How Can I turn an MQL into an SQL?

Question: How can I turn an MQL into an SQL?

Answer: Teamwork

Converting an MQL into an SQL can sometimes feel like a bun fight between marketing and sales. One of the best ways to avoid this is to agree a way of working and formally capture it in a document this is called a service level agreement.

The service level agreement or SLA for short is a written document that formalises the professional relationship between sales and marketing. It needs to be jointly written and signed off by both heads of department. But don’t worry; it doesn’t have to be War and Peace you just have to agree answers to the following questions:

What are your shared objectives? Sales and Marketing need to be “in it together” the best way to achieve this is to jointly own a shared objective typically this is a monthly or yearly revenue target.

What is an MQL? – What criteria does a lead need to make it an MQL? E.g. Job role, company size, sector and amount of interest shown.

Who follows up an MQL? Is it sales or marketing? If it’s passed between teams how is that done?

How many follow up attempts are made per MQL? It is important to agree how many attempts will be made to contact the lead before downgrading back to a prospect.

How are MQLs followed up and how quickly? Will you contact the lead by phone or email, will you leave voicemails. It is vital to follow up qualified leads as quickly as possible in order to maximise the chance of them converting, agree the maximum time it will take to follow up a lead.

What is an SQL? – What are the additional criteria that an MQL needs to meet in order to become an SQL? How is this confirmed and who does it?

What feedback are sales and marketing going to provide each other? It is important that sales tell marketing about the good leads and what made them good. It is also important that marketing tell sales about what content prospects and leads are consuming and any trends that could be relevant.

What happens when a lead says “not at the moment”? What is your nurture plan and who is responsible for it – sales or marketing?

What does success look like? How will you know when you are doing well? What metrics will you use to measure success other than revenue? E.g. number of MQLs, SQLs, Opportunities and Sales.