Have you thought about what a good lead is for your local business? For me, a good lead is someone that aligns with the characteristics of our ideal customer profile.
Let’s break it down using IBM’s classifications.
IBM used a lead classification model to help structure their campaigns, and focus their sales efforts. There are 3 levels:
- Lead,
- MQL (Marketing Qualified Lead), and
- SQL (Sales Qualified Lead).
At each level the goal and engagement is different.
1. Lead: A general inquiry or contact who has shown some level of interest in your product or service but hasn’t been vetted.
What are the characteristics of a good lead?
- Engages with your content (e.g., downloads a resource, subscribes to a newsletter, or attends a webinar).
- Provides basic contact information (e.g., name, email, phone number).
- Fits the demographic or firmographic criteria of your target audience (e.g., company size, industry, or geographic location).
- The lead has a clear problem or interest related to your offerings.
2. MQL (Marketing Qualified Lead): A lead that has been vetted by the marketing team and shows potential to convert into a customer based on engagement and fit. MQLs are interested but not yet ready to buy.
What are possible characteristics of a Good MQL?
- They are opening your marketing emails frequently.
- Visiting key pages on your website (e.g., pricing or product pages).
- Engaging in high-value activities
- Matches your ideal customer on factors like:
- Budget
- Authority to make decisions
- Need for your product/service
- Timeline for implementation (BANT – will do a post on this)
- Is nurtured through consistent touchpoints but hasn’t yet engaged with sales
3. SQL (Sales Qualified Lead): A lead that has been vetted and prioritized by the sales team as ready for direct engagement. SQLs have buying intent and are qualified based on criteria agreed upon by marketing and sales.
Characteristics of a Good SQL:
- Explicitly expresses interest in buying
- Has the decision-making authority or is connected to the decision-maker.
- Meets the sales-readiness criteria, such as:
- Clear budget and willingness to spend.
- A specific need for your product/service (e.g., solving a pain point or addressing a gap).
- A sense of urgency (they want to implement a solution soon).
- Is actively engaging with the sales process, such as responding to emails or calls, or providing detailed information about their needs.
Here are some key focus areas for identifying a good lead at each stage:
- Lead: Focus on awareness and fit. Does this person match your ideal customer and show initial interest.
- MQL: Look for engagement and alignment with your product/service’s value proposition. Are they exploring and interacting with your content actively?
- SQL: Evaluate their readiness to buy and authority. Are they prepared to have meaningful conversations about purchasing?
IBM’s lead qualification model helps streamline marketing and sales efforts.
This help ensure leads are nurtured appropriately at every stage. This improves conversion rates and overall return on your investment.