Is the MQL Dead? Should it be? – Dissecting the Future of Lead Generation
If there's one thing that consistently ignites discussions, debates, and discourses in the arena of digital marketing, it's the status and relevance of the Marketing Qualified Lead (MQL). Swaying between survival and extinction, the MQL has been at the fulcrum of numerous arguments. Keen on exploring and understanding this dichotomy, we spoke to marketing leaders Ottavio Dottolo Senior Global Demand Generation Manager at Drift and Jodi Cerretani VP of Marketing at RollWorks for guidance.
What's the Word on the Street About MQL?
According to Wynter 79% of CMOs say they're going to invest in increasing conversion rate optimization over more paid acquisitions. As leads become more expensive to acquire, teams will focus on lowering customer acquisition costs and increasing conversion rates to secure results.
MQL Vs. Signals: Decoding the New Norms
One of the focal points of the webinar was the concept of "signals," which has been elbowing its way into the traditional lead generation model that relied predominantly on MQLs. The panelists agreed that clinging too closely to the conventional MQL model could possibly blur marketers' perceptive capabilities to read these critical signals accurately, which could yield more valuable results when acknowledged and interpreted proficiently. Jodi argued that ebooks and website traffic should not be the top signs of buying signals. Marketers need to differentiate bottom-of-funnel leads from those who are engaging with your brand out of curiosity.
Empowering Sales Teams: How Marketers are Smoothing the Path
What came up frequently in the discussion was the tension between marketers and sales partners when it came to defining the MQL. To align with business goals, it's crucial that marketers should take into account the sales cycle when crafting their campaigns. Ottavio gave a practical tip, suggesting marketers "to step into the shoes of an SDR”. Could the lead that's being passed on lead to a productive call and eventually a potential deal? Is it in line with what an Account Executive (AE) might find valuable? If the answer isn't a big 'yes,' it's time to revisit the drawing board.
Adopting this perspective will foster open, productive discussions between marketers and sales teams, paving the way for efficient campaigns. Ultimately, these changes can potentially lead to increased success rates in terms of generating quality leads and conversions that benefit the entire organization.
Enter Account-Based Marketing (ABM): The Maverick of Lead Generation
As the debate concerning the future of MQL continues to heat up, the webinar highlighted the importance for marketing professionals to remain agile, recognizing and embracing new techniques and strategies like account-based marketing (ABM). With its amplified focus on personalized communication and targeted campaigns, ABM is an emergent powerhouse in the realm of lead generation.
Navigating the Complex Terrain of Lead Generation
Let's cut to the chase. MQLs? Still a big deal when we're talking about driving growth. But the way we define and measure MQLs? That could use a major makeover to fit better with real business targets.
Ditch the superficial stuff like e-book downloads and simple engagement rates that don't give us the real lowdown on conversions. By getting crystal clear on what an MQL means to our org and nailing down strategies that consistently bring home the bacon, MQLs can come out swinging. After all, this is about making strategic moves, not just ticking boxes.
H2: Missed Out?
If you weren't able to join us live, don't sweat it - we've got you covered.
Watch the on-demand recording of "Is the MQL Dead? Should it be?" Button up your marketing strategy with these fresh perspectives, and who knows - you might just find the missing piece to your lead generation puzzle.