Tim Cox Eloqua Updates, Industry News, Revenue Performance Management, Social Media CRM, Digital Strategy, Eloqua 10, Eloqua Profiler, Email Marketing, Engagement, funnel, Lead Generation, leads, Marketing Automation, Modern Marketing, Oracle, Oracle Marketing Cloud, Oracle Social Relationship Management, Sales 0 comments
There is the very common saying, “every lead is different” and this is definitely true but how are we qualifying these leads?!
In our previous blog we had a look at the revolution of the social selling funnel and we discussed how Sales are more involved in the initial stages of lead generation than in years past. We also discussed how marketing and sales could use marketing automation technologies to drive leads to enter the funnel. We will now take a look at how you identify each type of lead, how you score them and how to avoid common pitfalls within the funnel.
Identifying Your Leads
So firstly, let’s clarify how Marketing Qualified Leads and Sales Qualified Leads differ. Knowing the difference between these leads will help to identify what stage in the funnel they are in:
Marketing Qualified Leads (MQL)
These are leads which have shown interest in your brand through their Digital Body Language™.
Have they downloaded white papers or maybe they’ve invested time in your website and completed a form. These could be leads on the back of your marketing automation campaigns and as such they are ready to be marketed to via your lead nurturing campaigns.
Sales Qualified Leads (SQL)
These leads are ready to be sold to, an opportunity exists.
They are further along in their buying process and Sales are confident they can sell to them as an open opportunity.
Technology Advice acknowledges that SQL are further along in their buying process and are ready to be sold to in a one-on-one sit down with the sales team.
These leads could have been created off the back of nurturing campaigns or perhaps they have completed their own research and approached your company directly.
Scoring Your Leads
If you’re using an enterprise solution such as Oracle Marketing Cloud Eloqua, you can set your lead scores based on what you consider valuable information through their profile or through their engagement.
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- Profile scores could include information such as job title, email address and even a contact’s Klout score.
- Engagement scores are based on behaviours, such as submitting forms, opening emails, visiting your website.
Combining these two scores over time, your prospects will be given a lead score from D4 (not very engaged with your business) to A1 (highly engaged) and depending on how much they interact with your business they will move up or down the funnel.