How to Benchmark Your Sales Qualified Lead Conversion Rates

As we’ve highlighted on this blog, lead generation is not enough for reliably successful digital marketing. You also need to make sure that a good portion of your leads become qualified – and eventually turn into customers.

Of course, that goal is difficult to accomplish if you don’t know whether your efforts to turn sales qualified leads (SQLs) into customers are actually successful. That’s where benchmarking comes into play.

Through the below 3 step process, you can measure your current sales qualified lead conversion rates and evaluate your success. That, in turn, allows you to turn to one of the many strategies designed to help you improve your conversion rates and maximize the impact of your lead generation and nurturing efforts.

Put simply, benchmarking your conversion rates comes down to three simple steps: taking stock of your current rates, comparing them against industry averages, and setting a goal for improvement. Let’s break each of these steps down in a bit more detail.

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Understanding the Difference Between Sales Qualified Leads and Marketing Qualified Leads

Successful inbound marketing does not end at lead generation. Simply getting contacts into your database is far from enough in attempting to increase your customer base and grow your sales. Nurturing these leads on their way to becoming customers is a crucial step in the process.

That much is clear to any marketer familiar with the concept. But unfortunately, many of them still don’t go far enough in distinguishing just when a lead is ready to buy. If you don’t hit that sweet spot, you may lose out on a sales opportunity.

That’s where the concept of Sales Qualified Leads (SQLs) comes into play. These leads are ready for the sales pitch. Of course, some marketers also distinguish Marketing Qualified Leads (MQLs) to further enhance their efforts.

What is the difference between SQL and MQL, where should you focus, and how can you improve your efforts to generate each? You’ll know the answers to these questions by the time you’re done reading this post.

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6 Ways to Generate Qualified Sales Leads

For long-term success of your inbound marketing strategy, lead qualification is a crucial process. Regardless of how many contacts enter your database, your bottom line will only be impacted if these contacts are actually likely to become customers.

The key to success lies in both generating leads that are as qualified as possible when they enter your database, and increasing their chances of customer conversion after they are part of your nurturing process. To accomplish both of these goals, here are 6 ways your company can generate qualified sales leads.

Content Marketing Notebook

How to Create an Awesome Content Marketing Strategy

Creating a content marketing strategy is important for any business who wants to be successful. But developing a great strategy is actually easier said than done. A lot of thought must be put into the process, which can take some time. Losing this valuable time could actually cause some problems for businesses who need to spend it in other places.

Luckily, there are quite a few tips that are out there that can help you build a strong content marketing strategy easily and effectively. To help get you started, we have gathered some of the top tips available so that you can create the strongest content marketing strategy possible.

Cooking Up Customers: How Sales and Marketing Should be Working Together

How to Nurture Leads with BOTH Marketing and Sales

I hear this myth frequently about how sales and marketing departments are at odds with each other. I get a painted picture of the two going head-to-head in a bloody medieval battle. And just like in medieval times, there’s no real victor because everyone loses when the epidemic plague hits, in this case the plague of no leads and no customers.

But it is just a myth. In reality, sales and marketing generally know that each is part of the finished puzzle. The problem is that most organizations don’t know exactly how the sales and marketing pieces actually fit together.

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Foxtail Marketing is a digital marketing firm that provides content marketing, digital marketing, and lead generation services for small and mid-market companies.

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