Strategies for Boosting MQL to SQL to Close Conversion in B2B Marketing

The results of our IMS Executive Marketing Benchmark Study show that nearly 70% of B2B marketers believe it takes an average of more than three to six months—or even up to a year—for a qualifying marketing lead to close. But some businesses are able to convert leads in just three months.

If you are considering your company's close rates, you could be considering where you should put your next focus in order to enhance that crucial transition from Marketing Qualified Lead (MQL) to Sales Qualified Lead (SQL), which will subsequently have a positive effect on greater close rates.

The answer is to adopt a "incremental improvement" strategy across a specific set of prospect touch points in order to increase engagement once a prospect has been identified as a marketing lead. You can start to see improvements in your time-to-close statistic by making tiny but significant changes at each stage of the prospect's journey. This will raise the relevancy and engagement of each contact or interaction.

The following 5 strategies can dramatically increase your MQL to SQL (to close) conversion rate in B2B marketing.

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(1)???Make sure the messaging in your marketing and sales is consistent. Of course, the primary value proposition, major benefits, and outcomes businesses may achieve when working with you are at the centre of your marketing messaging. Therefore, it's crucial to make sure that the basic principles and essential messaging your sales people are communicating with qualified prospects remain constant throughout the whole sales process. The sales process may be slowed down if the sales team communicates incoherently or provides an excessive amount of information.

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(2)???Make your follow-up communications specific. A prospect is at their most eager to hear from you when they have met the criteria to become a marketing lead. In fact, if you make it simple for them to connect and it feels personal, they might ask some questions right away. Why not automate a customised introduction to their (potential) salesperson and adapt the conversation straight away if you have an internal process for assigning sales qualifying leads to sales representatives. Utilize email automation and personalization to its fullest potential in order to take advantage of the chance to establish a genuine connection. If you can discover the correct pace and tone for your communication, you have the power to advance a prospect extremely quickly.?Giving your prospect early access to their sales representative is crucial because it enables them to get any urgent inquiries answered and advance through the sales process at a pace that corresponds to their level of interest in making a purchase.

(3)???Every year, analyse and assess your products and messaging. Identify frequent objections or obstacles prospects have by reviewing win/loss data, your team's sales pipeline, and any anecdotal input you may get. Then, determine whether the market is suggesting a need for a solution that addresses those concerns or gets rid of those obstacles. Or perhaps, in order to convert your qualified leads into customers, you’re messaging needs to change to meet their evolving needs.

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(4)???Provide success stories to your sales team. Making sure that your prospects can witness market validation in the form of case studies, success stories, and outcomes obtained by working with you will work in your favour when they are deciding between a few possibilities and you are still in the running. Despite the fact that you may already be highlighting these success stories in your marketing campaigns, make sure your sales staff has shareable access to the entire collection. Prospects will have an easier time signing on the dotted line because others' success will reassure them.

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(5)???Tweak the metrics you use to score leads. It's critical to constantly assess your lead scoring measures to make sure they are the appropriate metrics. What actually qualifies as a sale in the traditional BANT process, where the prospect has budget, authority, need, and timing? What other elements are at play or influencing a better calibre sale? Consider metrics or data points such as the buyer's position within the organisation, your firm's relationship with the potential company, your company's capacity to influence the decision-making process, and the strategic importance of your solution to their business.?Industry-specific or competitive factors that increase the likelihood that your prospect will value your solution working closely with your sales team will probably be necessary to refine your lead scoring measures, but ultimately, any time marketing and sales collaborate, both teams gain.?You will start to acquire traction at each stage of your prospect's experience if you take the time to consider and improve a number of pre-sales touch points utilising the incremental improvement strategy. You can start to observe increases in your lead conversion rates a few months after applying these adjustments. Reach out to us for a free strategy session with a member of the Brand and Demand Solutions team if you need assistance shortening your sales cycle.

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