Navigating the rapidly expanding software industry and the ever-evolving buyer behavior poses a critical question: Are you on the trail of the right lead or prospect? Bridging the gap between marketing and sales teams specifically in terms of communication, shared goals and synced strategies may hold the answer. As per a Gartner Digital Markets survey[*], 42% of business leaders say that when sales and marketing teams align, they connect with qualified leads at an accelerated pace.
But where do marketing-qualified leads (MQLs) and sales-qualified leads (SQLs) fit into this picture? What's the difference? What’s their role in the sales funnel? Hang tight as we dive deep into the concept that is unclear to many yet paramount to success. But first, let’s discuss the lead qualification process for better clarity.
Understand lead qualification
Lead qualification is a vital component of a successful marketing and sales strategy, assessing the probability of prospects becoming customers. It’s a multi-stage process, classifying potential customers by their readiness, willingness, and ability to purchase.