What is lead qualification?
Lead qualification is the process of evaluating leads based on certain criteria, such as their level of interest, budget, and authority, to determine their alignment with a company's target, and readiness to purchase. Lead qualification is an essential process that is key to ensuring that resources are prioritized to nurturing and converting leads that are the most eligible for the solutions or services that a company has to offer.
What is the purpose of lead qualification?
The goal of lead qualification is to identify high-quality leads that are more likely to convert in order to prioritize and focus outreach campaigns, drive efficiency and revenue, while minimizing time and resources spent on low-quality leads.
How does lead qualification work?
Marketers gather different information on leads via methods such as content gating. During lead qualification, lead characteristics such as job title, company size, engagement, and geographic distribution, among others, are assessed by marketers to determine their likelihood of becoming a customer.
Typically, lead qualification highlights marketing qualified leads (MQLs), i.e., leads that have shown interest in products—usually through engagement with marketing materials and by submitting details through a lead contact form, making them ready to receive nurturing sequences.
Once MQLs have demonstrated greater intention to purchase, they become sales qualified leads (SQLs), which are ready to be engaged by sales reps who will accompany them in the last steps of their purchase process. Furthermore, marketing campaigns leveraging account based marketing (ABM) also frequently leverage the concept of marketing qualified accounts (MQAs), whose multiple leads have demonstrated these signals, pointing to an interest from that specific account in your products and solutions.
The process of determining when leads convert from marketing to sales leads is often individual to each organization and based on the value attributed to each intent signal along the process. For example, leads that engage with case studies have indicated a greater propensity to purchase than those that have consumed educational content alone.