Unlock the potential of marketing qualified lead criteria for Life Sciences

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Hi again, I want to talk today about marketing qualified leads, not how to create them that's a whole lot of fun, rather what is a marketing qualified lead and how is that different from a sales qualified lead or sales accepted lead. Tomes have been written on this subject and frankly I don't agree with any of them. Marketing qualified lead is as cue as S wants it it is as qualified as sales wants it to be. if you want me to take a lead, that is just a name, that is what they used to call leads. I will give you a lot of names, I will go and buy the yellow pages or buy a list. That's a name. If you want the name, to actually know who you are. Then I am going to give you a name that knows who we are. I will touch them once or twice with a meaningful conversation so they get what we do. That can be an MQL. If you want a name to be somebody who has raised their hand, they have reacted in some fashion and shown interest, I will give you those. Obviously less than if I give you just names, or names that know us names that have shown some interest in the conversation I can give you fewer of those, but they will be of much higher quality. Have a gap acknowledged! Maybe you would prefer the leads to have already not only responded that they're interested in the conversation but actually, they are feeling some other problem that you're really good at solving. Once again I can give you fewer of those, because not everybody who raises the hand is troubled. What does sales want? That needs to be a negotiation between marketing and sales. This exact conversation 'how far do you want me to take them?' I can take them all the way to the bank. Now if you are selling a hundred thousand dollar product, me as marketing, what's my mechanism to close the deal? Its gonna be far less effective than yours Sales is so maybe you would that closure rate. You want me to take them all the way there, I can do it but I'm gonna be less effective than you so why don't I back up a little bit? So you want me to make the proposal? Once again, sales is going to be much better at doing that. We keep on moving the dial, I can give you very few, very well advanced, very many, but rubbish. Where do we want that dial to be set and that's a negotiation between sales and marketing. So what is an MQL? It is whatever S wants it to be. Marketing is going to advocate it, but if marketing says: this is what i think an MQL is and I have read all these great books on what an MQL is and this is what an MQL is, and sales says 'That is nice, but here is what I need'. We have misalignment from the get-go. It is not that hard, negotiate it. Outline the buyers journey, and negotiate how far you want the buyer to have progressed, knowing that we are going to have fewer as we reach each stage. It can be that simple. My starting point in that conversation will always be that same one. That is I would say the ideal starting point for marketing qualified lead is. we know if they meet the ideal client profile, ideal customer profile, because there is no point selling to somebody who doesn't meet that profile. They are bigger than this, smaller than that. They are one of these 3 verticals. They are structured this way, they are older than this or younger than this as a company. Whatever the characteristics are that make up an ideal client profile. Certainly they need to be that, I would argue. Certainly, they should have evidenced the problem was some some residents to the problem that yourself not just I'm interested in your content but actually I think that problem could be going on and I wouldn't mind having a chat with somebody who understands that problem really well I would argue should be should be in trouble at least alluding to the problem maybe through the digital body language maybe from a survey response, maybe telemarketing response you can work that out but they should be indicating that they are troubled and ideally they should have said and I'd like to meet somebody. ICP in pain and yet I'd like to meet but as I said for the first three minutes that's only a starting point. Negotiate with sales I can give you only a few of those but I think they are a good lead. Do you want to be more advanced still do you want them to be less advanced, but give you more? There is your starting point negotiate where you want that dial to be set and have that conversation often because frankly sales is gonna forget how come marketing never gives me enough leads? Because you told me sales, you ought to be this advanced have that conversation often, frankly every time you hand the leads over. Weekly if you want, start with ICP troubled I wanna meet and shift the dial wherever marketing and sales both agree they're willing to shift the dial. By the way, the further along the more budget I need here. Further up here I'm gonna waste your time its a trade off, it's a negotiation and start with ICP, pain and I want to meet. Hope that helps!