Discover how airSlate SignNow simplifies marketing qualified lead criteria in legal agreements

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all right so one of the most common things I get a lot is what is product qualified lead and it's almost a prerequisite to understands how to build a product lead growth business successfully so the product qualified lead and what you define it as is completely different for every business much like a marketing qualified lead it's usually a set of criteria that a company might decide that says hey this person is qualified and we want to talk to someone like this and so the main difference if you sum it up between marketing qualified leads and product qualified leads on the one ends of the spectrum is that marketing qualified leads they usually rely on I would almost argue vanity metrics so someone is downloading your guide or someone is viewing a bunch of your pages on your website maybe even your pricing page and so you use those factors to basically say ok once they hit let's an arbitrary score of 200 and let's age page visits one you just do the math things add up after a little while and now the sales team can reach out to them because they're qualified and so the big issue with this marketing qualified lead is that it's not really based on value and so even if someone is downloading one of your guides and you're giving them a bunch of points for doing that it doesn't really tell you what they're actually doing with that guy they might be students after all just doing research on a particular topic that your company's well-known for or they might just be someone in the company who just just thought I'd be good to download that guide and so you get that a lot and oftentimes when the sales rep reaches out the conversation might go something like hi Sal I realized that so you just download her a guide on video marketing and I was curious if you have any questions about your marketing or if on a hop-on a quick call more than happy to help you out as you grow your your future marketing strategy and use more video in your business so that's how the the very traditional marketing qualified lead approach works for a lot of businesses and then on the other hand of the spectrum we have product qualifies and so what really differentiates product qualified leads from marketing qualified leads is that the product qualified leads are really based on scoring factors within the product and so I'm gonna just pull up a really well-known example and then we we can definitely go from there because it'll make sense so everyone hopefully will no slack and so slack is a b2b SAS company and what they will look for whenever someone is about to upgrade or basically they're looking for those factors of like what really makes someone upgrade and so after analyzing lots and lots of results of people who actually ended up upgrading their accounts they noticed okay once people get to ten thousand messages they actually understand the value of the product and if you're even going to hit that 10,000 number for messages oftentimes you will have to have a team and so some other factors that they'll look for is okay on one side we have the 10,000 messages total is what we're looking for us a trigger to say hey this person is is qualified they get the value of slack but then on the other hand you have the velocity and the number of users so if someone hits that 10,000 number in a week you probably have a very very qualified lead on your hands and that business is really actively using it I wouldn't be surprised if the whole company was using yet that's a lot of messages and so that's what we're really looking for is identifying that aha moment and then in later lessons we're definitely gonna build out how you can I if I how to basically score those very importance actions within your product so that's when you actually reach out the sales conversation might sound something like this like hey so I realized you were just about over the your limit with slack and I want to help your team get more value out of using the current product and so I sent you over one or maybe two features you can try out for another 30 days and if you really like them then we can definitely talk about upgrading your entire team to get full access of these features and one of those features might be video chat and so if you have a remote team and you can definitely see that with a product if people are using it that's a really powerful feature because like this when you're talking to people are you seeing their face you're communicating so much more than just through your voice and so that's the biggest difference between the marketing qualified lead and a product qualified lead as well but some companies still will use the product qualified lead approach but the label is mqs marketing qualified leads so that is often where you get a little bit of confusion from a lot of teams and so regardless of if you use what the label is product qualified leads or marketing qualified leads this is the the differences between the two approaches and I hope that helps you at least understand the biggest difference between product law if a leads and mark and qualified leads that I'm out bye