Get More Product Qualified Leads for Banking

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if you're a digital marketer you've probably heard the word lead hundreds of times but what exactly is it and what is the difference between marketing qualified leads and sales qualified leads and why are these Concepts so important in digital marketing well we're here to answer all of your questions because today we'll be talking about what Elite is how you can classify one and the two most important types of leads in your marketing and sales pipeline let's get right into it thank you what is the lead in digital marketing in digital marketing a lead is often used to describe a qualified contact it refers to an individual who has chosen to visit our digital platform such as a website or social media channel and made an effort to communicate with us they may have filled out a contact form subscribe to a newsletter or even made a phone call essentially Elite is someone who has shown interest in our products or services and provided us with their contact information which is then added to our database an essential aspect of a lead is the concept of explicit consent it's crucial that the individual gives us clear permission to collect and process their data to convert a visitor into a lead you need a set of tools to facilitate that Journey from a CTA or call to action to a forum where the user leaves their contact information the evolution of lead generation the concept of leads has existed for many years even before the digital era previously leads were individuals who displayed a tangible interest in a product or service however with the Advent of digital marketing the number of leads a business could potentially generate multiplied exponentially sometimes into 100 hundreds or thousands every day this abundance of leads created a need for a more nuanced classification system to distinguish between various levels of interest and Readiness to purchase classifying leads mqls and sqls to better manage and categorize leads marketers develop two new terms marketing qualified leads mqls and sales qualified leads sqls marketing qualified leads mqls and mql is a lead who has not only shown interest in your product or service but also fits a certain set of predefined criteria that make a likely prospective customer this could include a specific demographic or Geographic attributes they're placed within the business sector or even the size of the company they work for essentially an mql is a lead that matches your ideal customer profile sales qualified leads sqls the SQL is the next step up from an mql and SQL is a lead who in addition to meeting all the requirements of an mql has shown a distinct possibility of making a purchase this could be determined through various signals such as a specific inquiry a direct request for further information and or even an expressed intent to buy the importance of lead classification lead classification is a powerful tool for businesses allowing them to place leads on a spectrum of Readiness to purchase at one end we have the generic leads who have merely shown interest a step further are the mqls who fit the ideal customer profile and at the top we have the sqls who are ready for direct sales approach to properly leverage all of this information we recommend using a marketing automation tool which will help you set up lead generation forms create automated workflows to nurture our contacts set up lead scoring models and much more you can check out this HubSpot tutorial to learn more about how this kind of tool can help you understanding this classification provides a deeper insight into your database and allows you to strategize more effectively the type of marketing communication you deploy can be tailored to each classification level enhancing your chances of conversion and making your marketing efforts more efficient and productive lead generation and classification is a vital aspect of digital marketing by understanding the differences between the leads and ul's and sqls marketers can better navigate their customer databases and enhance their strategies with the right understanding and application businesses stand to achieve more effective results from their marketing efforts now that you know everything about leads watch this video where we Deep dive into inbound marketing an organic way to generate leads through valuable content thanks for watching and don't forget to subscribe see you next time [Music] foreign