CEO and Co-Founder @ RevOps Co-op, a community of 13k+ RevOps pros from across the globe
How do you define an MQL? And how does this compare to what other companies do? 🤔 Someone asked this question in the ROC Slack group recently, here's how the RevOps Co-op responded 👇 1️⃣ 2 out of 4 BANT criteria met Consensus here was BANT is the responsibility of the sales team, not the marketing team, so shouldn't be used. 2️⃣ Exceeds lead score threshold based on demographic and behavior data This was a popular choice. Lots of folks said an MQL should be a hand-raiser that meets some sort of grade / score threshold. 3️⃣ Based on account and title fit with ICP This can be the basis of a lead score or grade mentioned in number 2 above. ☝️ 4️⃣ Based on Minimum Viable Customer Profile (MVCP) This is basically a twist on number 2 and 3 above, but I thought it was intriguing. It's basically a more broad version of your ICP using secondary criteria. For example, if your ICP is a Fortune 500 account, your MVCP may be any company with > $50M revenue. Or if your ICP is HQ in the US, your MVCP could be HQ in the US, Canada, UK and Australia. What do you think - anything missing here for different ways to define an MQL? PS - thanks to Malorie Packard, Colby Ricker, Colin Illar, Jeff Ignacio, Jacqueline Freedman 🦋, Rex Biberston, and others for participating in this 🧵 #revenueoperations #revops #marketingops #marketingoperations #mops #GTMOps #alltheops #MQL
Rex Biberston
1mo
MVCP ftw! I can't tell you how many times I've seen this: * Leader A thinks ICP means minimum acceptable criteria * Leader B thinks ICP means outbound & advertising targeting criteria We have to speak a common language, and until we use common definitions for the same terms, we think we're agreeing when we're disagreeing.
Camela Thompson
1mo
This drives me crazy! Fit should be a factor but KISS. Keep is simple Simon! 1. Meet cross functionally as a leadership team and agree on what signal (SINGULAR) a buyer would reasonably expect and receive a sales call. That’s it. Overcomplicating your scoring model reduces trust. If you use an AI algorithm that looks at the keywords they used in a general Google search, which videos they watched last week, and what they had for breakfast, your sales team won’t trust it because that buyer hasn’t indicated they have any idea what your company does. Stop with the overcomplicating and use something that everyone understands INCLUDING YOUR BUYER. I will die on this hill.
James May
1mo
It's a vanity metric. You can exceed MQL targets by setting the MQL criteria too low. Focus on objective data points - How many attendees/downloads/hand raisers - How many of those Sales speak to - How many are ICP
Kristofer W.
1mo
MQL = More Qualified Later 😁 Jokes aside...sales should always have a say what defines an MQL. MQL = SAL (Sales Accepted Lead)
Malorie Packard
1mo
Never a dull moment in the slack channel! I love tuning in daily!
Colby Ricker
1mo
Matthew Volm Thanks again for posting. Always enjoy the conversations in Slack!
Co-Founder @ People On A Mission | Risk Management, Podcast Hosting | CRO @ Trustlayer | RevOps, SaaS, Leadership expert.
1moWe define the entire lifecycle by stage. For prospects to buyer we have three sub stages “aware,” “buy in,” “conversion”. We built a scoring system that is based on engagement and that can drop through inaction. We put a new suspect into a motion and let it run. The first play in that motion we call a hail Mary play- its goal is to drive to conversion. It only works a tiny small percentage. We then do micro plays/campaigns to that prospect by their stage with the small goal of getting them to the next stage through activity. We use zoom info, warmly, HubSpot, outreach to pull this off. Then once someone converts to buyer our sales team will begin to work them to get them to the first milestone of the buyer lifecycle stage - which is a first meeting. Because the ae doesn’t work it at all until they either hand raise or show enough interest to manually intervine we have pretty good conversion on these highly engaged prospects. A prospect can always slide back down to the floor of the current stage they are in but never further down allowing them to “re-engage” and flag our system all over again.