MQLs and England's Euros: Are they unfulfilled promises?

For sales teams far and wide, few things are as frustrating as the performance of Marketing Qualified Leads (MQLs).

For England fans, more than any other of our home nations, this mirrors the perennial plight of our football team as it takes part in the Euros – full of promise but rarely achieving the glory anticipated by fans.

When it comes to these leads, widely touted as the lifeblood of a sales funnel, they come with high expectations. They are nurtured, qualified, and handed off to sales teams with the hope of converting into valuable customers. Yet, more often than not, they fail to deliver the desired results.

For England fans each tournament brings a fresh wave of optimism, boasting a roster of talented players, a strategic manager, and an enthusiastic fanbase. The media hype is relentless, building up the team's chances and fuelling expectations. Yet, when the tournament unfolds, England frequently underperforms, crashing out earlier than hoped, or just falling short of the desired result.

The promise of MQLs

Marketing Qualified Leads should be precious gems that marketing departments refine through targeted campaigns, engaging content, and strategic nurturing. They should represent individuals within businesses that have shown interest in a product or service, indicating a higher likelihood of becoming customers. The logic is simple: if someone has expressed interest and a level of intent informed by the content presented, there's a good chance many will progress to an eventual sale in time.

However, reality paints a different picture. Even if marketing presents tip-top data, analyses algorithms, and demonstrates marketing prowess, MQLs still fall short of delivering actual sales. Sales teams who start full of optimism about the potential of these leads, end up disillusioned as they face resistance, disinterest, or outright rejection from supposedly "qualified" leads. The key here is what happens to get those MQLs into the box to achieve a score.

The role of sales in determining outcomes of MQLs

Just as the England football team must adapt its strategy, formation, and execution to succeed, sales and marketing teams must refine their approach to MQLs and subsequent follow-up. The key to bridging the gap between promise and performance lies in teamwork and a deep understanding of what buyers need along their journey.

1. Understanding the lead's journey:
   

   Sales teams need to delve deeper into the lead's journey and understand their needs, pain points and motivation from the data presented. It necessitates genuine conversations over time and building relationships – not just because there’s the sight of an immediate return, but because buyers will return if they have a real, ongoing, personal connection.
   
   
2. Aligning expectations:
   
   Just as football managers need to manage the expectations of fans and players, sales leaders must align the expectations of their teams with the realities of MQLs. This involves setting realistic targets
   recognising that not every lead will convert and what should happen with the leads that aren’t demonstrating a short-term result.
   
   
3. Continuous improvement:
   
   Both football and sales are dynamic fields where continuous improvement is crucial. Sales teams must constantly refine their techniques, keep on top of their training levels, and leverage feedback and analytics to enhance their engagement strategies.
   
   
4. Collaboration:
   
   Success rarely comes from individual performances. In the business world, this means seamless collaboration between marketing and sales teams to ensure that MQLs are not just handed off but are continually nurtured throughout the sales process.
   
   
5. Making the most of every conversation.
   
   Our industry is crammed with tradeshows, networking events, round table dinners, etc. Yet it seems many sales folk fail to make the most of these experiences. These events offer unparalleled opportunities to build genuine relationships, gain insights, and showcase your brand in a way that virtual meetings cannot replicate.

In summary

Both sales and football remind us that potential is only the beginning. It's the execution, adaptability, and perseverance that ultimately determine success.

Ensuring personal connections are maximised and maintained is a critical part of the process – as is fielding your best player for the task at hand.

If you don’t show up, you will never win the match. As an eternal optimist, I'm confident perseverance and the willingness to adapt will always deliver results!