Part II - Sales v Marketing v Lead within Lead Generation Flashcards
What is the difference between a prospect and a lead?
A prospect is identified as a potential sales opportunity
A lead has shown active interest in your products or services
What is a prospect in sales?
A business/decision-maker identified as a good potential sales opportunity (by sales operations and data analysis teams)
Through what criteria are prospects typically qualified? (Examples)
-number of full-time employees
-annual revenue
-square footage of commercial space
What should SDRs do after identifying a prospect?
Reach out (via cold call or email) to ask sales-qualifying questions and verify credentials
What is a lead in sales?
A business/decision-maker that actively shows interest in your products or services, and you have their contact info
How can someone become a lead?
By showing interest in your business
(requesting sales/marketing materials, signing up for a newsletter, scheduling a demo, etc.)
Why is prompt follow-up important with leads?
-Reduces lead decay
-Establishes trust
-Maintains interest
What sales development process do prospects usually come from?
Outbound sales development
What marketing efforts usually generate leads? (Inbound or outbound)
Inbound marketing efforts (like digital marketing)
Why is it important to qualify leads as either MQL and SQL?
To ensure they fit the buyer persona and present a better sales pitch
What are MQLs?
MQLs are leads that have been identified as having a higher likelihood of becoming a customer
What are SQLs?
SQLs are leads that have shown direct interest in becoming customers, and are ready to move down the purchase funnel
Why are MQLs and SQLs important in lead generation?
They ensure that a potential sales opportunity has a need or interest in what your company offers and can provide a positive ROI
Downsides if a prospect or lead is neither an MQL or an SQL?
You risk wasting time on leads with little value to business growth or setting up sales meetings unlikely to convert
What is the role of marketing in lead generation?
Marketing creates and distributes engaging content to pique the interest of potential buyers and is involved in both outbound appointment setting and digital marketing efforts
Why is marketing essential in outbound appointment setting?
Engages prospects and keeps them interested
How does marketing serve as a follow-up method in sales?
It complements cold calling and email by providing additional information prospects research on their own
What percentage of prospective buyers spend time with a sales rep before making a purchase?
Only 17%