The issues related to outbound MQLs are interesting. I see two issues that can arise if outbound MQLs don't exist.
1) You might miscalculate the conversion rate from MQLs to SQLs.
For example, in a situation like this:
Total Leads: 200 (100 outbound, 100 inbound)
Total MQLs: 80 (all from inbound, as outbound leads are not marked as MQLs)
Total SQLs: 140 (60 from inbound, 80 from outbound)
Conversion rate from MQLs to SQLs: might be miscalculated as 175% (140/80) but should be 75% (60/80)
2) You can't compare the conversion rate from MQLs to SQLs between the inbound and outbound funnel.
If you lack outbound MQLs (assuming you use lead scoring), you lack an objective measure of the quality of your outbound leads. There are no conversions from lead to MQL for outbound leads. You also lack a measure of how well the good outbound leads (outbound MQLs) convert to meetings compared to inbound MQLs. If you don't have outbound MQLs, it's hard to know if you need better leads (more MQLs) or a better prospecting process (a better MQL to SQL conversion rate).
This is a challenging situation in general.
If you do use outbound MQLs, you don't have these two issues. But, you still need to be careful when looking at the conversion rates for all leads because you lose detail. If one motion or channel converts better, it will raise the average.
Regardless of outbound MQLs, conversion rates should be segmented by channel.
Thiis one came very timely, as I've been trying to nail full-funnel tracking/reporting for the story-driven, product-led content marketing we're executing for B2B SaaS clients. Definitely signing up for the workshop. Thanks, Emily.
This crash course is awesome! I bookmarked it so that I can refer to it again later. At every stage, startups need to learn to do reporting and how it ties to revenue. No ifs or buts!
The link to the full funnel workshop is not working
The issues related to outbound MQLs are interesting. I see two issues that can arise if outbound MQLs don't exist.
1) You might miscalculate the conversion rate from MQLs to SQLs.
For example, in a situation like this:
Total Leads: 200 (100 outbound, 100 inbound)
Total MQLs: 80 (all from inbound, as outbound leads are not marked as MQLs)
Total SQLs: 140 (60 from inbound, 80 from outbound)
Conversion rate from MQLs to SQLs: might be miscalculated as 175% (140/80) but should be 75% (60/80)
2) You can't compare the conversion rate from MQLs to SQLs between the inbound and outbound funnel.
If you lack outbound MQLs (assuming you use lead scoring), you lack an objective measure of the quality of your outbound leads. There are no conversions from lead to MQL for outbound leads. You also lack a measure of how well the good outbound leads (outbound MQLs) convert to meetings compared to inbound MQLs. If you don't have outbound MQLs, it's hard to know if you need better leads (more MQLs) or a better prospecting process (a better MQL to SQL conversion rate).
This is a challenging situation in general.
If you do use outbound MQLs, you don't have these two issues. But, you still need to be careful when looking at the conversion rates for all leads because you lose detail. If one motion or channel converts better, it will raise the average.
Regardless of outbound MQLs, conversion rates should be segmented by channel.
Anything else I'm missing?
Congrats on the marriage!
I missed the workshop. Is there a link to the templates and sheets?
Great article, learned a lot!
Great article, thanks Emily! At which yearly paid budget do you think attribution software makes sense?
Thiis one came very timely, as I've been trying to nail full-funnel tracking/reporting for the story-driven, product-led content marketing we're executing for B2B SaaS clients. Definitely signing up for the workshop. Thanks, Emily.
Really like the idea Qualified 1 and Qualified 2, rather than MQL & SQL, haven't heard this before. Thanks 🙏
Thanks for the great info!
Would marketing B2C follow a similar process?
If not, is there an article you would suggest that is more suited for B2C marketing?
Would really appreciate your expert advice
This clarity’s a lot! Thank goodness I found you 😅
This crash course is awesome! I bookmarked it so that I can refer to it again later. At every stage, startups need to learn to do reporting and how it ties to revenue. No ifs or buts!