Increase The Conversion Rate By Nurturing Product-Qualified Leads
As a B2B digital business owner, you always give high importance to the sales funnel. It is the best marketing strategy developed by digital marketers. In the B2B niche, the way to generate leads is significant. In most cases, professional marketers try to generate sales-qualified and marketing-qualified leads. But, the markets and consumers are never stable. That is why several B2B marketers have focused on product-qualified lead generation techniques. Let us talk more about product-qualified leads.
What is PQL? How is it different from other types of leads?
Market-qualified leads are potential customers who have accepted the content you have offered. They have communicated with your marketing representatives. On the contrary, sales-qualified leads move through sales funnels, and they have an eagerness to connect with your sales department.
But PQLs are those who have already used your product (a free trial). They have some unique characteristics, indicating that they have a chance to convert.
Why PQL is your target
An effective marketing process is about reaching the target audience at the right time. However, you may need to make guesswork for PQLs. These leads are more than merely qualified to purchase a product. They represent the ideal customers of your business. They have a higher chance to
- Convert within a short time
- Buy your product
There is a minimal churn rate in the case of these PQLs. That is why it is safer to invest in these leads. These potential customers have already learned about your product, so they can provide you with valuable data. You can use this data for marketing purposes. But, PQLs are not those persons who have upgraded their free version to a premium one.
How will you identify your PQL?
Several marketers have felt confused about this step. How will you define your PQL? The definition is not complicated. Still, it is not easy to understand PQL and relate it to your business. Those who have used the free trial of your product are indeed your PQL. Nevertheless, there are other criteria to identify the users as product-qualified leads.
- Used the product for a reasonable amount of time
- Usage pattern- It indicates the level of interest in your product
- The time taken by users to adopt your product
- Usage that is close to the available limits for the free version
Every business needs to track its user data and evaluate it for additional signals. There are some common characteristics of converting PQLs. You need to detect these characteristics and apply the best marketing strategy.
Steps for qualifying your PQL
PQL qualification involves some steps.
Identify your target customers
Before deciding on the PQLs from a number of leads, you must learn about the potential customers. Create the buyer persona to make this task easier. Several marketers have found that negative buyer personas can give you the best outcome. These negative ones are profiles representing consumers who are not interested in your product.
Thus, you need to know the traits that make a person unsuitable for a product.
Find out highly convertible leads-
Some users who prefer your product will make the best use of the free version. They take a lot of time to learn about the features of your product. Moreover, they try to access each of these features. These activities indicate that they have a chance to convert. It is also essential to check the product-activated leads. While upselling your product, these leads can be the best targets.
Compare leads to the target customer profiles-
Qualified PQLs are users who have fulfilled most of the criteria. Your focus should be on the end goal of the users. You always like to connect with those who have a minimal chance to churn.
Transforming PQLs into customers
We have talked about the best strategy for lead conversion into customers.
Learn more about your users
Detailed marketing strategies are effective in helping you in reaching your goal. Knowledge about your target audience is highly important. Customers in the digital age like to deal with a company that offers personalized services.
A precise and perfect marketing message that you have delivered at the right time can persuade your PQL to buy products. Thus, it is essential to learn every detail of the product users.
Start the onboarding process
Demos, free services, and trial periods are some common ways to let users identify your product values. Still, you must not assume that your product quality will convince them to make a purchase.
Several users like to have guidance in using the product. It is especially important when the product has a lot of complicated features. Good onboard techniques enable new users to get optimal benefits from your product. Furthermore, it assures that your company takes care of its customers.
Reach out to your product users at the right times
Sales tactics can annoy your customers. Thus, you have to be helpful in dealing with your product-qualified leads. For instance, you can look for opportunities to communicate with your target audience. The best moments to do it are
- When the user has encountered a technical problem regarding the use of the product
- The user likes to upgrade your product.
- He has reached the checkout page. It is the best time to deliver sales pitches.
You can set up a notification system which lets you know the activities of PQLs. User data will be highly useful for your marketing campaign.
Interact with converted users
Make sure that you have used proper strategy and personalization for lead conversion. By communicating with users, you can ensure that they are pleased with your products. You may also address their concerns and refine the product. Create friendly emails to remind users of the new features.
Overall, it may be challenging to track product-qualified leads. But, to make your task easier, you can use the Capture® software. It is a remarketing software with web patents that lets you integrate different tools for lead capturing.
Capture® is a MOV•ology™ Company that provides real-time automated web form abandonment solutions to increase ROI using our Patented Technology Platform.
(US Patents 9,280,531, 9,286,282, 9,589,281 & 10,042,838).
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