Part II - Sales v Marketing v Lead within Lead Generation

Question 1

What is the difference between a prospect and a lead?

Answer 1

A prospect is identified as a potential sales opportunity
A lead has shown active interest in your products or services

Question 2

What is a prospect in sales?

Answer 2

A business/decision-maker identified as a good potential sales opportunity (by sales operations and data analysis teams)

Question 3

Through what criteria are prospects typically qualified? (Examples)

Answer 3

-number of full-time employees
-annual revenue
-square footage of commercial space

Question 4

What should SDRs do after identifying a prospect?

Answer 4

Reach out (via cold call or email) to ask sales-qualifying questions and verify credentials

Question 5

What is a lead in sales?

Answer 5

A business/decision-maker that actively shows interest in your products or services, and you have their contact info

Question 6

How can someone become a lead?

Answer 6

By showing interest in your business
(requesting sales/marketing materials, signing up for a newsletter, scheduling a demo, etc.)

Question 7

Why is prompt follow-up important with leads?

Answer 7

-Reduces lead decay
-Establishes trust
-Maintains interest

Question 8

What sales development process do prospects usually come from?

Answer 8

Outbound sales development

Question 9

What marketing efforts usually generate leads? (Inbound or outbound)

Answer 9

Inbound marketing efforts (like digital marketing)

Question 10

Why is it important to qualify leads as either MQL and SQL?

Answer 10

To ensure they fit the buyer persona and present a better sales pitch

Question 11

What are MQLs?

Answer 11

MQLs are leads that have been identified as having a higher likelihood of becoming a customer

Question 12

What are SQLs?

Answer 12

SQLs are leads that have shown direct interest in becoming customers, and are ready to move down the purchase funnel

Question 13

Why are MQLs and SQLs important in lead generation?

Answer 13

They ensure that a potential sales opportunity has a need or interest in what your company offers and can provide a positive ROI

Question 14

Downsides if a prospect or lead is neither an MQL or an SQL?

Answer 14

You risk wasting time on leads with little value to business growth or setting up sales meetings unlikely to convert

Question 15

What is the role of marketing in lead generation?

Answer 15

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

Question 16

Why is marketing essential in outbound appointment setting?

Answer 16

Engages prospects and keeps them interested

Question 17

How does marketing serve as a follow-up method in sales?

Answer 17

It complements cold calling and email by providing additional information prospects research on their own

Question 18

What percentage of prospective buyers spend time with a sales rep before making a purchase?

Answer 18

Only 17%

Question 19

What are key components of digital marketing in lead generation?

Answer 19

-Creating user-friendly websites
-Writing SEO-optimized web pages/ blog posts
-Crafting social media content
-Targeted ads

Question 20

What is the overall goal of lead generation in marketing?

Answer 20

To attract and convert potential customers into leads, so they can be nurtured into paying customers

Question 21

Is lead generation part of sales or marketing?

Answer 21

Lead generation is a shared responsibility between the Sales and Marketing teams in the digital era

Question 22

What are the six steps of the modern lead life cycle? (In the purchase funnel)

Answer 22

Awareness
Interest
Consideration
Intent
Evaluation
Conversion

Question 23

What activities are involved at the Prospects stage of the lead life cycle?

Answer 23

Engaging leads through targeted personalized communication like email marketing or marketing automation campaigns and gathering data on leads

Question 24

What actions should the business take in the Leads stage?

Answer 24

Inbound content marketing or digital advertising

(Top of the funnel marketing activities aimed at brand awareness and low-level engagement)

Question 25

What defines a Marketing Qualified Lead (MQL)?

Answer 25

Leads that show a high degree of engagement and have provided contact details suitable to be passed on to the sales team

Question 26

How are Marketing Qualified Leads (MQL) identified?

Answer 26

Using systems like lead scoring that quantify lead engagement through online activity or social and EDM engagement

Question 27

What occurs during the Sales Qualified Lead (SQL) stage?

Answer 27

SQLs are vetted by the Sales team through direct contact to determine interest in becoming a customer

Question 28

What defines a Sales Opportunity?

Answer 28

High quality leads that have a tangible relationship with the business and are close to becoming a customer

Question 29

What is the Conversion stage?

Answer 29

Converting a lead into a customer

Question 30

What follows after converting a lead into a customer?

Answer 30

Coordination of ongoing lead nurturing strategies by Marketing and Sales to maintain existing customers

Question 31

What are the main reasons for conflict between Sales and Marketing departments?

Answer 31

-Limited understanding of marketing's role -Disagreement over responsibility for leads -Differing languages -Not updating CRM data -No reporting between departments

Question 32

How can conflicts between Sales and Marketing be reduced?

Answer 32

-Mediating expectations -Establishing regular communication -sharing knowledge of the buyer journey -setting clear objectives -implementing service level agreements

Question 33

What is a major issue with lead generation between Sales and Marketing?

Answer 33

The problem of handing over MQLs to SQLs with Sales feeling they don't receive enough high quality leads and Marketing feeling Sales have unrealistic expectations

Question 34

What is an SLA and why is it important in Sales and Marketing?

Answer 34

A service level agreement that acts as a common framework defining MQLs and SQLs ensuring both departments are aligned

Question 35

Why is it important for Sales and Marketing to speak the same language?

Answer 35

To ensure effective communication and enable Marketing to adjust strategies based on Sales feedback

Question 36

What role does CRM data play in resolving conflicts between Sales and Marketing?

Answer 36

Keeping CRM data updated helps improve lead attribution and informs lead nurturing campaigns effectively

Question 37

What is the significance of reporting between Sales and Marketing?

Answer 37

Reporting helps: -Allocate budgets -Gather data on leads -Identify top performing marketing initiatives

Question 38

What must Sales and Marketing have a clear understanding of to work effectively together?

Answer 38

-Buyer journey -SMART objectives -SLA qualified leads -Timelines

Question 39

Why is understanding the buyer journey crucial for Sales and Marketing?

Answer 39

It ensures both teams accurately understand the customer and their journey which is crucial for effective collaboration

Question 40

What are SMART objectives and why are they important in Sales and Marketing?

Answer 40

Specific, Measurable, Achievable, Relevant, Timely objectives that help align Sales and Marketing expectations

Question 41

What is the purpose of a Service Level Agreement (SLA) in Sales and Marketing?

Answer 41

To define what MQL and SQL leads are ensuring both departments are aligned and understand their roles

Question 42

Why must Sales and Marketing set clear expectations for qualified leads?

Answer 42

To agree on what constitutes an MQL/SQL and ensure both teams pursue leads effectively

Question 43

What should Sales and Marketing know about the sales lifecycle?

Answer 43

What the sales lifecycle looks like, and the average time spent on each section of the cycle

Question 44

Why might the Sales team have a limited understanding of Marketing's role?

Answer 44

They often see Marketing only as support to help reach revenue targets through campaigns events or promotional materials

Question 45

What long-term strategies in Marketing provide greater value than short-term results?

Answer 45

Content Marketing (inc. social SEO) and regular content development

Question 46

How does Content Marketing provide long-term value?

Answer 46

-Generates goodwill towards the brand -Improves lead quality -Increases transaction value -Reaches new audiences -Boosts perceived product or service value

Question 47

Why is it difficult to convince management of the value of long-term Marketing strategies?

Answer 47

Because demonstrating ROI for activities like Content Marketing can be challenging because it’s intangible and slow growing