ForzaDash MQL Case Study: What Our Sponsors Do With Our MQL (Market Qualified Leads)
The MSP ecosystem is an ever-growing and promising industry with a bright future ahead. IT vendors looking for MSP partners get tangible results with the right strategic plans. One of the things that ensure the success of MSPs and IT vendors is knowing the importance of Market Qualified Leads (MQL). Most importantly, using the MQL or hand raises to your advantage.
How to Turn a Prospect (hand raise/MQL) Into a Client
How can you turn a prospect with initial interest into a client? What is the significance of market qualified leads in the MSP ecosystem? How can IT vendors and sponsors use MQL to boost their brand? Comprehensive knowledge of what market qualified leads means and its essence is vital in this case study.
What is MQL?
The right leads will have a significant impact on the actual sales of a business, especially in the managed services provider arena. Market qualified leads (MQL) refers to a prospect that has shown some level of engagement or interest. MQL is a genuine lead, which is most likely going to become an actual customer or client. Thus, if you are an IT vendor, an MQL is an MSP who is most likely going to be a client or partner.
You do not need just any leads but rather Market Qualified Leads because this is where visible results to your advantage lie. The main goal of a marketing strategy is to turn a lead or prospect into a real client. Take advantage of the initial interest of that lead and use it to convert them into quality leads.
Market Quality Leads Case Study
In this market qualified leads (MQL) case study, we will explain what our sponsor does with our MQL or hand raises. It will also show their strategic plan implementation in effectively converting prospects into clients.
While we acknowledge other effective ways of maximizing these market quality leads, there are main strategies or tactics highlighted. These are essential steps in achieving the desired results and how MQL is used for them to make it happen:
Planning and Brainstorming
A sponsor had the great idea of working with an established and reputable service provider in the industry. In this case, an international retailer of steaks, seafood, and food gifts. This is the first stage of maximizing MQL and using it to your advantage as a business.
It is important to identify a workable and efficient marketing plan. See which service providers have the full potentials of forging a partnership with you and help you grow.
Establishing a good network of people in the same trade is the start. There are various ways that you can do this such as participating in communities in your respective industry. Who are the big names and which company can give you higher chances of reaching your business goals?
In the MSP ecosystem, this promising and growing industry has communities such as ForzaDash to join. IT vendors can register and join to find the widest network of potential MSP partners.
Research and Marketing
Once our sponsor receives one of our “hand-raises” or MQL, they conduct their research on these quality leads. Comprehensive and reliable research allows you to gain some important details about your prospect. For instance, get their mailing address where you can ship them a low-ticket item from the catalog of the retailer.
In this case, the sponsor shipped a small container of their signature seasoning. The retail price for this item is 3USD. The box that the prospect received was from the retailer. It did not have any of the sponsor’s information on it.
As for IT vendors, marketing your IT solutions to a potential client requires thorough research, initially. Get the data of the MSP partner and send them samples that they cannot resist. You should give them an overview of what awaits them, should they choose you as an IT partner
What’s Inside the Box
Tending to/Cultivating a market quality lead is a tricky, tedious task to begin with. You need to be careful in your strategy as it will make or break your result. A good starting point is to use the persona of your MQL to determine the best tactics. As for the example sponsor, they sent a small box with their signature seasoning.
The MQL received the box along with a letter from the sponsor. The letter contains the letterhead of the sponsor.
This is an example of the letter that you can send to an MQL and, in your case, a managed services provider. Your content will potentially ensure quality conversion from prospect to the actual client.
Dear (First Name),
⚫ The introductory paragraph should mention some essential contents that would immediately capture their attention. Start wishing the health and well-being of the receptionist. Highlight the current pandemic and its impact on the industry and how this is relevant to their business.
⚫ Continue with a small paragraph highlighting 3 bullet/number points on how your solution can help MSPs:
Our IT solutions facilitate better MSP management services, making business operations faster, better, and more efficient. New technological advancements create a one-stop platform for MSPs to do everything virtually with ease and convenience.
Our IT services help MSP partners become more productive in their services with the help of your (the Sponsor) services. You can perform multiple IT tasks with a user-friendly IT feature that enhances user experience.
Our IT products will help you maximize business growth and profits by ensuring quality results and less than zero error margins. MSPs make better investments by partnering with reputable IT brands that offer the latest technology and solutions.
⚫ The next important thing to do is to provide a Call To Action (CTA), which is a special offer:
✔ You can call a specific number or visit a specific website with a special URL. For example, a particular deal may want you to request a 30-minute online meeting. The irresistible reward that prospects would get can be a $100 gift card to the retailer.
✔ Reiterate the deal using a landing page or the special web address or URL. Get the initial contact details of the MQL such as their first name, last name, company, phone number, email, and country.
✔ Book the meeting with a scheduler page that will appear as soon as the recipient completes filling out the required details.
⚫ Sign the letter with a senior position in sales
⚫ In the case of the sponsor example, the hard price of the item is around US$10, including the box, letter, spice, and shipping.
With this strategic marketing plan, the sponsor has reported over 85% closure of sales in less than 30 days. Potential MSP partners would want to see how successful you are. Show them why they should choose your IT solutions and forge a partnership with you.
The case study shows that the sponsor’s strategic marketing plan and tactics yielded tangible and desirable results. More than 85% of sales closure has been confirmed, which means prospects became actual customers. Furthermore, the 30-day time frame for achieving sales growth is an impressive and appealing one for MSPs.
Personalizing your Pitches
The strategic way of using MQL through this case study example can be made more effective if you personalize your pitches. No amount of research and offers can beat a personalized and customized promotional strategy. In the sample letter, the sponsor started by addressing the recipient by their first name.
Personalization of pitches demonstrates that you are in the business of establishing an honest and sincere human connection. You show your potential MSP partner that you are in this for mutual benefits and success. Thus, a good marketing strategy is to identify your MQL.
You can still make or break the process depending on your approach. Make your approach highly personalized and form a rapport with your potential MSP partner. Show them that you are not just an IT vendor offering the best IT solutions and services. Using MQL to your full advantage means making them realize that choosing you is the best choice they can make.
Market qualified leads are your golden ticket to business sales, profits, and overall growth. In sales and marketing across industries, the main goal is to win new business or partnership. This starts with maximizing MQL to convert prospects into lifelong customers, clients, and partners.
However, the hardest part of using MQL to your advantage starts with getting your strategic plans established and executed. However, investing in this process will have lucrative returns especially in getting qualified leads. It delivers shorter sales cycles as well as meeting more sales quotas and profits.
IT vendors have the highest chances of boosting their business in an extremely competitive industry. Learn the building blocks of establishing and executing winning lead generation for your marketing campaign. Most importantly, master the art of turning hot prospects into your most loyal MSP partners using market qualified leads. Join the ForzaDash community and discover how you can maximize MQL for your business success!