A lead is any person who indicates interest in a company’s product or service in some way, shape, or form.
Leads typically hear from a business or organization after opening communication (by submitting personal information for an offer, trial, or subscription) … instead of getting a random cold call from someone who purchased their contact information.
Let’s say you take an online survey to learn more about how to take care of your car. A day or so later, you receive an email from the auto company that created the survey about how they could help you take care of your car. This process would be far less intrusive than if they’d just called you out of the blue with no knowledge of whether you even care about car maintenance, right? This is what it’s like to be a leader.
And from a business perspective, the information the auto company collects about you from your survey responses helps them personalize that opening communication to address your existing problems — and not waste time calling leads who aren’t at all interested in auto services.
Leads are part of the broader lifecycle that consumers follow when they transition from visitor to customer. Not all leads are created equal (nor are they qualified the same). There are different types of leads based on how they are qualified and what lifecycle stage they’re in.
Marketing Qualified Lead (MQL)
Marketing qualified leads are contacts who’ve engaged with your marketing team’s efforts but aren’t ready to receive a sales call. An example of an MQL is a contact who fills out a landing page form for an offer (like in our lead generation process scenario below).
Sales Qualified Lead (SQL)
Sales qualified leads are contacts who’ve taken actions that expressly indicate their interest in becoming a paying customer. An example of SQL is a contact who fills out a form to ask a question about your product or service.
Product Qualified Lead (PQL)
Product qualified leads are contacts who’ve used your product and taken actions that indicate interest in becoming a paying customer. PQLs typically exist for companies who offer a product trial or a free or limited version of their product (like HubSpot!) with options to upgrade, which is where your sales team comes in. An example of a PQL is a customer who uses your free version but engages or asks about features that are only available upon payment.
Service Qualified Lead
Service qualified leads are contacts or customers who’ve indicated to your service team that they’re interested in becoming a paying customer. An example of a service-qualified lead is a customer who tells their customer service representative that they’d like to upgrade their product subscription; at this time, the customer service representative would up-level this customer to the appropriate sales team or representative.