B2B buyers have changed—and your strategy should too. Are your strategies still centered around the outdated MQL model? You’re not alone, but it’s time to break free and step into the realities of new buyer behavior, buying teams, and multi-threading. These challenges are more connected than you might think.
In this blog post, we’ll explore how buyer behavior has changed, why the MQL model is outdated, and how aligning with contemporary buying processes can significantly transform revenue processes.
Understanding New Buyer Behavior
It’s no secret that B2B buyer behavior has undergone a seismic shift. According to 6sense’s Buyer Experience Report, there are several key trends reshaping the landscape:
Buying in Teams
Today’s buying decisions are rarely made by individuals. Instead, they involve buying groups to make decisions. This shift means that focusing on a single lead, as the MQL model does, is increasingly irrelevant. Understanding the group dynamics, key decision makers and influencers, and addressing the collective needs is crucial for success.
Longer Buying Cycles
Gone are the days of quick sales cycles. Buyers now take longer to engage, conducting extensive research and consulting multiple sources before making a decision. This extended timeline requires marketers to nurture relationships over a more extended period, rather than just chasing fleeting leads.
Anonymous Traffic and Account Activity
With as much as ⅔ of the buying process taking place anonymously online, it’s critical to look beyond individual interactions. Single people visiting a website or downloading content no longer signify intent to buy. Instead, marketers need to aggregate these activities at the account level to understand broader intent, signaling a potential opportunity. Then, and only then, is it time for sales to engage.
Why the MQL Model Is Outdated
The traditional MQL model, focused on generating individual leads, is increasingly at odds with how modern buyers operate. Here’s why it’s falling short:
The Limitations of Single Leads
The MQL model is built on the premise of single leads triggering sales activity. However, with buying decisions made by groups, this approach misses the mark. It fails to recognize the collective nature of B2B purchasing, leading to missed opportunities and premature sales interactions with people who simply aren’t ready to buy.
Inefficiency in Sales Processes
Clinging to the MQL model erodes sales efficiency. Chasing down single leads that don’t represent the full buying group wastes valuable resources. Sales teams find themselves pursuing leads that may not even be decision-makers, or failing to multithread when there are signals of group intent. When you have signals of multiple users from the same account engaging with your content, the same salesperson should be responsible for delivering a unified and cohesive experience across the group.
Transforming Revenue Processes
By aligning with how buyers today buy, companies can transform their revenue process, and as Terry mentions, with increases up to 400% in conversion rates. This means focusing on account-based strategies, understanding buying groups, and nurturing long-term relationships. The shift from MQLs to opportunities based on buying teams is paramount.
Moving Forward with a New Approach
It’s time businesses adapt to modern buyer behavior and abandon outdated models. Here’s a roadmap for aligning with today’s buyers and transitioning away from MQLs:
- Develop Account-Based Strategies: Prioritize accounts, and leave individual leads alone. When they’re ready to engage they’ll tell you. But before you ask for a demo, make sure to offer them something of value. Remember, today’s buyers don’t want to be sold to.
- Leverage Technology for Insight: Use aggregated account data to gain insight into buying group engagement, and avoid relying solely on individual interactions whenever possible.
- Collaborate Across Teams: Ensure cross-functional alignment between marketing and sales, focusing on delivering value to buying teams. A disjointed experience can quickly deter buyers active in the purchase decision, and even prevent future accounts from exploring your solutions.
Next Steps in your MQL Transformation
The transformation away from the MQL model is driven by the need to align with new buyer behaviors. By understanding how buyers operate today, businesses can unlock higher sales efficiency and better revenue processes. It’s time to leave the MQL model behind and focus on strategies that truly reflect the nature of modern B2B purchasing.
For a deeper dive into our conversation with Terry Flaherty and Kerry Cunningham, check out the following episodes of Growth Driver: