Product qualification is a process where leads are qualified based on how they engage with your product. This is primarily done by SAAS and other web application based business models and marketers use PQL strategy along with marketing qualifying leads.
In this model, product qualified leads are those who have taken high-intent actions on the product and are receiving proper value to consider a purchase.
Some lead actions for SAAS businesses that help in product qualifying leads are:
- Starting free trial
- Adding payment details
- Completing significant account setup steps.
- Adding team members.
- Integrating your product with other tools in their framework.
- Crossing trial usage limits.
You can product qualify leads on Salespanel by using segments and/or lead scoring. With lead scoring, you can gradually qualify leads based on each desired action and give points according to weightage. For example, if completing account setup is a behavior most qualified leads show then you can assign higher points to it. Assign 10 points when leads add team members and 30 points when they add payment details.
The easiest way to product qualify leads on Salespanel is to use the URL Visited data point. Add the URL that leads are directed to when they complete an action and use it to create the segment or lead scoring rule. To give an example, you can use the onboarding/welcome page URL to determine when leads start a trial.
The PQL model can also be combined with MQL model on Salespanel as Salespanel provides a lead’s individual and business information. This includes information like job role, company size, industry, etc. Combine the two models to get the right leads into your sales pipeline.
You can read more about product qualifying leads here.
Let us know if you have any questions or need help in setting up a qualification process based on ‘events’.