Should We Lose the Sales and Marketing Funnel Acronyms?

I was recently at a conference where an MD of an organisation stated that marketing funnel acronyms like MQL (Marketing Qualified Lead), SQL (Sales Qualified Lead), SAL (Sales Accepted Lead) …etc, should be ditched, he felt that the business just doesn’t understand them. There appears to be an ongoing debate about whether these terms should be retired due to a lack of understanding among business stakeholders. Let’s explore this a little bit more.

The Problem with Acronyms

Acronyms are designed to simplify communication, but they can often do the opposite. When business stakeholders, especially those outside the sales and marketing department, encounters terms like MQL, SQL, and SAL, they might find them confusing or irrelevant. This lack of understanding can lead to misalignment and inefficiencies.

Enabling Better Understanding

One solution is not to eliminate these acronyms but to ensure that their meanings are clearly communicated and understood across the business. This involves:

Education and Training: Regular workshops and training sessions can help demystify these terms. By explaining what each acronym stands for and how it fits into the sales and marketing processes and reporting, stakeholders can gain a better understanding.

Clear Documentation: Providing detailed documentation that outlines the definitions and criteria for each stage of the funnel can serve as a reference point for everyone involved, straight from the lead funnel through to the opportunity funnel.

Consistent Communication: Regular updates and open channels of communication between sales, marketing, and other departments can help reinforce the understanding of these terms.

The Importance of Agreement

Another critical aspect is ensuring that there are clear agreements in place regarding these definitions. This involves

Stakeholder Alignment: All relevant stakeholders, including sales, marketing, and executive teams, should agree on the definitions and criteria for MQLs, SQLs, and SALs. This alignment ensures that everyone is on the same page and working towards the same goals.

Regular Reviews: These definitions should not be static. Regular reviews and updates based on feedback and changing business needs can help keep them relevant and useful.

Transparency: Clear and transparent communication about these definitions and any changes to them can help maintain trust and alignment across the business.