Product Qualified Leads (PQL) measures the quality of potential customers by classifying them according to their actions and usage within the product platform. Certain actions in the scope of the product that indicate high intention to purchase are weighted higher and used to classify leads as PQLs.
Assume there are 2,000 customers in trial periods in your project management app. You identify with your historical customer behavior data that customers who add their team to their project within two days of starting a trial tend to convert higher. Out of the 2,000 trial users in your app, 1,600 add their team within two days. In this scenario, you have 1,600 PQLs.
When tracking your PQLs, it helps to add segmentation to your data for more context. For example, you could track your PQLs in a bar chart segmented by lead source.
A Product Qualified Lead is a lead who is potentially more likely to buy your product based on their actions and behaviors within your product. PQLs are said to be better quality leads than MQLs and SQLs because they already have experience in-product and have demonstrated interest that goes beyond page visits and form submissions.
By offering a trial or tracking the behavior of your freemium customers, you can identify the specific actions that correlate with becoming a paying customer. Take care to ensure that you maintain high trial conversion rates by supporting your customer through a successful trial. This will ensure that your PQLs actually convert to paying customers.
