ENSURE THE BEST LEADS ARE PRIORITZED ACCORDING TO REVENUE POTENTIAL AND BUYER POTENTIAL
Lead scoring ensures the best leads are prioritized according to revenue potential and buyer potential, and pursued by sales accordingly. It is generally comprised of an explicit score (based on profile information that qualifies your interest in a prospect) and an implicit score (based on their engagement that qualifies your prospect’s interest in you). Combining both scores enables you to send qualified leads to sales.
THE BENEFITS OF A STRONG LEAD SCORING MODEL INCLUDE:
>Increased marketing effectiveness; since it quantifies what types of leads or lead characteristics matter most, which helps marketing target its inbound and outbound programs and deliver more high-quality leads.
>Increased sales efficiency and effectiveness; since prioritization ensures sales receives high-quality leads, which increases their conversion rates.
According to the Aberdeen Group, 68% of best-in-class companies use lead scoring in comparison with 28% of laggard firms.
WE CAN HELP GET LIFT has guided clients through the process of designing, implementing, managing, iterating and evolving a lead scoring model tailored to their business and desired prospects.
Employing lead scoring best practices, we do the following:
We establish a lead scoring framework as an outcome of a Sales and Marketing Alignment workshop. We identify the criteria required to help you determine whether a lead is a good fit for your business and whether the lead has a high probability of being ready to talk to sales.
We will help you build the lead scoring framework into your Marketing Automation Platform. We often implement ‘Progressive Profiling’ as part of your form strategy to ensure you’re getting useful data from prospects without bombarding them with excessive form fields.
Depending on the length of your prospect’s buying cycle, it could take some time to assess whether your lead scoring model is effective. Managing your lead scoring is done quantitatively through looking at lead conversion metrics, lead velocity and snapshots of your lead database. It’s also worth gauging your sales team to get their feedback on the change in lead quality and volume.
Generally, lead scoring is never perfect the first time and needs to be adjusted to be more lenient or stringent in order to optimize the quality and volume of leads sent to sales. Additionally, updates may need to be made to lead scoring based on new marketing tactics that could have an impact on engagement scores.
Once your baseline lead scoring model is established, you may consider adding a level of sophistication. We can help you evolve by creating new models to support:
Multiple products or multiple regions
Account-based scoring vs contact-based scoring
3 signs that you might need a lift with your Lead Scoring:
The leads that you’re sending to sales are not objectively ranked or prioritized.
Sales don’t take your leads seriously because they claim they’ve wasted too much of their time sifting through unqualified leads in order to find the good ones.
Your collective marketing-to-sales conversion metrics (MQL to SAL, SAL to SQL) are well below the standard for your industry.