We all know that sales depend upon leads and leads depend upon good lead scoring. This is because good lead scoring enhances the lead quality. As per recent research, companies with good lead-scoring models witness a higher lead qualification rate.
However, lead scoring isn’t only limited to assigning numbers or points to the leads. Rather it is about building a complete understanding of your potential customers, including a blend of demographic insights, behavioral analysis, and continuous optimization. Let’s see how implementing a robust lead-scoring system within an organization helps with aligning sales and getting better leads.
Lead scoring is an approach used by companies to rank leads/prospects as per their predetermined scale. The rank or score represents the perceived value each lead has for the organization.
These scores are calculated based on leads’ demographic details and how well they engage with your brand. These scores further help sales teams identify all the leads that are worth pursuing and sieve out those that might require more nurturing.
You can assign scores to your leads based on different parameters:
Lead scoring helps identify potential customers who are most likely to buy from you. This means you can focus more on the leads that matter the most to you. Let’s explore why lead scoring is important for your business.
In short, lead scoring helps turn your warmer leads into actual customers while boosting your revenue and creating a better experience for your leads.
Here’s a simple guide to scoring leads in just 4 steps. Let’s see them in detail below:
By following these steps, you can make a better lead scoring system to focus on the leads that are most likely to become customers.
Effective scoring can improve lead quality, boost conversion rates, and enhance team productivity. However, you must know some important metrics to do so. For this, you can:
Lead scoring helps businesses figure out which potential customers are most likely to buy. The most common types are demographic scoring, behavioral scoring, and predictive scoring. Each model scores leads based on different criteria. Let’s look at different models:
Demographic and Company Data
This model scores leads based on who they are and where they are from. For example, if your customers are usually men around 40 years old from the United States, anyone who doesn’t fit this profile might get a lower score. If you only sell in certain locations, you can give negative scores to leads from outside those areas. You can ask questions about zip codes, industries, company sizes, and revenues on your forms to help identify leads that fit your target audience.
Email and Social Engagement
This model scores leads based on how they interact with your emails and social media. Just because someone subscribes to your emails doesn’t mean they’re interested. Pay attention to open and click rates. For example, someone who clicks on a demo email might get a higher score than someone who just opens a newsletter. On social media, if a lead follows your channels, likes, or shares your content, they might get more points. LinkedIn is especially useful for B2B lead generation.
Website User Behavior
This model scores leads based on their actions on your website. For example, they can look for certain questions like:
For example, someone who requests a demo or fills out a form is more interested than someone who visits your site for a while and leaves.
Detecting Spam Contacts
Your sales team wouldn’t want to waste time on spam. Therefore, lead scoring can help identify and filter out spam contacts. For instance, if someone uses a fake name like “Angel Priya” or a generic email like Gmail when you’re targeting companies, they should get a negative score. This ensures your sales team focuses on real leads.
Implementing a strong lead scoring system is crucial for identifying high-quality leads and driving business growth. By focusing on key metrics, leveraging analytics, and seeking team feedback, you can create an effective lead-scoring strategy. Thereby, utilizing a CRM tool and scalable software with automation capabilities will enhance efficiency, allowing your sales team to concentrate on the most promising leads and improve conversion rates.
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