Lead scoring helps you prioritize leads to identify those that are sales-ready and those that continue to need nurturing. When effectively implemented, marketing automation systems and lead scoring tools improve productivity and increase sales.
If you’re on the fence about incorporating lead scoring into your business model, or you’re just beginning to research the possibilities, this blog provides a snapshot of how lead scoring works.
Prioritize
Lead scoring provides you with a roadmap. Which leads should sales receive, or contact first? When implemented correctly, it prioritizes your leads in a manner that allows your sales team to easily identify which leads they should focus on. In turn, this results in more closed-won business. Lead scoring is organization at its best. There is no better way to hone in on those leads that are ready to make a purchase and guide them through the process.
Starting From Scratch
If you’re trying to determine if lead scoring is right for you, the first question to ask is: Is my organization producing enough leads to warrant lead scoring? If the answer isn’t a resounding yes, you will want to perfect your lead generation strategy first. However, if your sales team is overwhelmed with leads and unable to identify those most likely to convert, then implementing a lead scoring tool could be exactly what you need to do to take your business to the next level.
Definitions
It’s time for teamwork. Therefore, round up sales and marketing folks to define what makes an MQL (marketing qualified lead). This involves reviewing all criteria, and evaluating what is the most important (to each department) and why. For lead scoring to be effective, everyone needs to be on the same page. Working together from the onset will set the tone for the entire project.
Lead Scoring
It’s time to assign point values to each criteria. Although there are many ways to address point values, it's best to define what actions and attributes an ideal prospect would have and what that score would be. Set a minimum lead score that confirms that it's worth Sales follow-up. Typically, most marketers rank each criteria on a scale from 1-10. Because no two lead scoring models will be identical, you can adjust them as the business sees fit. You simply need to decide what works best for your organization.
Workflows & Rules
Examine current workflows and create new ones where necessary. When a lead is a MQL, which Sales Rep should receive it? How quickly will sales contact them? Which emails should they receive after being sent to sales? In the case where a lead did not score highly enough, what workflow do they enter into? Setting up the rules is important and will result in improved customer satisfaction leading to more conversions.
Test, Track, Analyze
When implementing any new program it’s critical to test it before going live. Have a group of designated testers review test leads for accuracy and recommend changes. Remember that lead scoring tools will need updates over time. Regularly meet with all users, request feedback, and implement changes. Monitor and track progress through regular reports and analyze the conversion rates.
If your organization is ready to take the leap into the world of lead scoring, we want to talk with you. Give us a call at 571-606-3106 or send an email.
Image courtesy of Sira Anamwong at FreeDigitalPhotos.net
