Lead scoring, which is the act of evaluating a lead’s worth to support qualifying efforts, has emerged as a crucial means of enhancing operations.
Lead scoring is the practice of allocating numerical values to various characteristics of your consumers to evaluate the potential value of a lead using a points-based system. Based on a variety of characteristics, leads might gain or lose points.
We all understand that some client types have higher lifetime values than others and that some have higher conversion rates. As a result, your sales staff is better equipped to recognize hot or high-value leads, allowing them to concentrate their resources where they will be most effective.
There are a few significant repercussions of lead scoring that merit discussion. You can discover that some of your marketing campaigns are aiming at the wrong audience segments while developing your scoring system, practically dooming yourself to failure. Additionally, you might have given your sales team bad advice on which leads to pursue. This can help you concentrate on several sections, increasing your chances of acquiring high-quality leads more quickly.
The following techniques and methods will help you develop a set of lead scoring rules with sufficient complexity to properly prioritize your leads and have a categorically balanced score distribution that takes behavior into account.
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Leverage targeted content:
Abe Breuer, founder and owner of VIP To Go shares; “There is no such thing as a one-size-fits-all approach to lead nurturing. According to research, nurturing your leads with relevant material will help you achieve much better outcomes.
Work on comprehending each of your distinct buyer personas first. Create a variety of customized content depending on each of your personas’ traits, such as interests, goals, objectives, and marketing triggers, to nurture each of them.
As you scale your plan, you should also have marketing automation technology in place to assist you in locating, classifying, and concentrating on your distinct customer personas.”
Determine the Threshold
Andy Golpys, the co-founder and creative director at MadeByShape states that; “A threshold value is needed for deal scoring; when it is reached, it indicates that the lead is prepared to move forward.
One of the most important leads scoring methodologies is having a scoring threshold to guarantee that only eligible leads are passed along to representatives.
Unambiguity is eliminated and the lead scoring procedure is improved with a clearly stated criterion. It assists in determining which leads should be prioritized and which are ready for assignment.”
Focus on multiple touches:
Even though every product and service has a unique buyer’s journey, research has shown that, on average, prospects are exposed to ten different targeted advertisements before becoming consumers.
As you can expect, the most effective lead nurturing tactics distribute information that assists prospects in moving forward in the buyer’s journey by addressing frequent queries and worries. Consider how you may nurture your prospects into customers using a variety of content formats, in addition to email tactics, such as social media, blog posts, whitepapers, interactive calculators, and even direct mail.
Sam Underwood, owner of Bingo Card Creator advises the following:
“Automated lead routing and scoring can help you save time and get in touch with prospects early. To accomplish this, you can use a lead scoring tool with automation.
The leads ought to be immediately forwarded to the sales agent whenever they surpass the scoring criteria. This can facilitate a timely connection with the prospect and increase sales.
Furthermore, some activities, like asking for a demo, might instantly qualify leads. By automating the assignment of these leads, time is saved and the buying experience is improved.”
Customize According to Your Needs:
Your lead scoring needs to be adjusted based on more valuable activities. This is especially crucial if you sell a variety of goods.
In this case, you require a unique lead scoring system that takes into account the most important indicators for that particular offering. A general lead scoring approach cannot accurately express how qualified a lead is for that particular product line. Creating several lead scoring systems from a variety of products will further improve your company’s sales effectiveness.
Disqualify Certain Leads:
Even though you might want to keep leads around for as long as you can, keeping hold of non-converting leads will just be a waste of time. As a result, you must discard leads that are unlikely to convert.
Disqualifying such leads might help you avoid wasting time and money on advertising to potential customers who are not interested in your offering.
Jack Sobel, owner of a steel fabrication company and philanthropist involved in RMBH Charities claims that; “A strong lead scoring model’s guiding principle is “create it and refine it,” not “set it and forget it.” Update your scoring procedures often depending on the most recent client data to keep your lead scoring model as accurate as possible.
For instance, the lead scoring threshold is probably too low if a large number of leads are qualified but only a small number are converted by the sales department. Or, you might need to adjust how you weigh those factors if you detect a change in the behavior of prospects or a rise or fall in sales from a particular persona.
When it comes to pursuing leads and employing prospecting tools for sales, lead scoring enables sales professionals to work more intelligently rather than more laboriously. By concentrating only on qualified leads, you may avoid wasting time and energy trying to connect with and convert prospects who are simply not ready and may never be.
But keep in mind that a lead scoring model needs some upkeep. Check your client data to determine whether your model needs to be adjusted or if it appears that your leads are being overvalued or undervalued.”