Effective lead scoring strategy can be vital to a business’s growth in leads and sales. It can define a lead’s sales-readiness and assist in making the sales cycle as efficient and effective as it can possibly be. Here are some useful tips to think about when implementing a lead scoring program.
Why, what purpose
Lead Scoring is a marketing methodology to determine an individual’s sales-readiness. Leads are usually scored based on their level of engagement with a company’s website at different touch-points. These are determined and adjusted as we learn more about engagement with the website itself.
Lead scoring increases the business’s efficiency and effectiveness, and therefore is an important aspect of the marketing automation tactics. Instead of repeatedly marketing to the same leads, develop a good lead scoring structure and you will better understand sales sequences, improve sale conversions, and produce higher business value. Ultimately, proper lead scoring strategy will be apparent in your bottom line.
Think of the customer’s journey
In the initial building phase of the program, be sure to keep it basic. People often create complex lead scoring models too quickly through lack of understanding. Like any marketing automation tool, lead scoring should be carried out through testing and adjustments over time. Start simple and gradually develop the model based on lead behaviour and engagement to ensure maximum results for conversion.
The model lead
It is important to remember to stay focused on the lead in order to position to them correctly. It is easy to get sidetracked and think about business’s short term needs more than your own customers, and then as a result target the wrong customers, or send out mixed messages.
It’s important to recognise when a lead is ready to be approached by the sales team. If the business is competing for the lead’s attention, it is already too late, but contacting them too early is a waste of resources as well.
A good idea is to take the top 10 leads for the month and discuss why they were successful. Examine which leads exhausted the content and converted the quickest. Assess why good leads were lost.
It is essential to call wins, losses and recycles to gain as much as possible that will help with the future scoring process.
Tweak as time goes on
Once getting an understanding of the characteristics of your model leads and the pattern of behaviour that indicates a purchase, you can think of your lead scoring as a predictive model and continue to enhance and improve it over time. Once it is somewhat precise, you can use the leads in your pipeline to predict your revenue. That’s when you’ll have an effective lead scoring strategy!
Send concentrated messages to the right leads
You may find that your top leads respond to slightly different messaging. By segmenting those leads, you can trial A/B testing that might not work for the less invested leads. You may be able to contact these leads more often or be more assertive with your calls to action.
Just remember to always think of who you are targeting and why, as well as that it takes time to develop a effective lead scoring strategy. Be sure to monitor your best leads, as well as the reasoning for your lost leads and tweak accordingly. Hopefully these tips can help kick-start your lead scoring program as efficiently and effectively as possible. Good luck on your journey!