Lead scoring enables marketing automation, improves efficiency of Sales & Marketing and increases revenue. 73% of Leads are lost without a prioritization system reps struggle with leads that are not sales ready. "It works: 68% of “highly effective and efficient” marketers pointed to lead scoring as a top revenue contributor." Surprisingly, many companies still don't score their leads. According to MarketingSherpa's B2B Benchmarking Report , while many are thinking about lead scoring for their business, only 21% of B2B marketers have actually established a lead scoring program.
Instead of spending time cold-calling and following up with potential bad fit leads or even worse uninterested parties, your sales team can have more engaging and meaningful conversations and invest their time in activities that yield better results.
By filtering out bad fit or unqualified leads, a scoring system can also increase efficiency within the sales cycle . A pure and concise conversion process means you can win more business opportunities with fewer sales reps. Assign a score to each website activity below measurement which are determined by and agreed upon by Sales & Marketing.
USER GENERATED DATA:
Ideal Customer Data - based on website activity
• offer downloads
• landing pages/forms filled out
• email opens/clicks
• events/webinars attended
• website presence
• job title
Remember, some of these website actions will also attribute negative lead scores, in order to let the sales team know which leads are going to be a good fit. For example, If a prospect whom visits your website is in an industry that you know is not a good fit, you can assign a negative value for this industry. This wont necessarily mean that you wont do business with anyone in that industry, it just prioritizes and scores them as such.
Negative attributes are things like, unsubscribing from email, unqualified revenue or incomplete or incorrect data on contact record. A lead may download all your offers, give you all their info and have a high lead score and but not be qualified for other reasons. It is just as important to know who we don't want to do business with as it is who we do want to do business with.
Prioritize the most important information, and don’t ask too many questions to a prospect on first contact.It’s important to consistently evaluate and update your criteria and get feedback from Sale & Marketing. You’ll also need the right tools for tracking leads from capture to close, in order to know which metrics succeed and which don’t. Closed-loop reporting and marketing automation technology will play huge role in the analytics process.