What is lead scoring?
Not all leads are ready to buy now. Some are closer to a sale than others.
Not all leads will buy the same. Some will buy more than others.
Lead scoring helps us in this process to determine who is ready to buy now; and who will buy more and more frequently.
There are two important dimensions when creating a lead scoring system.
There some key dimensions are:
– Demographics
– Geographics
– Psychographics
– Behavior
Demographics is things we can define (count). For instance, man or woman size of a company, industry, etc. Geographics is where people are based. Psychographics describe consumers on psychological attributes.
All of these factors are used in market segmentation. Today we can do hyper-segmentation and communicate on a one-on-one basis; and automate some of these processes (that is marketing automation).
Behavior on the other hand is how the customer is interacting with the company. If there are a lot of interactions their behavior is showing they are interested and getting ready to buy.
Interactions can be visiting the website, opening emails, clicking on links.
Your CRM tool should aim to help you define both demographics as well as their behavior.
Lead scoring forms part of your marketing and sales strategy.
You need to define the behavior and demographics. This will form the base of your lead scoring calculations.
Using digital marketing tools you will be able to identify the right behavior and link this up with the client demographics.
Why is this important? You want your sales team to talk to leads who are closer to a transaction. This will improve closing rates and be more effective use of their sales time.
I believe lead scoring is the #1 factor linking marketing and sales efforts. The reason is both departments and now focusing on the right type of client, with the right behavior to deliver better ROI as a whole for the company.
Lead scoring is a long term process. Frequent tweaks and improvements are needed. It is very similar to online games where abilities are tweaked over time to make game-play more fair.
Interested in lead scoring for your business? Contact me today and ask about lead scoring.
