Lead scoring is a process that involves assigning a score to each lead based on how likely they are to become a client. You could assign points based on specific criteria, like company size or whether they open your emails, and then rate leads in your CRM or even a spreadsheet. The goal is to prioritize the right leads so you focus your energy on those most likely to buy.
If you’re spending time chasing cold leads or wondering why prospects don’t convert, you may want to take a closer look at lead scoring. In this issue of PromoPro Daily, we share some best practices from the BIGContacts editorial team on how you can make the most of your lead scoring process.
- Choose attributes effectively. The BIGContacts post says it’s important to ensure the lead score accurately represents the lead’s interest. Assign higher scores to actions that carry more value. These actions might include completing web forms or high page views per session.
- Set a clear buyer’s persona. This allows you to quickly identify prospects that fit perfectly with your business. The post says once you know important information like industry, job title and budget, you can incorporate information like email open rate and social media interactions in your lead scoring.
- Determine the threshold. Having a scoring threshold is critical the post says, because it ensures that leads are only handed off once they are well-qualified. A clearly defined threshold takes away ambiguity and helps identify which leads are ready to be assigned and which leads should be prioritized.
- Include score degradation. According to the BIGContacts post, your lead scoring process must include negative scoring. For example, you could reduce lead scores based on inactivity. Set a time and then reduce a lead’s score once you determine they’ve become inactive.
- Automate actions. This allows you to reach prospects at the right time. The post says that once leads cross the scoring threshold, they should automatically be routed to a sales rep.
- Monitor conversion rates. The BIGContacts post recommends using analytics to find out if the leads you are qualifying are actually converting.
- Customize according to your needs. A customized lead scoring system is always better than following a generic model. Consider the most critical metrics and build a lead scoring system that can enhance your sales effectiveness.
- Disqualify certain leads. If you determine that a lead is unlikely to need your promo solution, let them go for now. The post says that hoarding leads that are never going to convert will only end up wasting time and resources.
- Revisit the scoring model. Regularly review your lead scoring process and make sure it helps you reach your full potential. According to the post, routine reviews and feedback incorporation can help you keep up with market trends.
The right system makes all the difference when it comes to lead scoring. When you master the process, you get a clear sense of who’s ready for a sales conversation and who needs more nurturing. Follow the best practices above to build a smarter pipeline and maximize your efforts.
Compiled by Audrey Sellers
Source: The BIGContacts editorial team, comprised of customer relationship management experts.