What is lead scoring?

The right approach to assessing potential customers ultimately yields accurate models for predicting which specific groups of people will buy your product, service, or service.

Or at least who is most likely to buy it.

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Generation

Any business will prosper if it has a reliablelead generationAt the same time, with a large lead flow, your attention should become increasingly selective. There's no point in rushing headlong after multi-page databases of dead-end leads; instead, focus on nurturing promising and attractive ones. "Quality over quantity"—this slogan is apt in this context.

To separate the dead ends from the promising ones, you need to have a working customer evaluation model in addition to business intuition.

Scoring

Scoring helps marketers and data scientists identify unqualified leads from their customer base who are unlikely to ever make a purchase or are unlikely to do so.

This, in turn, will provide data for direct sales teams to focus their efforts on, helping them determine what existing opportunities are needed to close deals. This will help them understand, not just abstractly, but realistically, who they attract, what types of customers are likely to make a purchase, and which groups to target to ensure maximum attention.

Kit

To accurately score leads, you need a set of measuring instruments. A ruler is unlikely to be sufficient. Math and notes are more likely to be helpful. To evaluate leads, develop a scale of important indicators with gradients. Assign numerical values ​​to data points based on the importance of the event or the leads' purchasing behavior.

For example, if there's ongoing interest in your product or service, the lead is qualified. Simply put, your sale is likely to close.

By gathering all the important metrics, you can combine them into a custom formula. You can use it to track your leads using automated or any other CRM. We recently discussed options in ourblog.

Using this principle, you can effectively identify leads that are qualitatively ripe for purchase. And, accordingly, you can filter out those that prove low-potential.

Models

Let's look at common factors in customer assessment models that are reliable for businesses of any type.

Sales and marketing.If your marketing strategy is flawed, you'll mistake an unqualified lead for a qualified one, and end up in a futile race for a sale without results. Meanwhile, good leads will sit in the corner without your excellent product. You need to test what works and what doesn't, without resorting to empty rhetoric and endless developments. Test your sales funnels. Check where customer churn is coming from, and set critical thresholds. If communications within the strategic planning team aren't aligned, this can also undermine a well-designed model. Departments must work together to guide the customer through the sales journey to a successful purchase.

Threshold.When assessing a lead as a potential customer based on their usefulness score and purchase readiness, keep an eye out for exceeding the threshold. When this occurs, your lead is routed from the marketing department to the sales department. The threshold is the key here. If the threshold is low, your sales teams will be wasting their time and becoming frustrated, as the lead is essentially unqualified. Conversely, if the threshold is high, your hot leads will simply go to competitors, as languishing and waiting for your attention is not what good leads need.

To accurately determine the entry threshold, look at your business statistics. If you're not a newbie, you probably have irrefutable data that shows which leads are qualified and which are not. For example, with a free servicetrial periodIf a lead becomes a buyer, this indicator should be included in the evaluation model as a key one, and the entry threshold should be lowered. For such a lead, based on these qualitative characteristics, it immediately becomesMQL – Marketing Qualified Lead.

Build your own CRM model that routes leads to sales teams promptly when they reach the required score.

Quality indicators.This includes analyzing leads by demographics, profession, gender, age, experience, and anything else that could influence the final result. You'll agree that there's no point in trying to sell a cast iron machine to a woman who loves French perfume and purple cashmere coats. Clear factors for such evaluation criteria can be developed by surveying your customers, asking them relevant general questions, and genuinely inquiring about their desires for the final product. Surveys can be implemented alongside access to exclusive offers and pre-sales.

Additional assessment.Evaluate customers based on their behavior on your website. How the customer interacts with your service on your social media. Are they subscribed to your newsletter and yourblog, does he read your letters?

Past the checkout.If your competitors are researching your website and this results in activity from them, that's certainly a plus. However, this is irrelevant and doesn't indicate any points for this group, which won't be your target customer. The same applies if the activity comes from people who want to become your employees and show interest in the product. You need to be able to distinguish who is a customer and who isn't.

Silence.If a lead is inactive and hasn't moved for years, they're probably still alive, but for you as a business owner, this isn't the kind of comforting news you need to sell your products and services. It's important to downgrade leads if they're inactive and not moving forward in the funnel. This will prevent cluttering your model and allow you to focus on more valuable leads. Also, consider the actions your potential clients take to solidify their qualification status in your model.

Secure qualified leads when they provide you with metrics of interest and back it up with purchasing behavior, and don't persist in chasing ghosts.

Modernization

Designing and developing a lead generation model is the foundation for a business's success.

Supporting and using the model is a daily reality and a necessity for confidence in the future.

Modernization and improvement is a commitment because the demands of both people and times are changing rapidly.

Weigh all variables to ensure your decisions are always relevant and accurate. Adjust data and introduce new indicators dynamically.

Work smart, focus on qualified leads, it will save you time, give you satisfaction and take your business to even higher levels.

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