What Is Lead Scoring & Why It Matters
Lead scoring attributes value to each incoming lead that determines how it should be treated through the pipeline.
When a lead scoring methodology is created, you rank leads based on a number of parameters such as how likely those leads are to close, and their predicted lifetime value.
If lead scoring methods are correctly applied, they provide your sales team with more relevant leads, that are smartly prioritized.
These principles should save time, create a more efficient division of work, and maximize the chances of closing clients that will be a good fit for your organization.
Here are some tips on how to improve your lead scoring methodology:
#1: Recruit Help Internally
Client-facing roles such as sales teams, account managers, or client success units know your clients and prospects better than anyone. They can tell you which types of leads to prioritize, which are more likely to close, and which are more likely to churn in the future.
Using internal resources can be extremely helpful in refining your current lead scoring system to include traits and characteristics found in your most valuable clients.
#2: Track It Likes It’s Never Been Tracked Before
One thing that can provide a lot of insight as to the level of interest and familiarity a prospect has in you, is their journey through your site.
Have they visited more than once? Have they clicked on links, and spent time on the site? Have they downloaded any gated content? Have they visited a pricing page on your site? All these can be signals that customers are further on in their consideration journey.
This data can give you a pretty accurate feel for whether someone is extremely interested in your business or service, and is exploring options such as the one you provide – AKA a consideration stage.
On the other hand, this data could reveal a prospect who isn’t particularly engaged with your product or service and is merely browsing – AKA the awareness stage.
These leads should receive different scores, which means they’ll be treated differently as they arrive to your sales team’s pipeline.
#3: Get Help From Third Parties
If there’s a metric that is important to your lead scoring methodology – make sure you actually have it.
Have you recently revised your lead scoring system, and made changes that you think will make the routing process more effective? No problem, there are many tools available that can easily help you fill in the gaps between the information you capture and the information you need.
Third-party data can be a great way to enrich your leads without scaring your prospects away with endless steps in your forms.
#4: Review & Stay Updated
The sheer amount of changes in the business and technology world means that only one thing is certain: you’ll have to review your lead scoring methodology.
New best practices, technologies, privacy laws, company goals, etc., the list of possible changes that might affect the way you collect, score, and route leads are endless.
This means you should constantly be reviewing your lead scoring system to make sure the methods you put in place still makes sense.
Even when no outside changes occur, you should regularly review your methodology to make sure you’re still happy with the thought process behind the current lead scoring system.
#5: Lean On Data
If you’re currently using a lead scoring system to help increase your ROI, you should be tracking how effective it is.
Make YOY or MOM comparisons whenever you make changes to see how your scoring system is affecting your conversions.
Sometimes you did all the right research, and thought about all the little details, and spoke to all the correct people, and basically just worked super hard to implement a lead scoring system that will help our sales team kill it. But if the numbers don’t reflect that, then there’s an issue that needs to be fixed, and usually, the answer will be in the data you collect.