PART 2
Lead scoring does not have to be complicated:
As previously discussed lead scoring should be the Holy
Grail for sales people! Lead scoring is
when sales and marketing defining what a ‘sales ready’ lead is and the lead being handed
to Sales on a plate with key information about that prospect’s behaviour.
Scoring can range from 1-20 dependent on the actions of the lead, and should
be enough to give your sales rep a good idea of what their leads have been
doing. Once the lead builds up their score they pass through thresholds taking
them from a cold lead, to a medium lead and eventually a hot lead – effectively
the lead is moving from an MQL to an SQL. As an MQL, nurturing campaigns encourage
the prospect along the sales cycle by offering tailored information in the hope
of resonating with the individual. A
prospect enjoys being sold to when it is relevant to them!
When the Lead hits the Hot Lead threshold this is when it’s
time for your sales team to pick up the phone!
Research shows that 35-50% of sales go to the vendor that responds first
and lead scoring can help you become a front runner. Alerting your sales team when prospects reach
a certain score will mean your organisation really can be in the right place,
at the right time talking about the right product!
Here are some top tips to help with your Lead Scoring:
1 – Keep it Simple
People can get very carried away with lead scoring, but the
scoring really needs to focus on the main calls to action that will help
increase your sales team’s productivity.
2 – Understand your Leads
Who are you targeting?
Which decision makers do you want to chat to? For example if you are an
IT company you would want your sales team talking to IT Directors as these
people have the best profile for making IT purchases. You can then assign
points based on the leads job title and this will give all the IT Directors a
head start on the rest of your database.
3 – Automate your Marketing
Once leads are qualified and start to move up through your
lead scoring you want your sales reps to know that their leads are active. When
leads hit scoring thresholds, alerts can be sent to sales reps and the lead can
be added to a specific nurture campaign or added to a specific data list. The
email alerts will be sent straight to the sales rep who can then follow up
immediately. Companies that excel at lead nurturing generate 50% more sales
ready leads at a 33% lower cost.
4 – Cold today but Hot tomorrow
Not all leads will be active immediately. 79% of marketing
leads do not convert into sales. Lack of lead follow up is the common cause of
this poor performance. Most leads will need to be nurtured as they will not be
‘ready to buy’ immediately. Their lead score may be low and their activity
limited to a few opens and clicks in emails, but instead of ignoring or
disqualifying these leads - they need to be monitored. Never jump the gun by
dismissing low scoring leads. Follow up marketing will keep the lead interested
until you can hit the right note with them, or when they are ready to engage
with you - alerts will be sent to your sales reps.
Enjoy setting up your lead scoring but remember you need
sales and marketing input and expect to make some changes so that it can become
automated. Invest time now and reap the
rewards soon! And remember why you are
doing this - a good lead scoring strategy will increase conversion rates!
References –
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