Lead scoring is the process of evaluating leads or potential sales. It allows you to determine which leads are worth pursuing and which ones are not. This article will discuss some best practices for lead scoring that you can implement to increase your lead scoring.
It is not a new concept to use content to generate leads for your business. As people discover that the right content can help their business acquire more clients, lead scoring has grown in popularity. What are the best lead-scoring practices?
Many people are scared of this method, however, because they need to understand its implications. This article will explain lead scoring and provide some best practices for lead scoring so you can quickly implement it in your business.
What is Lead Scoring?
Let’s first understand the basics of lead scoring before we get into the best practices. Lead scoring is a way to prioritize leads based on the likelihood they will convert into customers.
Your lead score will increase the more likely you make them pay clients. This works by creating an algorithm for each type of business (i.e. B2B, or B2C), and then assigning points based on the value it brings to your company in terms of revenue, profit potential, or both.
Once someone has filled out the contact form, they will add information about the type of business they are interested in. The lead score is then added and the greater your chances of getting a reply.
Lead scoring is a way to identify leads that are most likely to convert into clients. This allows you to ensure that only high-scoring prospects get through the form by asking for information about the type of business they want to sell or buy.
Another way to put it: The better your lead score on any given day is, the greater chance you have of getting a reply.
What are the Different Lead Scoring Models?
These are some Lead Scoring Models for
1. Lead Scoring Model – This scoring model uses the maximum three variables to calculate lead qualification scores. It’s easy to use. Simply enter your criteria (e.g. number of calls received within the last 30 days) to get an accurate score for each contact.
2. Weighted Leads Score – This scoring method assigns different scores depending on factors like industry or business size.
You can also create custom weighting models in your account by simply dropping fields from other tabs into the same tab.
3. Numerical Score – This scoring model assigns numeric scores to each lead based on the data provided by them, such as their job title and company size.
It is simple to use, and users can access all their leads from one dashboard.
4. Salesforce Leads- This scoring system uses the maximum value of both numerical scores & weighting factors (e.g. number of calls received in the last 30 days) to calculate your final score. It also includes many pre-built templates that allow you to easily create custom campaigns, without needing to input any data manually.
5. Gravity Score – This scoring model assigns numeric scores to each lead based on the value of the stage in the sales process. It’s easy to use and allows users to access all their leads from one dashboard.
7 Lead Scoring Best Practices
These are my top 7 best lead-scoring practices as a Lead Scoring Specialist.
1. It is a good practice to avoid imposing quotas on your lead scoring process. This is especially important if you don’t want to lose high-quality leads due to their performance on your website form.
Instead, you should give all qualified leads the same attention and effort from beginning to end, regardless of what information they provide during scoring (e.g. name, email address)
2. You should not use the same scoring criteria on all leads in your system. Otherwise, you’ll end up with duplicate scores that are difficult to track and manage.
Instead, make different rules for each lead type (e.g. new versus repeat). This will ensure that every qualified lead is scored using a unique combination of information they have entered on your web form during their interaction with your company and any additional data they may provide via follow-up emails or calls from your CRM system (e.g. email subject lines).
3. Don’t let scoring criteria stop you from nurturing your leads, especially if it is important to prevent high-quality leads from getting lost.
Instead, create a set of simple rules that allows for follow-up calls or emails, regardless of whether the person is qualified (e.g. phone number) and has provided sufficient information (e.g. email subject lines).
4. If you decide to use quotas in your scoring system, ensure that they are realistic targets based on how many leads your CRM system receives each day.
If you have a lead scoring system that requires three calls before a lead is qualified, set your quota at 3. Make sure it does not exceed 20% of all leads that come into your CRM system each day.
5. You want people to be more responsive when they call or email you from your CRM system. This could lead to some prospects not following up with you.
Instead, encourage them in other ways that don’t penalize them for being late. They will still receive the same results as if you were early callers or emailers. However, they are now receiving penalty points for taking longer to give additional information than they expected after your initial contact.
6. Avoid using quotas if you can. They can make people think it’s okay to not follow up on an email or call.
Instead, you can find other ways to encourage people. Don’t focus on how many calls or emails they make. Instead, think about whether their information is complete.
7. You might consider adding quotas to your CRM system if it does not already have them as part of its scoring process. This will allow you to encourage people to follow up with your system more than once.
If you have CRM quotas, but they do not depend on how many calls or emails people make to your system (e.g. via auto-attendant, or any other automated means), you might consider removing them. This could cause some prospects to think it is okay to not follow up with a call or an email.
What is the best time to start scoring my leads?
Scoring your leads should be done at the beginning of each quarter or month. This is what most people do in business, so why not?
This is mainly because it lets you see how many contacts you have made in the past 3 months or whatever period you choose. It also helps you plan.
This allows you to easily identify any changes and also track how your business performs over time.
Best Tools For Scoring Your leads
The management of leads can be done with a lead scoring tool. A lead scoring tool is used to find the most qualified leads to sell to.
A lead scoring tool’s main functions include predicting which type of call will generate what response and how likely it is that the desired action will occur.
There are many tools on the market with different features. Many tools also integrate marketing automation capabilities. There are many tools available on the market. Here we list the top lead-scoring tools to help you make a decision.
1. Adwerx – This CRM lead scoring tool allows you to quickly segment leads and prioritize them.
Adwerx offers a variety of pre-built templates that allow you to create segments for your leads based on one or more variables. This will help you prioritize and track your leads which can be difficult to track with a spreadsheet.
2. LeadScape – LeadScape runs on the CRM platform. It allows you to score leads and assign them different scores depending on your needs.
LeadScore’s interface is simple to use, making it easy for both novice and experienced users.
3. LeadSift – This CRM lead scoring tool can also be used with Salesforce, Zoho, and HubSpot marketing automation platforms.
It is compatible with Google Analytics, so all data will be merged in one place. LeadSift allows you to score leads using the same criteria as CRM data.
4. LeadBox – This amazing lead scoring and management tool comes with great features like integrated marketing automation capabilities (based upon HubSpot), social networking integration, email autoresponder functionality, and content creation tools.
You can create templates to allow you to group your contacts according to their goals or needs. This will make it easy to prioritize them based on certain factors, such as budget or profit targets.
5. LeadDog- LeadDog, an incredible tool that can manage all aspects of your lead management process, comes with many great features. It is compatible with HubSpot, Salesforce, and other CRM platforms.
You can create customized templates for different types of leads, such as new prospects, qualified clients, or existing customers. You can also create custom fields to score leads and assign different scores depending on the type of contact.
6. LeadNest – This CRM tool is amazing. It allows you to manage all aspects of your sales process from one dashboard. It comes with prebuilt tools like social media campaigns, email automation, landing page creation, and more.
leanest can be integrated with Google Analytics, so you can track every step of your funnel!
7. LeadsFeeder – Another amazing CRM tool that allows you to track data and also allows users to access it via a mobile application.
It is easy to use and has great features like lead scoring, social media integration, and content creation tools. It is compatible with HubSpot, Salesforce, and other CRM platforms.
8. LeadGator – Another amazing tool, it comes with many features like lead scoring (based upon the type of contact), content generation tools, and so on.
It is easy to use and integrates into your email marketing platform, so you can create custom campaigns based on certain criteria.
9. LeadsInsight – This is an amazing tool that allows users to manage their entire sales process using a single dashboard. It comes with pre-built tools such as social media integration and landing page creation.
LeadsIn sight can be integrated with Google Analytics, so you can track every step of your funnel.
10. Salesforce – This CRM platform is the most widely used. It’s compatible with numerous other platforms like HubSpot, Marketo, etc. Salesforce- It lets users access their data via a desktop or mobile application, making it simple for sales reps and customers to track their progress at any hour of the day.
