Lead the Way with Successful Lead Scoring
Why waste your time and money pitching to prospective clients that aren’t ready to commit?
70% of a purchase decision is made without contacting a company
Only 25% of incoming leads are legitimate and worth advancing to sales
So what is Lead Scoring?
To quote Hubspot “Lead scoring lets you assign a value to each lead based on the professional information they've given you and how they've engaged with your website and brand across the internet. It helps sales and marketing teams prioritise leads and increase efficiency.”
Lead scoring prioritises sales, by concentrating businesses’ efforts on targeting high quality leads. Both marketing and sales departments can increase their efficiency and productivity by adopting a lead scoring methodology in order to determine the sales-readiness of their leads.
A business’s leads (hot, warm or cold) are scored on various factors including the interest they have shown the business, their current place in the buying cycle and how they fit in with the business’s objectives.
Leads can be scored on demographic, geographic and cross-channel behaviours to improve targeting and follow-up. The leads with a higher score are considered to be close to committing and should be followed up by the sales team.
Businesses that adopt and implement a successful lead scoring strategy are able to focus their marketing activities to maximise the efficiency of their sales team by easily identifying and working with the leads that are ready to commit.
Four key benefits for business who adopt Lead Scoring
- Increased sales efficiency and effectiveness.
Lead scoring focuses sales attention on leads that the business deems most valuable. By listing the attributes which comprise a quality lead, sales agents get a clear picture of the “perfect” prospect that they should be speaking with. The sales team prioritise sales calls by how well a lead fits the optimal lead profile.
Through their prioritisation process, the sales team receive a higher-quality lead (those ready to convert) which in turn increases the business’s conversion rates.
2. Tighter marketing and sales alignment.
Lead scoring helps strengthen the relationship between the business’s marketing and sales departments by establishing a common definition for which lead types are ready to be followed-up.
3. Increased marketing effectiveness.
A lead scoring model quantifies what types of leads or lead characteristics matter most to marketers.
This helps to target marketing efforts more effectively and deliver more high-quality leads to the sales team.
Alignment and trust correlate directly with the accuracy of the scoring model; if too many false positives pass the scoring filter, the scoring model loses credibility and, ultimately, its positive impact on marketing and sales alignment.
4. Measurable Return on Investment
Lead scoring allows businesses to measure the effectiveness of their investment in Lead generation Programs. Lead scoring allows businesses to be able to differentiate sales-ready leads from enquiries, giving businesses the ability to determine how much cost input is required to generate a sales-ready lead.
Lead scoring provides a common language with which marketing and sales departments can discuss the quality and quantity of leads generated.
Lead scoring can work well for businesses, however in order for this to happen both the marketing and sales departments need to work very closely together, from defining the lead scoring mechanism right through to consistently refining the lead scoring process and making it more relevant to the business as the business objectives change over time.
Lead scoring is understandably a complex process, if your company is struggling to convert new leads or if you find your business is losing potential clients then speak to Tri-Synergy Marketing.
We are a digital marketing agency based in Hampshire and we can get you more leads. Call Tri-Synergy on 023 9248 0082.