Lead scoring is a major methodology used in market automation systems such as HubSpot. It is used to rank prospects against a scale that shows the perceived value of every lead to the business. Before implementing lead scoring, though, you should ask yourself these 4 questions:
1. Does Your Company Need Lead Scoring?
As per the MarketingSherpa's B2B Benchmarking Report, only 21% of B2B have established lead scoring for their business. This is because lead scoring is not necessary for every company. It is important to first evaluate your company’s current situation. Firstly, do you currently have sufficient leads in your business? If your company does not have enough leads, lead scoring will be unnecessary. You should be looking into how to generate more leads instead.
2. What Is the Criteria For Marketing Qualified Leads?
Marketing qualified leads (MQL) are the leads who are more likely to convert to a customer based on their demographic information and behavioral data. These would be the leads that you want to focus your marketing efforts on.
In order to identify MQLs for lead scoring, you first need sufficient data about demographics and behaviour. You should first discuss with your teams so as to identify which demographic factors and lead activities result in a marketing qualified lead. You can then collect that information using lead-capturing forms.
3. How Do We Identify And Set Point Values?
After setting the criteria, a point system should be generated with different assigned point values to each qualification. Typically, it tends to stick to the range of 0 to 100 to reflect activity levels that matter more, from the number of pages viewed to the number of content assets downloaded. This baseline will help you to decide which MQLs are more important than others.
4. What Score Can Result In A Sales-Ready Lead?
After setting point values for each of the lead qualification categories, you have to identify the lead score at which it would be suitable to send to your sales team to start a conversation. This helps you align your marketing funnel with their sales funnel, so that MQLs will not receive disruptive calls from the sales team before they are ready. This also helps your sales team to work on the leads who are sales-ready, in order to maximize efficiency and effectiveness.
Do remember that a lead’s individual score may vary over time as their activities can change from day to day.
Remember, don’t do lead scoring manually for each lead. This is inefficient, and will waste valuable time for both your marketing and sales team. Using marketing automation software which enables you to determine the criteria of your lead scoring, and help you do the lead scoring. Also, do remember that a lead’s individual score may vary over time as their activities can change from day to day.
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