Prioritization of leads takes significant time ‒ unless you have a sound lead scoring strategy in place.
Your sales team can spend countless hours sifting through names and making educated guesses at who to call. But the most successful sales teams are the ones who know how to prioritize their follow-up and make connections with your “best fit” leads.
How do you know which leads those are?
Enter: Lead Scoring
Lead scoring is a set of rules that adjusts the “score” of a contact based on any variable you choose. This score can help your marketing team move leads through the funnel and at the same time, enable your sales team to prioritize their efforts.
Some common types of variables that our clients are using in their lead scoring strategies are behavioral data, demographic information and technographic profile. Here’s a detailed breakdown of the multiple faces of lead scoring:
This is one of the more common variables used for lead scoring ‒ based on how a prospect or contact interacts with your brand. Every time anyone opens or clicks an email, they can get a point or two. If they download an asset or register for a webinar, they may get a few more points. And if they actually attend that webinar, clearly they’re more engaged with you and therefore have earned even more points. If you take this strategy one step further, heightened activity from any specific company could signify the potential for a deal.
Some common types of behavioral data used in lead scoring strategies across the board are:
- Email opens
- Email clicks
- Form fills
- Asset downloads
- Page visits
- Registers for a webinar
- Attends a webinar
Behavioral lead scoring helps your sales team prioritize their follow up so they’re always going after active and qualified leads. Using behavioral data in your lead scoring strategy can mitigate the inevitable, “I need better leads” conversation with your sales team. And as a marketer, this is a top goal of mine.
Information like location and potential deal size can also have a positive impact on a lead scoring strategy. Like behavioral data, it’s a great way to help your sales team prioritize follow-up.
If you notice that opportunities from certain countries have a higher potential to close, you can choose to classify those countries as “Tier 1 Countries”. That way, when you bring back a spreadsheet of leads from an event or hold a webinar for prospects from around the world, your sales team has a clear idea of who to follow up with first.
A few demographics that our clients are using to influence their lead scoring strategy are:
- Company size
- Job title
- Annual revenue
- Potential deal size
- Country tier
- Qualifying information
This variable is different for every company, but really becomes relevant when you’re a software company. When you analyze your closed business, look for information regarding the other systems your clients are using in their technology stack. As a marketing automation company with an open API, we pay attention to the systems our prospects are using to prioritize our lead follow-up and our overall outbound strategy. We look at technographics like:
- Email service provider
- Webinar service provider
If a prospect is using a certain CMS or CRM where we have a particularly strong integration (like WordPress, Drupal, SalesForce and Sugar CRM), we bump up their lead score accordingly.
All of these variables (and more) can be used to develop your lead scoring strategy. To ensure the best possible outcome, it’s essential for sales and marketing teams to get on the same page and work closely together on the plan. The right mix is different for every company, so it’s important to also research and understand your audience before implementing your rules and operations.
For more information on using these variables to set up practical, personalized campaigns, check out our latest eBook.