As a process, lead scoring consists of assigning certain values to your leads. Those values are based on the leads’ online behavior, engagement with your company achieved by email or text campaigns, and personal information. Lead scoring models help you automate the entire process of tracking leads from the research phase and successfully label those with sales-ready attributes. After your sales team gets the necessary information about which leads are worth the trouble – they can act on it and not waste their time with parties that aren’t really interested.
Now, if you want to gather relevant information about the leads and their journey through the funnel, you will need a lead scoring model to help you get there. This tool will ensure that your marketing and sales team work more efficiently and create strategies that are relevant for everyone out there who is interested in your products or services. So, let’s dive into the details about lead scoring models and how to make them work.
Lead Scoring Models Explained
The primary purpose of lead scoring models and the most important reason why marketers use them is to separate interested leads and prioritize sales successfully. Each product or service is meant for a different market and a different set of potential buyers.
A lead funnel for every product will help companies get to different people, and a lead scoring model will help nurture those leads and point to the ones that are worth the trouble of the sales team. Then they do their magic and spend time and resources on leads that will almost certainly make a purchase and, with that increase revenue.
Lead Scoring Models
For starters, there are five types of lead scoring models that you need to familiarize your team with. They differ based on the type of data they collect. Here are the details.
1. Demographic Information
Demographic information includes data on gender, age, country, job position – and once a lead passes through the sales funnel, the lead scoring model will subtract points from people who are into categories for which you don’t offer your product.
For instance, if you provide your products to a particular geographic location, anyone who lives at a different place, country, or city will have a negative score. The sales team won’t waste any time or resources offering anything for those leads and will be able to focus on the leads that have positive scoring properly.
2. Company Information
This is another category that can separate sales-ready leads from those that are merely researching and looking around. Data about the lead’s company size, type of the company they own or work for, and the industry can all be factors that will determine whether that lead will get a negative or positive lead score.
There are numerous lead scoring examples that will surely motivate you to try this tool yourself. Your marketing team will add value to the size and industry they think your products and services are suitable for, and the automated tool will do the rest.
3. Behavioral Information
How people behave and act on the internet can also help this system recover sales converted leads. Your team can gather this information based on forms people need to fill out or how many times they have returned to your page.
Also, if someone downloads your price list, or asks for more details. All these leads can get positive lead scoring, and the ones who never come back – well, they are simply not interested and will end up with a negative score.
4. Email Engagement Information
The marketing and sales teamwork on marketing campaigns all the time, and this goes for email campaigns as well. How people react, the response values, and if they click through the entire campaign – you are golden. This can tell a lot about how interested people genuinely are.
5. Social Engagement Information
No marketing campaign today can go without being published on social media platforms. There are many, and they reach a significant number of people that might be interested and what your company has to offer. So, if followers engage with your brand, if they like your campaigns or comment – these are the interested parties in the conversation. These parameters should give leads to high scores.