How to Implement an Effective Lead Scoring System? – Part I
29 August 2013 Leave a comment
My previous post was about the value added by IT to Marketing. In this post it’s about alignment and coöperation between Marketing and Sales. And the systems they share, such as a lead scoring system. How are decisions made in your company? Which lead can you forward to Sales? And at what stage of the buying decision?
Introduction to Lead Scoring
Of course, you can evaluate your prospects manually, which may even be useful with small numbers. But if your database has several thousands of contacts and leads, and you add new addresses on a weekly base, then it makes sense to automate this process according to predefined criteria. This improves your sales efficiency, especially because as such, the team only has to worry about those sales opportunities that have real potential. Marketing and Sales, however, have to define common rules and procedures because qualification and evaluation criteria vary from company to company and must be determined individually.
The most common two-dimensional lead scoring model maps both a leads’ s profile information (explicit scoring), and his interest (implicit scoring).
A lead scoring system is also a prerequisite for good lead nurturing, because you base the individual prospective approach on the scoring values, which leads to assign the different stages in the buying process.
When does it become necessary?
Six points that indicate that you should consider a lead scoring system:
- You have many questions in your system and you don’t know how to rank them
- Your sales processes are very complex, so you want to reduce the workload and increase efficiency
- You have a CRM system in use
- You have a Marketing Automation system in use
- Sales and Marketing are willing to coöperate
- You can count with experienced implementation support
If most of this applies to you, or you plan to implement lead scoring, here are the four most important rules.
1 You must define coöperation between Marketing and Sales
- What is your ideal customer profile?
- What is your target group?
- What are the personas you turn to?
- What content matches with what interests?
- What content brings a lead which points?
- What profile information is most relevant to your business?
2 Criteria for explicit scoring
- Is a lead a manager and decision maker, a head of department or an employee?
- Which industry sector does his company belong to?
- What’s the size of the company?
- What is the expected revenue potential?
- And so on
Rate the answers to these questions and weigh with capital letters. “A” for a lot of potential, “C” for a lower potential.
To be continued
So far part I of ‘How to implement an effective lead scoring system?’. I will publish part II in a couple of days, so stay tuned. What is your experience with Sales working together with Marketing? Please comment, rate, share or reblog this post.
Errol van Engelen is owner/director at Bizzmaxx, a marketing service provider specialized in improving your sales funnel through Digital Marketing, Lead Generation, Marketing Automation and Marketing & Sales Alignment.