How to Implement an Effective Lead Scoring System? – Part II
2 September 2013 Leave a comment
In Part II of my post on implementing an effective Lead Scoring system, you will learn a few more tips to help you to score the leads in your database and prioritize your efforts to convert those leads into paying customers.
3 Criteria for implicit scoring
- Does he react to your emails?
- Does he download your documents?
- Does he take part in your webinars?
- Does he visit your website on a regular basis?
You then assess and rank the various activities and content interactions by giving points. As an example you can give 5 points for visiting your website, 15 points for downloading a document and even 30 points for watching a video. In addition, you can rank the CEO of a company with an “A”, the department manager with a “B”, and so on. The explicit ranking of course depends on your ideal audience or persona.
If you combine these two dimensions, you get a lead score indicating both qualification level and interest level, which exactly indicates in what phase of purchase decision a lead finds itself. As an example, a D100 lead shows a lot of interest, but is not suitable due to its lower profile information. A lead ranked as B5 however, would, based on his profile, certainly fit to your ideal customer profile, but is nevertheless not interesting because he doesn’t seem to have interest in your offer.
After defining all processes and rules for implicit and explicit scoring, it is now important to decide together which leads at what stage of the buying process are managed by what team.
Because the combination of both systems is a prerequisite for a well-functioning Lead Scoring system. It’s the only way to make sure that sales and marketing are working with the same information. The Marketing Automation platform “speaks” permanently to the CRM system and synchronizes all relevant information, especially the scoring values and of course the activities of the leads that were recorded.
Other things to consider:
- Implementation of a Lead Scoring process will not immediately show its effects. Only after a few months you will get measurable results. Because it takes time until a significant number of leads have gotten a score
- Lead Scoring is not like “Set it, and forget it.” You need to check or adjust your defined criteria and procedures regularly. Are the qualification criteria still relevant? Is your target audience still the same?
- Marketing Automation doesn’t only allow you to assess your leads, but also to measure success or actual status. How many A, B, C, or D leads do you have in your database? How effective is your scoring? This information is the basis for a reporting system that documents the effectiveness of your marketing activities.
Marketers see the benefits of developing and implementing a Lead Scoring system. You simply can’t afford to give each lead the same time and attention. Effective Lead Scoring includes ensuring Marketing and Sales coöperation, defining criteria for explicit and implicit scoring and connecting your Marketing Automation and CRM systems.
What about you?
What is your experience with Lead Scoring and what would you like to share on the topic? I would also appreciate your comments, ratings or shares.
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.