How to Use Lead Scoring to Increase Sales
In a competitive business environment, generating quality leads and managing demand generation campaigns can be complex and demanding. With a good lead scoring strategy, marketing and sales teams can synchronize and optimize the lead management process. Lead Scoring is the process of assigning a quantitative qualification to prospects on the basis of their behavior and potential of making a purchase in a given time. It is basically the process of separating qualified, sales ready leads in an automated fashion into two parts – their behavior and their demographics.
According to analysts, a small increase in lead quality can result in a huge increase in sales productivity. With effective lead scoring, sales reps can concentrate on the high-quality leads and not waste time on leads that are not ready. Therefore better lead scoring will result in higher close rate which means an increase in sales.
When setting up a lead process it is important to keep it simple, by asking for a name, company, email address, and phone number. Asking for too much detail on first contact usually results in lower form completion rates. Alternatively, it is a better idea to use the additional prospect touches to obtain more information. The value of the lead can be ascertained on the information that is available on the leads. Categorize your lead data into two categories, viz implicit and explicit data. Explicit data is that which is volunteered when a visitor fills out a web form and interacts with your sales or marketing teams. Implicit data is gathered based on the visitor’s interactions on your website. You can have a comprehensive view of the lead’s interest depending on how you evaluate leads based on both the types of data.
Depending on your industry, look for the ideal profiles when targeting prospects. As the nature of business is always changing, a lead that doesn’t qualify today based on a low score can get hot tomorrow. With lead nurturing best practices, these leads can be nurtured for the future. Updating your fields with details about reason for the lead not being qualified is imperative. Follow up with targeted marketing efforts, depending on why the lead was disqualified.
On the basis of the lead score, the sales team has an indication of the prospect’s interest. Lead scoring benefits your sales department and also shows your marketing department where prospects come from and how they interact within your site. Your sales can reach great heights, with a successful lead scoring process.
Also read on - Lead generation software, Marketing automation
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