One of the biggest advantages that come from using a marketing automation system is the ability to effectively score and prioritize leads based on their likelihood of conversion. It gives marketing and sales powerful insight into a leads behavior, as well as their demographic characteristics, so they can decide the best method for converting that particular lead into a customer.
There are four simple steps to improving lead scoring:
Identifying whether a lead has an interest or a need
There is a distinct difference between an interested lead and a lead that has a need for a product or service. Both are fundamental aspects of lead scoring, however they should be scored differently. A lead that shows sincere interest by frequenting a site often is more likely to convert that someone who only has characteristics that imply they would have a need for a product or service. The individual or business that has a need for that particular purchase may not necessarily have the budget or ability to make the decision anytime in the near future.
In also works the other way. A lead could be interested, but they have no need to purchase the product. Take for example a car enthusiast. They may already own a car that they love, but they enjoy checking out new models online on a regular basis. They could have high scores for frequency, but no real desire to make a purchase. Lead scoring needs to recognize these indicators and weight them accordingly. The best way to improve lead scoring is to measure both the interest and the need demonstrated by potential leads.
Keep your criteria simple and limited to only what matters
If the method that is being used to qualify leads has too many factors, it could be reducing the number of valuable leads that are generated. Focus on characteristics and behaviors that demonstrated the greatest interest and purchasing potential. Eliminate any that are not relevant or counterproductive.
Use lead nurturing to raise the score of potential leads
Lead scoring generates a profile of every lead, which should be used to create personalize content that is directed at what each individual requires. There could be specific content developed for leads that have the highest chance of conversion and separate content for leads that are still in the initial stages of their buying process. Lead nurturing content should be geared to each lead segment to increase its value, and hopefully increase their interest.
Take lead scoring past the sales cycle and into the customer cycle
The process shouldn’t end the moment a lead becomes a customer. They still need contact and nurturing to keep them informed of everything a business has to offer. You can improve lead scoring by using it to strengthen customer relationships and continuing to nurture even once they have been converted.
Lead scoring is a powerful tool for qualifying leads, but it can be much more than that. By following these four simple steps, it can provide real insight into a lead’s behavior, generate higher quality leads, improve the chances of conversion, and strengthen relationships with leads who have already successfully been converted.