How to Create Effective Lead Scoring Criteria

How to Create Effective Lead Scoring CriteriaThe effectiveness of the entire marketing automation process relies on the ability to score and qualify leads based on their likelihood of conversion. The criteria developed to rank these leads must capture the demographic and behavioral characteristics of an ideal lead. Once a profile for an ideal lead is created, all leads are ranked based on how well they match the established profile, giving sales the ability to prioritize and personalize their efforts based on the unique potential for conversion of each specific lead.

These are the fundamental steps to create effective lead scoring criteria:

Step #1

Start by determining the criteria that will represent an ideal lead. Gather information from existing customer profiles and recent conversions. Look for indicates or triggers that nudged recent leads into sales.

Step #2

The next step is to define what constitutes a sales-ready lead. Often prospects will download a specific white paper, watch an instructional video, or click on relevant article prior to revisiting the site and committing to a sale. These triggers need to be identified and scored based on the likelihood of conversion. A company should be able to determine how likely they are to purchase, based on the frequency in which they visit the site and their number of clicks in a short period of time.

Step #3

Take the information gathered in step one and two, and create a list of scoring attributes using their demographics, purchasing history, and current interest in relevant products or services. This list of criteria should include the leads contact information, as well as their job title, company name, and location. It should also cover whether or not they have downloaded information from the site and the frequency of activity on the site. This should also include the source of the lead (Company website, Facebook, trade show etc.) and their engagement level.

Step #4

Divide the list of attributes into two groups: demographics and behavioral. Demographics should make up slightly more than the majority of the list.

Step #5

Rate each scoring attribute based on its relevancy and on the likelihood that the characteristic or behavior would result in a sale. For example, a customer who has attended trade show events or downloaded certain tutorials may be more likely to purchase and therefore should be ranked higher.

Step #6

Test the criteria by scoring existing customers or recent conversions. If your existing customers earn a high score, then it is a good chance others who receive the same score will have a greater potential for conversion.

Every company’s criteria will be ranked differently. The key is to review your existing customer profiles, develop lead scoring criteria that matches their buying process and demographics, rank each attribute based on relevancy or importance, and then test it to make sure it matches your ideal lead. If the criteria created through this process are accurate, then it will be a powerful tool to analysis and prioritize the leads that are being generated through various marketing efforts and social platforms.