You’re Getting Leads, Now Score Them

If you’re inbound marketing is working then you’re likely generating more leads than your sales staff can support. At this point, it might be time to consider separating the leads that are of high quality from the low quality. An easy way to accomplish this is using your inbound marketing system to score them based on implicit and explicit factors.  Implicit factors indicate the level of interest by the lead and their engagement with your website and content. Explicit factors indicate the demographics of the lead and their propensity to purchase.

Implicit Lead Score Factors:

  • website visit
    • specific page views
    • time spent on site
    • referral keywords
    • referral domains
  • landing page submission
    • whitepaper download
    • demo requests
    • free trial initiations
  • email engagement
    • open rate
    • click rate
  • social media engagement
    • comments
    • mentions
    • retweets
    • likes

Explicit Lead Score Factors:

  • company name
  • title
  • annual revenue
  • employee count
  • industry information
  • location
  • decision maker?

Lead scoring is an important component to marketing automation, which  allows you to quickly determine the leads that  are most urgent. It is especially useful to compare the success of different marketing tactics and determine if your inbound marketing is working. Some lead generation tactics may drive the highest volume of leads but if you’re allocating your dollars intelligently, you also need to know their level of quality. A low volume, less expensive marketing tactic, that drives the highest quality leads may be your low-hanging fruit you’re looking for.

Lead Scoring Example

Qualified leads are leads that have actually taken an active interest in a product or service. A lead that is not qualified may not be an appropriate fit for the product and may not be a valuable use of a company’s time. However, it can be very difficult for a company to determine their lead scoring on their own.

Below is an example lead score looking for directors at banks above $500,000 in revenue in the city of Chicago that have visited the website and show a high level of engagement.

Lead scoring software is the easiest way that a company can monitor and manage their leads, as well as determine how interested their leads actually are in their product. Lead scoring identifies the fit of a lead, which is determined by how well the lead fits into the known structure of the company: whether they are in the industry and whether they are in the market for the product or a similar product. It also measures the level of interest or engagement the lead has shown in the product, which can help a company determine which leads should be approached by their sales team and which leads are not likely to yield anything lucrative. Lead scoring can include metrics such as whether a lead contacted customer service or the sales division with questions about the product, how often the lead visited the website, how long they stayed on the website and how many pages of the website they actually viewed.

It’s very important to appropriately score leads to increase the overall efficiency of a company’s sales department. Otherwise, a sales team may inadvertently waste time chasing leads that have low levels of interest while highly engaged clients are pursued by competitors. In addition to this, lead scoring is an adaptive technique that can change over time based on further interactions, so the lead scores of different leads can change to better represent their true quantifiable value. Lead scoring can involve such factors as the amount of times a lead visited a website, or the amount of times they added a product into their cart without actually purchasing it. In many such cases, the lead only needs a gentle push to actually purchase the product.

Having a lead scoring system is a vital part of inbound marketing. It is one of the many techniques that are very difficult to implement without a reliable marketing software system. A lead scoring system is absolutely essential for the efficiency and productivity of a sales team, and it can also help companies manage their leads in a comprehensive and easily understood fashion.