Lead scoring can be a great tool to distinguish your hyper-responsive leads from your do-nothing ones. But in order for lead scoring to be effective, you must employ a great content strategy. Yes, you need to marry them. Download our >CONTENT PATHWAYS eBOOK> to see why.
But most marketers are confused over what lead scoring is, let alone how to set it up. Or worse, their current email service provider doesn’t offer the tool. In this post, we go in depth on what exactly lead scoring is and how you can easily incorporate it into your analytics using WPMktgEngine.
“If you’re not scoring, your frustrations build up.” – Wayne Rooney.
This quote may’ve come from a world-class soccer player, but this ideology transcends just sports. Lead scoring has now become the model in digital marketing for assessing a lead’s engagement level and readiness to buy. For marketers, making blind assessments of where a lead is at in the buying process only heightens the frustration and disconnect between marketing and sales – the two departments dependent on one another to sustain growth. So what the heck is it?…
Lead scoring is a method that ranks leads to define their sales-readiness. Leads are scored based on interest and behavior they’ve shown in your brand, stage in the buying process, and overall.
Now let me ask you this, “are you feeling like you’re being shut out when it comes to knowing a lead personally and when he is ready to buy? This passing of the baton shouldn’t be a blind process! Know the score and win the game.
HOLD ON…Don’t forget your Content Pathways eBook [below].
If so far you’re looking at this post like a deer in the headlights — that’s a good thing! Because it will help you understand how lead scoring impacts your bottom line and educates you on how to implement your own lead-scoring model.
Here’s how WPMktgEngine scores its leads:
- First, we look at how many “meaningful” activities have occurred that contribute to having a lead sales-ready — identify those pages/posts/downloads that were main influences in promoting engagement. [Include your About Us page views — because almost EVERYONE who becomes a customer at some point will look at that page.]
- Next, we assess where in the buying process those posts/downloads/etc., fall. [Go download our Content Pathways eBook that outlines what people are looking at during each phase of their buying process.] This granular view allows us to laser-focus our content delivery based on stages of buying cycle. An example of this would be to send a cheat sheet to a lead early on, where a more technical whitepaper would be delivered later in the process.
- Then we look at our pathway through – how are we nurturing them? When do we offer the different types of content (posts, downloads, etc)… and as we offer them, do they download/view them AND do they perform any other action after that?
- Now we look at the length of a typical lead’s buying cycle when determining the timing being sales-ready. You want to “age” your scoring. Some leads will drop off and their score should as well (that’s the recency portion of scoring). But what you want is to determine how many points a lead will acquire before they are deemed sales-ready (or have a sales conversation). This takes communication with your sales people to tweak and tune your scoring as you learn what score — so you might start out by giving MORE people to sales… then as you determine what’s too early, you update and tweak your scoring philosophy/method… make sense?
As a recommendation, start by assigning smaller point values to a lead who’s higher up in the buying process and increasing as they consume content further down the process. You do not want to give a lead, say, 5 points for opening a welcome email. This will only misrepresent the engagement level of that lead, especially if you and your sales team have determined that a score of 20 is when a lead can be handed off to the sales team.
From the example below, you can see how important lead scoring is in discovering a lead’s interest, behavior, and overall fit for your product or service.
- The first completed form [Content Pathway eBook] is what we deem an “awareness” or “discovery” stage activity. During this stage, we assign a point for each action because the lead is new to the brand and has yet to form opinions.
- As the lead becomes more engaged and further down the sales funnel into the “forming opinions” stage, we assign a higher point value for a more engaged activity such as a completed sequence [FUP-Scoop 1 – 3 pts].
- In the last stage “making decisions” just before handing the lead off to sales, a higher point value is assigned due to the lead’s activity history. He opted-in for our PLF Launch course [5 pts]. His behavior is reflective of someone who has committed themselves to better their marketing results by proactively signing up and attending a higher engagement activity.
This lead ended up with a score of 31 pts over a period of 2 months [17 points shown in activity stream exmple]. We had determined that a score of 25 or higher would trigger a notification to our sales team that this qualified lead is sales-ready By having this data, it afforded us the insight to recognize the lead’s key behaviors, so we could trigger automated, relevant content to sustain the lead’s interest and deepen their product knowledge. This solidifies us as a trusted resource to solve their marketing pain points.
Here’s a recap of how utilizing WPKktgEngine’s lead-scoring software will benefit your bottom line:
- Increased sales efficiency and effectiveness.
- Increased marketing effectiveness.
- Tighter marketing and sales alignment.
With WPMktgEngine, you’ll have the power to view your leads’ behaviors so guesswork and disconnect will no longer affect your bottom line. Start your discovery today.