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2 minute read
Four Tips for Your Lead Scoring Model
Marketers are always looking for more intelligence they can glean from their data. With multiple campaigns in-market, their programs are attracting net-new contacts daily. But which of these new contacts are worth nurturing with the goal of passing them along to Sales for next steps?
Below are four quick bits
of advice we are sharing when it comes to building your lead score model.
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Q: What is the purpose of using advanced lead scoring techniques?
A: Advanced lead scoring techniques help in monitoring and prioritizing leads based on their level of engagement and fit with the ideal customer profile. It allows businesses to automate processes, such as changing life cycle stages, and effectively manage resources by focusing on leads that are most likely to convert into paying customers.
Q: What are the three key categories for building a lead scoring matrix?
A: The three key categories for building a lead scoring matrix are firmographic data, behavioral information, and negative attributes. Firmographic data includes demographic details of contacts or companies, behavioral information encompasses interactions and engagement levels, while negative attributes identify characteristics or behaviors that disqualify or de-prioritize leads.
Q: How can lead scoring be customized based on specific criteria?
A: Lead scoring can be customized based on specific criteria by assigning points to positive attributes, such as form submissions or email clicks, and subtracting points for negative attributes, like competitor email domains or certain job titles. These criteria can be refined further by specifying time frames, frequency of actions, and even by the type of content or pages viewed.
Avoid creating too many "what if" scenarios in your model's design. You cannot account for every possibility. Focus on the most common scenarios instead.
Q: What precautions should be taken when implementing lead scoring to avoid potential issues?
A: When implementing lead scoring, it's important to consider its impact on workflows, lists, and life cycle stages. Ensure that the scoring system aligns with the overall sales and marketing strategy and regularly review and adjust the scoring criteria as needed. Additionally, be cautious of potential pitfalls, such as over-scoring or under-scoring leads, which can lead to inefficient resource allocation and misalignment between sales and marketing efforts.
Last, be sure to create a feedback mechanism, such as a standing call, from Sales on the leads you pass to them. Their feedback will help you refine your model, making it better over time.
Have you used lead scoring in your business? What have you learned by using lead scoring? Please leave a comment below!
