Imagine you walk into a room with 20 potential customers. Some of them have just heard of you that day, while others have invested many hours into researching your offerings, reading your blogs, and exploring your website. Every person is wearing a grey shirt and the only way for you to figure out who is who is to talk to them.
Now imagine you walk into the same room, but the people who have spent time investing in who you are and what you offer are wearing green shirts. Those who are somewhat familiar are wearing yellow shirts, and those who are brand new to your business are wearing red shirts.
That’s lead scoring. By identifying customers based on certain criteria, you give yourself a step up when approaching them for the first time.
What is the purpose of lead scoring?
Lead scoring is a way to figure out who’s really interested in what you offer. The process of adding a “score” based on high-value attributes helps companies target different groups of potential customers effectively.
With effective lead scoring, you can better determine how close your prospects are to buying, reduce the amount of time that your salespeople spend talking to prospects who aren’t ready to buy, and engage with your prospects and customers in a way that leads to conversions.
What is lead scoring in email marketing?
Simply put, lead scoring is a way to sort your contacts in a manner that reflects their level of interest in your product or service. In order to score your leads, you would assign a value, or “score” to each lead based on the actions or attributes of the user.
We go over ways to score your leads in the next section.
Lead scoring in email marketing can be used to send different types of marketing messages to groups of contacts who fall into different interest categories. For example, those with a HIGH score would need to be contacted by a member of your sales team, while those with a MID or LOW may need some more warming up with educational materials.
How do you score a lead and build a lead scoring model?
There are four critical steps when scoring a lead:
- Sort your existing leads to categorize converted leads and non-converted leads
- Determine what actions or characteristics successful leads have in common
- List all the attributes you identified and assign point values
- Follow-up and gather feedback
When determining the criteria that you include in your lead scoring system, consider the following:
- Online behavior: Pages visited, number of page visits, downloaded materials, number of downloads, time since last visit
- Email engagement: open rate, click-through rate (you can also subtract points for people who unsubscribe)
- Demographic attributes: industry, job title, company size
Whatever criteria you choose to include in your lead scoring model, the prospect’s score should increase as they complete high-value actions. Some of these to include on your website are:
- Visited services and pricing page
- Registered for free trials
- Filled out contact forms
- Downloaded ebooks or lead magnets
- Subscribed to email newsletter
Is lead scoring effective?
If you’ve made it this far and you’re still asking yourself if lead scoring is effective, you might be wary of the amount of time and effort that goes into setting up a lead scoring system.
When done well, lead scoring should save you time and help you make more money. It allows your marketing team to craft their messaging to prospects at different stages. It helps your sales reps spend more time on high-value prospects. It helps your business hone in and improve its sales funnel.
Lead scoring is effective when you take time to understand your clients, properly set up your scoring system to reflect high-value behaviors, and continue to revisit and update it over time. Your business is always evolving, and your lead scoring system should be too.