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.
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. Well, here are the 3 main benefits of incorporating lead scoring into your email marketing strategy.
The 3 Biggest Benefits of Lead Scoring
1. Helps you communicate effectively with your lead.
Have you ever walked into a store and been completely overwhelmed by a salesperson? No one wants to feel pressured into making a purchase. Here is where lead scoring comes in. Lead scoring ranks the quality of all your leads, making it easy to quickly identify which are ready to make a purchase, therefore, who are most worth pursuing.
Knowing which leads are most likely to convert doesn't mean focusing only on top predictions. Lead scoring also helps you identify who needs to be nurtured more in order to feel ready to make a purchase. By having a clear picture of who is "on the fence," you can focus your sales methods on these individuals.
2. Saves time and money.
We all understand how significant time management is in life and in sales. And, in sales, when time is wasted trying to close a lead that has little to no value, other opportunities with more potential are missed. Of course, ad sales reps don’t want that to happen. Without a system, figuring out in which order to reach out to contacts also takes up precious time.
3. Salespeople can best determine how to focus their attention.
Because lead scoring gives insight into the value of each lead, salespeople can best determine how to focus their attention. In addition to lead scoring, account insight tools can provide salespeople with all of the information they need to make informed decisions about how and when to sell. Moreover, this insight helps align the sales department and the marketing department. As a result, each department can then offer their perspectives to collaboratively create a mutually beneficial method to be integrated into workflows.
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.