When launching Paid Media campaigns, the initial concern is often “Will we be able to attract new leads to our sales funnels?”. This logical question mutates shortly after the digital marketing machinery starts working.Who among these new leads is interested in my product/service and who is just browsing?" becomes the central question and the lead scoring in the perfect answer.
What is lead scoring?
To understand this concept, let's imagine a deck of cards where each potential client is a card. As with any deck of cards, some cards have higher scores than others, and whoever gets the highest numbers wins. The system of lead scoring It allows the highest-scoring leads to be placed on the table while the others are returned to the deck. The objective of this system is to win the game.
He lead scoring, therefore, is a methodology that allows you to analyze a potential lead's level of interest and purchase probability based on a specific score. This score is obtained by measuring the intensity and quality of the potential customer's interactions with the business (information provided, brand engagement, etc.).
Types of Lead Scoring Models
Every business has a different model for scoring new leads. However, one of the most common practices for starting this scoring system is to look at historical data and look for patterns in the parameters of customers who have converted and compare them with those who haven't. These patterns will be indicators that a lead has a high probability of buying. For example, do they have children? Do they complete website forms? Do they open and click on email marketing campaigns? What type of website content do they engage with the most? Do they download lead magnets?
These are the 6 models of lead scoring depending on the type of data that are obtained from potential leads that interact with a business:
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Demographic Information: Thanks to the information collected in your website forms, positive points are awarded to potential leads that fit a specific set of demographic characteristics, and negative points are awarded to those who are not the product/service's target audience. If there are optional fields on the form, such as phone number or address, extra points are added.
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Corporate Information: Similar to demographic information but focused on B2B businesses, this information is collected on the web about the type, size and sector of the company and points are awarded if it meets a series of attributes.
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Online behavior: Depending on how the potential lead interacts with the website, a score will be assigned: number of pages visited, average time per page, whether they frequently visit the website, whether they have filled out any forms, etc. Similarly, if a lead has not interacted for some time, it is advisable to remove points as their interest may have waned.
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Email EngagementOpen and click rates in email marketing chains provide insight into a lead's level of purchasing interest. This allows marketing efforts to focus on the most engaged leads.
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Social Engagement: Similar to online behavior, this lead scoring model measures leads' engagement on social media: how many times they click on your posts or share your content.
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Discards Spam: You should also consider those leads who interact with your brand in a negative way, i.e., those who fill out forms with incorrect information or provide personal emails when dealing with a B2B business.
5 benefits of lead scoring
Having clarified what lead scoring is and the different models that exist, these are the main benefits of applying this powerful methodology:
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Provides data on a lead's temperature and whether they are ready to take specific actions or convert.
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Increase the efficiency of marketing and sales teams as they can focus on more strategic actions, generating better sales opportunities.
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Leads cease to be a formless mass and become segments that are classified from the least qualified to those most likely to purchase.
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The system lead scoring contributes to improving conversion rates.
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Allows you to hyper-personalize email marketing campaigns
How to find your basic lead scoring model?
We recommend starting with a simple manual calculation before evolving and automating the system.
1. Calculate the lead-to-customer conversion rate for your entire database. That is, divide the number of new customers by the number of new leads entering your database. This will be your base conversion rate.
2. Choose different parameters from the clients you thought were the most highly qualified leads, for example: they requested a demo, they were companies with 10-20 employees, they visited the services page more than 5 times, etc.
3º Calculate the conversion rate for each of the selected parameters.
4. Compare the conversion rate for each parameter with the overall rate calculated in step 1 and assign a score accordingly.
Level Up: How to Manage Your Lead Scoring Model from Your CRM
Once you have your system clear lead scoring, This entire process of analysis, calculations, weighting, and measurement can be done automatically and in real time. An efficient CRM can automate the process of assigning scores to the variables selected as important and deliver detailed reports to everyone involved in the sales process. With this valuable information, the actions developed to bring leads to the bottom of the funnel will have greater impact by focusing on a segment that shows greater interest in purchasing.
Develop a good model of lead scoring It's not something that can be achieved overnight, as it involves research and calculations. However, this methodology is a game-changer for any good digital marketing strategy. Starting by defining simple parameters and being consistent with them is the best way to test and evolve your marketing model. lead scoring.
