vickioneill

From this episode:

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What is Lead Scoring? There are two definitions: the technical and the simple. 

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The Technical:

Lead scoring is the process of assigning a point value to each lead that you generate based on different criteria that's important to your particular business. The goal of lead scoring is to organize, categorize and prioritize leads based on where they are in the buying cycle then forward to the appropriate person to handle accordingly. Lead scoring can be very simple or very complex depending on how your business is setup or structured. 

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The Simple:

In its simplest form:  lead scoring is a way to prioritize incoming leads based on a lead's interest in your brand using simple math to score it and hand it off. Ta da!

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I share a comparison in this episode:  lead scoring to managing  your email. 

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Two lead scoring models:

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1. Email Engagement

   • Consider all the email opt-ins, the piece​ of content that generated the opt-in and how far each lead is in the buying process. 

   • Score each criteria differently depending on the value and importance you deem necessary for your particular business

   • Keep it simple initially - especially if this is new or you have only one Persona
      

2. Company Information

   • Consider your opt-in forms and the fields requested or required on each - are you gathering the best information on each lead and with each option?​

   • With each landing page form or opt-in form, consider how you will use that lead information after the person submits the form and determine what fields are absolutely necessary to include to nurture and evolve that prospect through to a valued customer

   • An example is to add company size, revenue and industry 

   • Assign negative scores to weed out leads you determine don't fit your persona or business model

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3 take aways from this episode:

1. Marketing and Sales MUST work together on scoring leads​ IF the process is to be successful

   • Combine the data and analytics of Marketing with ​the conversations and conversations of Sales

   • Define what success is; know what the lead conversion rate is today vs after the new method

2. Determine the level of importance of all your opt-ins and assign a lead score accordingly

   • Score a demo higher than an email subscription​

   • Agree on what's important upfront so the score can do the lead qualification process automatically for you

3. Define the lead scoring process  

   • Keep it simple whether you're just starting this process and have only been in business for a year or you have thousands of customers and opt-ins

   • Identify the hand-off point and continue to monitor until the lead quality, lead conversion or goal rate is achieved so you know it's working as both teams intended. 
     
      

Final thought:

Lead scoring can feel grueling and difficult but that's only when there isn't collaboration and a strategy for how you will achieve the best lead scoring model for your business.

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Know your audience, your opt-ins and what's working vs not working so you can create a best-in-class lead scoring model that in the end will do a lot of the work for you - you just have to put in some time upfront as a team to make it work in your favor. 

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If you have questions, send me a message or click the LIVE chat button and let's get you moving in the direction that you want to go.