What is lead scoring and how to measure it with real data?
What is lead scoring and how to measure it with real data? Understanding how must interest your brand generates is vital to know if your efforts are worth it. That’s why today we will talk about a very important topic for all companies with an online presence: Lead Scoring. Here, we’ll teach you what it is, its advantages, how to apply it, and the best tips to do it successfully.
What is lead scoring?
Before anything, you must understand what lead scoring is. So, a lead is a user who has the first interaction with your company through your online portal. Once there, they have downloaded some material, image or PDF, wrote through the chatbot, etc. The moment this happens, we move on to the score.
Lead scoring is nothing more than the tactic or way in which you can study the score or grade that users have. This, besides knowing their level of probability regarding them buying something or not. For this, you must take into account the intensity and quality of the exchange of interactions between your company and customers.
Thanks to lead scoring, you can also start working on other fundamental marketing aspects. For example, lead nurturing. The latter is what will allow you to launch marketing campaigns that match your clients’ level of interactions. This will also help you win more clients and improve their interactions with the company.
The 6 benefits of lead scoring
Since we know a little more about what lead scoring really means, we want to share some of the most outstanding benefits for all those companies that implement it as a fundamental part of their marketing strategies:
- Thanks to lead scoring you can measure the temperature of leads. This will allow you to know if it is a passive, medium, or active customer (also known as a cold, warm and hot lead).
- You can increase the efficiency of your marketing team both in more strategic actions and in the area of the sales team through having better opportunities.
- You will have a better-established lead segmentation.
- Helps improve conversion rates.
- You will be able to customize the type of actions according to how your customers make their purchase journey.
- Increase efficiency and personalization in email marketing campaigns.
How to do lead scoring?
In marketing strategies, there is no secret formula and or magic technique to achieve any marketing objective. However, below, we will walk you through some of the tips that work best when conducting lead scoring for your company. These tips are made for a B2C business or company to consumer, but they are not limiting for any other type of company, since they can be easily adapted to what we need.
Create your Buyer Persona
Your first step must be to define who your brand’s ideal customer is and create their profile. The buyer persona is that fictitious user or not that you describe in a worksheet. To define it, you must figure out their taste, strengths, weaknesses, and their physical and personal characteristics. This way, you will have a clear image of whom you want to attract to your website.
By knowing the needs of your leads, you can easily understand how they act and how they interact with your page.
You must work on the personalization aspects and adapt all your website’s elements to your client’s requirements. Otherwise, your business won’t be able to stand out and will just become yet another company.
Choose the variables to score
You must select those variables that will help you to identify yourself among your consumers.
An easy way to do this is by working on an SEO or search engine optimization strategy to discover what your keywords are and thus position yourself in the market and on the web with those words.
Calculate the average conversion rate
One of the most recommended tips is to have at hand the calculation of the conversion of all your leads to customers.
To obtain this calculation, we have a formula that will be ideal to help you have this calculation.
The first step is to obtain the number of actual sales of your business and divide it by the number of leads for all your page’s segments.
That is, if your company made 10 sales in the month and you had 20 leads, that means that your conversion rate is 50%.
Assign the score for your leads
On the other hand, you can also start to compare your variable’s data and assign a score to them.
For example, if you got a conversion rate of 10%, this can be 1 point. Then, for a conversion rate of 20%, you can double the points, giving a total of 2 points.
Some marketing teams use school grades from A to D as scores. However, others also use scores ranging from 1 to 10 or 1 to 100. The type of score you use will differ depending on the business you have. The number of visitors, clients, among other factors.
You must remember that each lead, segment, and consumer profile must be seen differently. Because of this, you must handle them differently. Each one is important in its own way and will allow you to understand your client’s behavior. In the same way, you will also understand the sales work and your marketing and web development team’s efforts.
Determine actions for each group of leads
With lead scoring strategies, you can work on adding by groups some actions that you carry out according to your client. This means that by placing clients into categories, you can create content campaigns for their benefit. After all, you will improve their knowledge of the products, entertainment related to the brand, or commercial information.
Lead nurturing is this strategy that allows us to feed information to our leads according to the type of client they are. Lead scoring is a wonderful technique to be able to manage and improve the database of all your clients. Besides, knowing the information about your customers will help in the future all those members of your marketing team who need support in terms of strategy work and creating campaigns based on consumer behavior.
You must use a tool that allows you to have all the data, analysis, and calculations you need in one place.
That’s why you must have an efficient CRM to be able to automate all your analysis processes. This way, you will have more precise data and a good calculation regarding the work leads.
Besides, with a CRM, you will reduce the working time of your marketing and sales team. As a result, this will improve your productivity.
BluCactus, your ally in Digital marketing
BluCactus international marketing agency serves clients all over the world. Our specialty? The creation of web designs and SEO positioning in online searches. Our group of experts focuses on helping businesses and brands succeed in one of the most competitive sectors in the market, the digital world.
BluCactus will accompany you in every step that your brand takes. This goes from the creation of the branding of your business to the creation of content. Our focus is on supporting you with the development of your website or the administration of your accounts on social media.
This online marketing agency, based in Toronto, ON, seeks to strengthen your image as a brand and take it to the next level. Don’t wait any longer to have the help of the best specialists in digital marketing and contact us through our social media or website.
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