Qualifying Leads with Scores Today B2B organizations are opting for marketing automation tools to ensure that their business processes are streamlined. A decade ago, manually preparation of leads list and sharing of leads between sales and marketing departments was a cumbersome process. The effort that went into procuring the leads list along with titles and organization name was time consuming and it only resulted in teams blaming one another for unclenched sales deals. This created a problem, as many important leads were missed out being followed up on, not knowing which lead is interested in the product or who the target buyers were.
The advantage of using B2B marketing automation platform is that it provides integrated sales and marketing automation solutions. New-age marketing automation solutions help to track the website visitor’s behavior and web activity using which one can determine if they are interested in the company’s offerings. This advanced intelligence to deduce visitor intent is largely useful to qualify leads as sales-ready.
When frequency and time of website activity of a specific visitor increases he may be considered for nurturing. Now, in order to determine this, B2B companies need to perform lead scoring that will qualify prospects based on lead profiles that interest them. So, lead scoring can be defined as a method of quantifying the value of a sales lead by categorizing based on pre-defined attributes and includes the process of defining the attributes process that helps businesses target the right prospect. Quantifying is based on prospect’s profile, behavior, demographic and likelihood to buy.
Key benefits of Lead Scoring ·
Enables sales teams to manage their pipeline by optimizing their sales resource allocation.
Marketing can differentiate between leads that are sales ready and those that are not.
Build a scoring model to rank prospects, as well as segment them based on the most appropriate messages
or follow-up communication channels. ·
Reduction of lead generation cost, acquisition cost and sales conversion cost.
How to Perform Lead Scoring It is an iterative process that requires inputs from the sales team, insight from the existing data and experimentation (AB testing) from Marketers.
1. Get together with sales team to gather data that indicates buyers’ interest or sales-readiness. 2. Determine the lead profile - Perform demographic and behavioral scoring, to create the target buyer profile. Include explicit and implicit attributes and assign points based on their relevance.
3. Bridge sales and marketing objectives - Sales team need to review and approve this lead profile information after which it can be used to identify warm leads.
Lead scoring data over a period of time when combined with a company level view, becomes a powerful tool in qualifying leads. It makes sales more efficient by helping them focus on the hottest leads first and offer them a relevant solution in real time. It also helps create the best customer experience while improving efficiency and effectiveness of the B2B marketing campaigns.
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Published on Nov 29, 2011
Today B2B organizations are opting for marketing automation tools to ensure that their business processes are streamlined. A decade ago, man...