How Lead Scoring Makes Lead Nurturing A Lot Easier
Determining what your lead wants, moreover, guess if they’re ready for your sales pitch is not easy. Especially because you are dealing with different people with a varied level of interests. Your goal is to make these people buy from your brand and turn these strangers into customers. This is where lead nurturing comes in.
Lead nurturing is the process of guiding your lead down the buyer’s journey and turning them into a customer in the process. Since lead nurturing is a tricky process which involves determining which leads are ready for nurturing, and which ones are just there for your hook. One way to ease up your load is through scoring your leads.
Getting Started with Lead Scoring
What is it?
Lead Scoring is the process of assigning points to a lead and ranking them according to their interaction with your business. The more engagement your lead has, the higher their score is going to be.
The main purpose of scoring your lead is to help you determine which leads are interested in your products and are willing to pay for it.
Why Bother Scoring Your Leads?
Business owners like you, already have a lot of tasks that they should be doing, so why bother scoring leads? Remember, you and your lead are basically strangers at this point. During this stage, you and your lead only know basic information about each other. This means that you still have no idea whether your lead is on your contact list because they want to know more about your products and services, or they’re just there for your lead magnet and the freebies you will give them.
Through scoring your lead, you will be able to determine which leads are worth investing from those that are cold and are not engaging with the emails you’re sending. Through lead scoring, managing and monitoring your leads will be easier.
Is it Time-Consuming and Exhausting?
Scoring Leads can be time-consuming. Say, you have a minimum of 150 leads and you want to score each of them. That means you’d have to go through each of their interactions with your business and score them— sounds easy but can take up a lot of your time.
Does it mean that you shouldn’t score your leads? NO.
Fortunately, Marketing Automation and CRM Software in Singapore has an automated lead scoring system. It allows you to score your leads automatically. Infusionsoft by Keap is one of this software that has an automated lead scoring feature. Infusionsoft by Keap shows the score of the lead through its heat meter.
Here are 4 Lead Scoring Best Practices for Lead Nurturing
Define a Score Threshold
Before you complete your lead scoring model, you should already have your scoring threshold ready. Your lead scoring threshold is the defining factor which the system uses in order for it to declare whether the lead is already hot and is already sales-ready. While it’s easy for you to set the threshold on your marketing automation system, how you allot the points for each interaction is tricky because you don’t want the scoring to be a waste.
This is why you have to ensure that the points you assigned for interaction is decided with a logical explanation. You have to make sure that the interaction your lead had with your brand, indicates that they are interested in your brand. Remember, your goal is to nurture leads and you have to make sure that you nurture the quality leads, with a higher chance of becoming a customer.
Apply Score Reduction
It’s easy to accumulate a good amount of points enough for the system to declare that the lead is hot and is ready for your pitching; even if they’re still far from being one. Remember, the system is programmed to assign points whenever your lead interacts with the email you send, which means it’s only a matter of time until your lead accumulates enough points for the system to consider the lead a hot one. Making your lead scoring strategy a total waste.
To prevent the scores from blowing up, you should apply score degradation where you take off points from your lead’s accumulated points. By putting up a score reduction system, you can filter out the leads that are interested with your brand better from those that are not.
Create A Different Lead Scoring Models
Your leads love personalised contents because it gives an impression to your leads that you’re taking their interests into consideration. Now, if your brand offers a variety of products which is targeted to different types of people, then it’s ideal for you to create a different lead scoring model for each of the products you’re offering. Remember, your leads are different people with different levels of interest.
Using your lead scoring models, you can personalise your lead’s experience with your brand. Leads that are least engaged can be grouped together, and have them go through a separate campaign that could get them to engage. By grouping leads with the same scores, you can give them the personalised content they want, build a better relationship with them and gain their trust.
Remove Unresponsive Leads
Your goal for the scoring your leads is to determine which ones are worth giving a shot, which leads are willing to go through lead nurturing. Now, if you find dead leads who won’t respond and interact with the emails you sent them, your first move should be to filter them out of your current campaign. Then, transfer these leads into a retargeting campaign. However, if the leads still don’t respond, then remove them from your lists. You don’t want your email reputation to be affected because some of your leads are dead.
Through lead scoring, it determining the cold and unresponsive leads from the hot ones becomes a lot easier. Especially because you can literally see them within your marketing automation software.
Growing your business involves more than just making sure you’re pleasing your current customers. It means you’d have to reach out for those people who still have no idea that you exist, and turning them into customers. Through attracting your leads, scoring, nurturing and turning them into your customers, you will be able to grow your business.