Lead Scoring: How It Can Help You Segment Your Leads
Every business owner has dreamed of growing their business, and one way to grow your business is to increase your leads. This is why a lot of business owners spend a lot of time, money and effort to create a great email marketing campaign with hopes of converting their leads into a customer. However, not all of the leads they have captured wants to avail the product and services you’re offering. So, how do you know whether the lead is ready for your pitching? This is where lead scoring comes in.
What Is Lead Scoring?
Lead scoring is the process of prioritizing and ranking your leads according to their interest with your products and services. This works by assigning respective points on each of the leads’ interaction with your brand. If your lead opens the email you have recently sent, this means that they’re interested with your offer.
Lead scoring is an excellent way to determine which leads are interested with your offer from those that are not really interested in making their purchase. Preventing you from investing time on the leads that won’t be making their purchase; after all, the end goal is for your customer to purchase your products and services.
Although it may sound quite time-consuming, lead scoring can be automated so you can view the results right away. Marketing Automation and CRM Software such as Infusionsoft by Keap offers an automated Lead Scoring. The results will then be shown to you through a hotness meter. A hot lead will have five flame icons, while an ice cold lead will get only one flame icon.
Why You Shouldn’t Ignore It
A lot has changed with business and marketing over the years. Years ago, people would have to drive to the store to buy something, but now, with online shops popping all over the internet like mushrooms, the products will be delivered to them right at their doorstep. This has changed the buying process. People today no longer need to ask for a sales representative to get information about the product because they have done their own research. People now have more control over the products they’re about to purchase.
What does this have to do with lead scoring?
Because people now have full control over their purchase, making a purchase has become a lot easier— and so is turning away from making a purchase. Through lead scoring, the process of identifying which leads are interested in your products and services has become painless.
Here are 3 Lead Scoring Tips for Beginners from Experts:
Observe Their Behaviour
Probably the most popular tip within the list, observing the lead’s behaviour is one of the best ways to determine whether your lead takes an interest with your brand. Aside from that, it is also an gives you an idea with which topics grabs the attention of your lead. Knowing which topics get your lead’s interest means that you will know which of your products and services fits them the most.
Think of it as taking hints via body whenever you’re talking with someone. You observe their stance, their way of talking as well as their voice, to guarantee that the conversation will be smooth and pleasant. However, this time, you’re observing their behaviour towards your website which includes:
- Their downloads
- The blogs and articles that they read
- The topics of the email they open
- How long they stay on your site per sessions
- Their activity on social media
- The links they clicked
If you’re new and still have no idea what BANT is, it is a lead scoring tactic that’s used by a lot of business owners around the world. It stands for:
B – Budget
How much your lead and the potential customer is willing to spend for your brand. It’s important that you have a clear view of how much your lead is willing to spend on this particular product or solution.
A – Authority
How much authority does your lead hold when it comes to making a decision. Are they the decision maker? Do they have influence do they have, when it comes to decision making?
N – Need
A lot of people are subscribing and are downloading your ebook because it’s free. It may be because they’re doing their research and they found your ebook a useful resource. In this case, the lead will not buy anything from you.
T – Timeline
Try to make an educated guess on whether or not your lead is ready to make a purchase through their timeline and interaction with your brand.
However, no matter how popular it is, when using this scoring method, you have to make sure that you do this a discreet and as indirect as possible, or you may come off as rude to your lead. Asking how much is your lead’s budget on the first few emails, immediately drops your lead’s interest to your brand. Your lead will think that you’re only after their money and not on giving them the solution that they want.
Create a Follow-Up Plan
After scoring your leads, you may have already segmented the cold leads from the hot ones. The best thing to do next is to go on with your plan. Remember, your leads may be hot, but they won’t be if you don’t guide them through the journey accordingly. The same goes with your cold leads, if you don’t have a re-engagement plan, these leads will be going to waste.
Remember, not all cold leads are uninterested with your brand, these people we’re one’s hot leads there weren’t well nurtured. All you need to do is to give these leads a little bit of nudging in order for them to become a hot lead.
Remember, lead scoring is just a tool that you can use to help you in your marketing strategy. It only gives you an insight on whether or not your lead is ready for some pitching or still needs some encouragement before making a purchase.