What is Lead Scoring?
Lead scoring is a methodology that ranks people based on their likeliness (or readiness) to buy from a business — based on factors like their age, location, engagement level, or specific activities.
In this post, we go over how lead scoring works, the different lead scoring models, how to do lead scoring, and the benefits.
How Does Lead Scoring Work?
Marketing or sales teams start by deciding what can be classed as a qualified lead. They then collect information, such as:
- The pages a lead visits on the company’s website
- How long they’re on the pages
- Whether they’ve interacted with any forms
The company then decides on a point value for each action the lead takes that signals whether they’re interested in the business’s offering to get an overview of the leads most likely to convert into customers.
This information is then fed into pre-decided filters in CRM software which then automates the process of scoring leads, saving businesses valuable resources.
The variables involved in lead scoring can vary depending on the businesses’ preferences — they can be ranked using an A to F grading scale or a 1-100 point system, for example.
The 3 Lead Scoring Models
Let’s now discuss lead scoring models in detail:
How to Score Leads
Salesforce - Best for AI CRM Automation
- Forecast management
- Email marketing automation
- Einstein AI
Here’s a breakdown of the steps involved in scoring leads:
The Benefits of Lead Scoring
Lead scoring helps businesses pinpoint qualified leads that require attention. It has a positive impact on businesses, resulting in boosted efficiency and better resource management.
Here are some of the main benefits of lead scoring:
Knowing which leads to prioritize effectively boosts sales efficiency, as resources go toward leads that are more likely to take action. Spending time aimlessly nurturing cold leads is a huge waste of resources — which is why lead scoring is so vital.
Focusing efforts on hot leads ready to take action (or those who are close but need a bit more nudging) increases your chances of closing more deals quicker — ultimately boosting conversion rates.
Lead scoring ensures the alignment of an organization’s sales and marketing efforts, ensuring all departments are aligned on the leads that should take top priority.
Lead scoring is an important methodology for businesses looking to boost their customer support, sales, revenue, and overall growth.
By assigning points to leads based on their interest level, businesses can effectively tell which leads are hot or cold to better manage their resources — for this, a CRM system is key, as this is often done automatically based on the actions leads take.
What is lead scoring useful for?
What should be included in lead scoring?
- Customer Pain Points and Personas (The Persona Blog)