Learn how to prioritize prospects and close more sales with lead scoring. Discover the best practices for assigning numerical values to leads and the benefits of avoiding wasted time on weak leads.
The video discusses marketing strategies for small businesses, focusing on social media marketing, content creation, and customer engagement. It emphasizes the importance of building a strong online presence and utilizing various platforms to reach the target audience. The speaker also shares tips on creating engaging content and building relationships with customers to drive sales and loyalty.
Lead scoring is a way you can decide which leads to prioritize in your marketing and sales.
It’s like if you’re planning a wedding — you’re gonna invite your closest friends before you start
inviting acquaintances. You can prioritize your leads by assigning numerical values to
each one based on how likely they are to convert. But how exactly does that work?
Lucky for you, that’s just what we’re here to talk about. Keep watching to learn how you can use lead
scoring in your marketing and sales. How to get started with lead scoring
Lead scoring basically works like a checklist. You have a list of traits that define what a
good lead looks like for your company. The more of those traits apply to a given lead,
the higher that lead’s score will be, and the more valuable they are to your company in the long run.
Of course, which traits should be on your list? Well, that’s ultimately up to you. It
depends on what your unique customer base looks like. But the idea is for
the lead score to show the likelihood that someone will be a great customer.
So, you could base your scoring system on characteristics of your existing customers,
including demographics and specific behaviors. Let’s say your best customers are mostly people
who work at businesses with 20 to 40 employees. That means any leads that
fit that description would probably score higher than people from companies with 50+ employees.
Your score calculation could also include the way leads interact with your marketing, like how often
they visit a certain page on your website. Leads that seem more engaged would be scored higher.
You can come up with whatever model you want for lead scoring. Every business does it differently.
As long as it helps you identify the leads who are most likely to become customers,
it’s doing its job. You can also use tools to automate the lead scoring process so
you don’t have to do it all yourself! Why use lead scoring in your marketing?
You might not be sure if you need lead scoring for your company. What’s the benefit of it, anyway?
Well, picture this. You have a couple of different leads come in, and you need to pick one of them to
engage with first. So you pick one at random, and you spend forever trying to convert them.
But it turns out they were a pretty weak lead, so they never end up converting.
Meanwhile, the other lead was actually a really strong lead. They were ready to convert right then
and there. But because you took so long to engage with them, they went with a different company. So,
in the end, neither of them becomes a customer. All that could have been avoided if you’d just
known to prioritize that second lead. With lead scoring, you can identify the leads that are most
likely to convert quickly, so you can avoid wasting time chasing after people who aren’t
a good fit for your business. 4 lead scoring best practices
Now that we’ve explained the basics of lead scoring, let’s talk about some specific ways
you can use it in your marketing. Here are four lead scoring best practices.
1. Segment your audience One of the first things
to consider doing is segmenting your audience. There’s a good chance your business sells more
than one product or service, and your audience may have a variety of needs and interests.
If that’s the case, you don’t want to use the exact same lead scoring model for all of them.
It’s already a good idea to segment your audience so you can personalize
your marketing to each one. But segmentation also helps you create different lead scoring
models for each group of leads. Different groups will have different characteristics,
so it’s helpful to score them differently. Of course, if you only sell to one group
of people, you don’t necessarily need to do this. But most businesses have
at least a few different audiences. 2. Get input from your sales team
Even if your marketing team is the one working on your lead scoring, you’ll want to include
your sales team in the process. After all, no one knows your customers better than your sales reps.
They can help you figure out what sorts of people are the easiest to convert, plus what those people
like best about your products or services. Not only can you use that info to improve
your marketing, but you can also use it to help you create a lead scoring model.
For example, maybe your sales team points to a particular page on your website that they say is
really good at converting leads. In that case, you could prioritize leads who have viewed that page.
You can also connect data from your sales tools to your lead scoring tools
so that each sale you drive helps improve your lead scoring data,
letting you drive even more sales later on. That approach is called closed-loop marketing.
3. Use negative lead scoring A lot of the points you give out during
your lead scoring will be based on the way people interact with your website and online marketing.
If someone visits a particular product page, for example, you might assign them
some points for that. But be careful, because your leads aren’t the only people on your site.
Keep in mind that your employees, particularly your marketing team,
will be constantly interacting with your website and marketing materials as well.
So, of course, you don’t want to include them in your lead scoring models. The same
goes for spam traffic, and even people who just don’t live in the area you service.
The best way to manage this is to use negative lead scoring. You can assign
negative scores that ensure you don’t factor them into your sales or marketing process.
4. Get feedback from your customers Finally, you can learn how to score your
leads by just asking your existing customers. Your customers have already gone through the
whole sales process, so they can give you the best insights into why they converted
and what helped get them there the fastest. By interviewing customers or sending out surveys,
you can learn a lot about the type of characteristics and behaviors that make
someone most likely to convert. Then you can apply that to your lead scoring model
by assigning points based on common traits you discover among your best customers.
Now that you know how to score your leads, you can go develop a lead scoring model for your business.
If you want to learn more about lead nurturing, or digital marketing in general,
you can always subscribe to our YouTube channel — or to our email newsletter, Revenue Weekly.
That’s it for this video, though. Thanks so much for watching, and I’ll see ya next time!
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