Lead scoring is not new; it has just found the perfect timing. With the excitement around SaaS, inbound marketing and marketing automation, lead scoring has found a comfortable home.
Lead Scoring – What’s Involved?
Lead scoring involves assigning certain attributes to a lead. First, lead definitions need to be developed and documented. A score is given and refined over time to each attribute. All attribute scores are added per lead. Once the score is tallied it’s decided where the lead falls in the lead definition scale and the next course of action that should be taken. The definition scale might include: dead, continued nurturing, pass to sales.
The Art and Science of Interpreting the Lead Score
Lead scoring is a developed and managed process. And process and science go hand in hand. But is process and science all there is to lead scoring? That has not been my experience and I’m interested in hearing yours.
In so many instances I’ve seen the perfect score, yet the potential buyer never buys. What is behind that scenario? How does it happen?
Here lies the art of lead scoring. Let’s take an example to best illustrate. A company determines the following are important lead score attributes: number of employees, company size, geography, industry, contact title, whitepaper download, and email opened, and review of the pricing information on the website. The company creates and circulates lead definitions to sales and marketing and this particular lead turns an almost perfect score. According to the company’s lead definition matrix, this lead falls into a sales ready lead.
The lead is passed, but after connecting with the contact, sales discovers that this is a periodic event for this potential buyer. They have a competing product which they love and have been using for quite some time with great results. This potential buyer likes to keep abreast of competitive developments. So he looks at pricing, downloads new content and responds to your company’s email. He’s happy with his current service and sees no reason to change but likes to keep informed.
A new or inexperienced sales representative receiving this lead may think this is the lead that will convert and push him over quota, when in fact this potential buyer is a tire kicker at least for now. This potential buyer may switch and buy your product or service but it’s highly unlikely. Herein lies the art of really interpreting the lead score.
- You need to be able to engage with the potential buyer on a level that will really determine their motivation and interest.
- You need to be equipped with the right information to properly engage with and understand the potential buyer.
- You need the skill and experience to determine tire kickers from the real thing.
- You need to use the right questioning to determine the real quality and viability of the lead.
Scoring leads is no easy task and takes more than automation to properly nurture true potential buyers. What has been your experience with lead scoring?