Good news, if you’re wondering how to focus your efforts on the leads that will generate the most revenue for your business, that means there is interest in your products or services, which is (very) positive!
So how do you identify the most interesting leads for your business in order to prioritize your commercial actions? A method at the crossroads of marketing and sales responds to this challenge: putting in place a lead scoring .
Lead scoring is an approach that aims to boost your sales performance by assigning a note (or a score) to your prospects according to the criteria that you will define and their behavior towards your content. In this article, we’ll define this concept in more detail, give you the keys to deploying it in your organization, and then explain how, with LeadIn, this process is considerably simplified.
Why implement a lead scoring strategy?
Lead scoring: Definition
Lead scoring is a methodology used by sales and marketing teams to determine the value of prospects, or potential customers, by assigning a value to them based on their behavior in relation to their interest in your products or services. The “value” of each lead varies from company to company, but is generally characterized by interest in the company or its positioning within your sales funnel.
Concretely, a lead scoring strategy results in the implementation of a points-based system allowing the lead to be assigned a rating or more simply a “hot” or “cold” status depending on the history of interactions. .
A good lead scoring model can help you prioritize your prospects based on:
Business Volume – Not all of your customers will generate the same income, you need to focus your efforts on the ones that will earn you the most.
The Likelihood They Buy – A lead can have huge potential but with a very low probability of hitting, you can’t waste too much time on it.
Time to buy – Some prospects are interested but won’t be able to buy for a few months, so they will have lower priority.
The objective of your lead scoring strategy is to find a balance between these different data, each aspect must be noted and the overall score will define the effort that your sales representatives will have to deploy to close these deals.
The benefits of a solid lead scoring strategy
Standardize the way leads are evaluated
Lead assessment gives marketing and sales teams a common language for discussing the quality and quantity of leads. By scoring behaviors based on their likelihood of conversion, marketers can generate more leads by adjusting inbound strategies to target specific factors that result in high scores.
Identify and target leads that need to be nurtured
Prospects with a lower score may need additional coaching to increase their interest and engagement. You can segment your leads by score and divide them into nurturing campaigns aimed at generating leads ready to be sold.
Give voice to your “fans”
Lead scoring tools allow you to track customer engagement, allowing you to identify extremely satisfied and highly engaged fans of your business. These customers are often eager to recommend your business when the opportunity arises, and you can encourage these recommendations through automated campaigns.
Refine your marketing messages
You may find that your best prospects respond to slightly different marketing approaches. By segmenting the contacts that best match your business, you can experiment with different approaches that might not work for less interested prospects. You may be able to contact these prospects more often or be more aggressive in your calls to action.
6 steps to set up a lead scoring strategy
# 1 Define your ICP (Ideal Client Profile)
First of all, you have to establish the minimum criteria that a prospect must meet to become a customer. If a criterion is not really essential, do not indicate it here. Consider only the required qualifications. For example, your client must be 18 years of age or older. Or, he may have to live in a specific region.
If you’re struggling to identify your minimum requirements, think about the factors that prevent prospects from becoming customers. From this perspective, you should be able to determine the minimum criteria that prospects must meet to earn your attention.
# 2 target your audience
Examine the common characteristics of your target audience. If you know your current customer base well, you can probably quickly list many of these attributes. Unlike the minimum qualifications mentioned in step one, your contacts do not need to have these characteristics to be considered customers. Rather, common characteristics are traits that your typical customer possesses, and the goal is to identify prospects who most resemble your typical customer. If the leads are similar to your existing customer base, chances are they are a product match.
# 3 understand the behavior of your prospects
Behavior-based rules help identify interested and highly engaged prospects.
Start by making a list of all the behaviors that prospects can adopt. Although some behaviors are more important than others, it is useful to give all behaviors a point value (even if it is a very low value). Don’t rule out behaviors just because they don’t matter to you. Balance is crucial.
Here are some examples of actions you need to integrate:
- Opening an email
- Clicks on an email
- Email responses
- Social media sharing
- Web page visits
- Submission of a form
If you have a follow-up campaign, write down the behaviors it causes. What are the calls to action it contains? The actions the majority of your prospects take before converting are called “critical conversion behaviors.” This could be starting a free trial or requesting a sales demo.
# 4 establish a system
For many businesses, a simple rating scale of 1-100 will suffice, but other options exist. If your business deals with different types of leads, you can use the thousands number for further classification.
For example, B2B businesses can use “1” for small businesses, “2” for medium businesses, and “3” for large businesses. So a lead with a score of 2089 would be an average business with a score of 89.
Once you’ve completed the first step, you can use a lead’s score to qualify them outside of any other factor. This way, a bad lead will never reach your sales team (no matter how many behavioral rules it triggers). You can do this by assigning blocks of 100 points for specific “must-see” criteria, so that a prospect qualifies if they meet the criteria.
For example, you may need prospects located in a certain region, prospects who have a contact in a specific department, or prospects who are in a certain industry. By assigning 100 points for each of these rules, a prospect does not become ready to sell until he reaches 300 points. In this case, a prospect with 389 points will be passed on to the sales team, but not a prospect with 289 points.
# 5 Define a sales “threshold”
Sales and marketing teams need to work together again to specify a score that indicates when a prospect is ready to be sold, which means they need to be contacted by a salesperson. Remember, the buying journey: you don’t want to present too early. Your lead scoring system should reflect the lead’s progress through the sales funnel.
# 6 the final score
When setting up a lead scoring system, it is important to remember that adjustments and tune-ups will be required first. Don’t take this as a step backwards, but take the opportunity to assess the effectiveness of the system in determining high quality leads and refine it to better target this group.
Take a look at the highest scoring leads, compare their similarities and differences, and buyer’s journeys. See what worked and what didn’t and adjust the lead score threshold as needed. Once you start using the scoring system, you will be able to see what needs to be refined.
How LeadIn facilitates your lead scoring?
As you can see, implementing a lead scoring strategy is essential to ensure that you are focusing your sales efforts on the prospects that are most worthwhile. However, setting up a system that is relevant to your organization can prove to be complex, especially for small structures.
Rest assured, by using our services, coupled with the power of information available on LinkedIn, you will be able to easily identify the prospects on which to focus.
Only contact prospects who match your ICP
LinkedIn is a real gold mine of information, especially in terms of B2B prospecting. The advanced search options on LinkedIn allow us to sort prospects based on:
- The industry in which they operate
- Their geographic location
- The size of their business
- Their post
The prospecting campaign that we are going to deploy for you will therefore be pushed only to prospects who perfectly match the criteria you have defined! It is therefore impossible to waste time trying to get in touch with irrelevant prospects.
The leads you get are already “scored”
When we forward to you the prospects resulting from the campaigns carried out via your LinkedIn account, we classify them according to 4 levels according to their interest in your services:
Level 1 – Reserved:
The highest level of interest means that the prospect has booked a call with you, you just have to take control and present your services in more detail.
Level 2 – Interested:
The prospect is “hot”, he could call on your services, he must be contacted again to explain how.
Level 3 – Pre-qualified:
The lead may be interested in what you offer, you have to educate him a little by providing social proof for example in order to bring him to a call.
Level 4 – Cold:
The prospect redirects you to another interlocutor or offers to contact him again in a short time.
Go further by feeding cold prospects with content
A prospect described as “cold” doesn’t mean you have to drop it! On the contrary, you now have access to his email address and his LinkedIn profile, so it must be integrated into your lead nurturing strategy.
This strategy consists of supplying your prospects with relevant and personalized content in order to educate them on the solutions that you can bring them. You can do this using different channels such as emailing by adding the email address to the mailing list of your newsletter for example. But this is a whole different subject! We will come back to this in the future. To be informed, don’t forget to follow LeadIn on our social networks!
So, do you have a lead scoring strategy? Do you have enough repeat leads in your pipeline to see the benefits?
If you don’t have all of these must-have acquisition tools, and you want LeadIn to take care of everything for you to boost your pipeline right now, then let’s talk! You can request your free consultation at the bottom of this page at any time.