What is lead scoring?
Lead scoring refers to the process of evaluating and ranking leads according to their positioning in the sales funnel and their perceived value for the company. This can be combined with other criteria specific to the needs and goals of each organization and depending on the behavior triggers set in place to inform lead scoring. The lead scoring process ultimately aids teams to direct sales and marketing efforts with greater efficiency.
What is the purpose of lead scoring?
Lead scoring aids marketing and sales teams in filtering out irrelevant prospects and focus their efforts on those more likely to convert, increasing efficiency and ROI. Insights revealed via lead scoring processes can also help to inform the accuracy of campaigns to increase the amount of high-quality leads being generated.
How does lead scoring work?
Lead scoring is usually conducted first by comparing lead information to the company's ICP and buyer personas, and closely tracking lead behavior with regard to brand interaction, from consuming content, to filling forms and visiting certain strategic pages. Other variable criteria can be defined according to the company's unique strategy and preferences.
Why is lead scoring important?
Lead scoring helps marketing and sales teams to prioritize targets more likely to buy, reducing the budget spent on cold, irrelevant leads, and therefore maximizing the effectiveness of their strategies. Having a good lead scoring system in place can help a company avoid the misapplication of marketing budgets, as well as keep sales representatives from engaging leads not ready to buy, in turn decreasing churn rates.