What is lead scoring?
Lead scoring is a way to measure where your customers are in the customer journey. The leads you get through different activities accumulate points based on their behavior, you can acquire your leads through different activities, you can read more about lead generation here. Thus, a lead scoring can show how motivated a lead is to buy, as well as what the lead is interested in. Lead scoring is a systematic way of calculating what information leads need and when, to ensure your company is top of mind when the customer is making a decision.
Lead scoring is an important process that helps your sales and marketing team prioritize leads, process that specific lead in the right way, and increase the number of leads that end up convert to a customer.
How companies choose to value, or score, their leads often differs from company to company. However, the most common way is to use data from previous leads to create the value system.
How do I add value to my leads?
How? First, look at your contacts who became customers to see what they have in common. Then you look at the attributes of your contacts who did not become customers. Once you've looked at the historical data from both sides, you can decide which attributes to weight heavily based on how likely they are to indicate that someone is a good fit for your product and thus may convert to becoming a paying customer.
What matters most?
How do you know which data matters most - Should you find out by talking to your sales team? Should you interview your customers? Should you dive into your data and produce a few reports?
If you're thinking that, then you're not wrong, because you should actually combine all three. Your sales team, your customers and your analytics help you gather enough information to assess which content is most valuable in converting your leads into customers, thus helping you incorporate specific points into specific offers, emails, etc.
Lead scoring - continuous update
Unfortunately, once you set up your lead scoring system, many people forget to optimise it. However, this is a big mistake, because just as you optimise your marketing activities, you should also update your lead scoring system. Of course, you can choose to sit back and let it run, but continuously analyzing and optimizing your criteria and values is important.
If your leads are generally bad, you might consider increasing the lead score value for when a lead is hot, and conversely decreasing the lead score value if your leads are generally good. In addition, you should also analyze your leads to find similarities between.