Creating a scoring system for determining the likelihood that your leads will convert into sales is an effective strategy for helping to optimize your sales process. It can help you to understand why some of your leads may not be converting and to create improvements in your marketing. It can also help you to see what platforms and campaigns your best leads come from, prioritize opportunities to pursue, and give the most qualified leads to your sales team.
To create a lead scoring system, first create a list of criteria for what you consider to be a qualified lead. For each of the criteria, assign point values. Then, you will be able to add up the points for each lead. Below, we offer more details about this system.
Identify Your Audience
Before creating your lead scoring system, it’s important to get specific about who your ideal target audience is and the reasons why they would qualify for what you offer. Create specific buyer personas for each customer type that you have. Include demographic information about your customers such as niche, title, age, location, and income level.
Determine Lead Behaviors to Track
In addition to identifying your audience and their demographics, determine what lead actions you want to track. For example, this can include visits to your website, requesting information or downloading a free offer, singing up to your newsletter, viewing or responding to your emails, or having a meeting with you.
Creating Your Scoring System
To create your lead scoring system, determine the lead characteristics and behaviors that are most significant for leading to a sale, and give them point values. For example, you might score certain types of leads higher than others, and score certain lead behaviors higher than others.
You can look at past lead generation data to help create your scoring system. This can help you to analyze the customer journeys of various types of leads and identify which types became customers and which did not. It can also help you to see which campaigns have been the most effective. Getting insights from your customers and sales team is also valuable.
You will also need to decide what scores in your scoring system mean that a prospect is qualified for making a purchase. This may require a testing period. You can also create a process for sending the qualified leads to the sales team and for deciding which types of leads to nurture that are not yet ready to buy. For using a lead scoring system, it is best to use automation tools that will help you to track the value of a lead and update its score as its status changes. Having a lead scoring system will help your sales and marketing teams to run more efficiently and to increase your sales.
A coach can help you to create a lead scoring system for your business. Get in touch today!