Digital Marketing from the Trenches : Live at the Hive
Lead Scoring Tactics for Qualified Conversions
Lead scoring can change the game of acquiring leads, and this week we're talking about lead scoring tactics that will allow you to focus your time on leads who are more likely to convert into actual customers.
This is a sort of sequel, or companion piece to our previous blog, which you can find here, for those that missed it:
Non-Linear Customer Journeys and How to Implement Them
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What is Lead Scoring?
Lead scoring is the process of assigning each of your leads a score.
The score is based on who they are, how they interact with your business, and how likely they’re going to convert into a customer.
By reviewing your customers' past behaviours and other characteristics, you learn who your sales team should focus their efforts on.
Look at this graphic below for some interesting statistics on how lead scoring tactics can help grow your business.
As you can see, improvements are across the board, from streamlined sales processes to laser-focused marketing communications.
It isn’t enough to just build a massive email list and market to everyone.
You also have to make sure that your leads are qualified to purchase the product or service you’re offering.
This is where lead scoring can help.
Check out this excellent short video from Hubspot that's a great summary of the concept of lead scoring. Also, I frickin' love pinball.
Why Do You Need Lead Scoring Tactics?
Lead scoring pinpoints leads who are genuinely interested in your business’ product or service.
When you use lead scoring tactics to create your lead nurturing campaigns, it can help increase lead-to-customer conversion rates.
You can also determine which stage of your marketing funnel needs more nurturing.
That way, you can map your content properly, so they’ll convert more quickly.
Other benefits include shortening your sales cycle and increasing your business’ ROI.
Marketing Sherpa states that only 27% of the leads your marketing team hands over to your sales team are qualified leads.
This means that 73% of those leads are likely time wasted for your team.
The more qualified your leads are, the more efficient your team will be.
And you’ll save a ton of wasted time and money.
There's a reason why converting leads into customers is the #1 marketing priority of successful companies.
How Do You Set Up Lead Scoring?
There are some great tools out there that can make your lead scoring tactics a breeze to execute.
Sure, it can be some complex stuff, especially when you get into larger companies with multiple channels and touchpoints to track.
But with the right tools, any job can be made more manageable.
Here at Honeypot, we use Active Campaign - precisely because of the advanced automation toolsets they have available.
It's intuitive to use and a fantastic feature to have when setting up mail campaigns.
Mailchimp and Salesforce also have excellent tools that can help you set up lead scoring and are very po...