lamp's introduction to lead scoring
DESCRIPTION
Lead scoring is an objective ranking of a sales lead which allows it to be compared to your other sales leads. This allows for your marketing and sales professionals to easily identify where in the buying cycle each prospect is and to prioritize between leads and therefore follow-up and respond appropriately. Lead scoring facilitates more efficient and effective alignment between your sales and marketing teams. Having the objective ranking, jointly established, allows for an agreed definition of a high quality lead. This creates a basis for the exchange of feedback on the quality of leads being passed to sales. Over time, this will help ensure that your marketing team passes on the best leads which can then be followed-up with by allowing prioritisation by the buyer readiness, interest and revenue potential.TRANSCRIPT
July 2013
Julian Poulter, CEO www.lamp-360.com
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Introduction to Lead Scoring
Working with your best leads
Introduction
What is lead scoring?
An objective ranking:
Rank best leads / prioritizeSales efficiency
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Why is lead scoring relevant now
Buyers engage earlier in buying cycleSales don’t follow up poor leads“Nurtures” can last 2 years
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Why lead score in your business
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Depends on the volume Align sales and marketingBetter definition of priority leadsBetter understanding of leadsHandle lead nurtures effectively
Two dimensions– Profile– Behavioural
High profile is goodHigh engagement betterProfile Surveys
Lead scoring fundamentals
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Lead scoring vs. Marketing Qualified Leads (MQLs)
LAMP-360’s MQL definition:• Profile: the prospect is the correct profile• Need: he has a need, a problem or a pain,
otherwise he’s unlikely to do anything anyway!• Understands our proposition: to the extent he
knows he could talk to us• Accepts sales contact: a phone call or a
meeting • Has a reason to move imminently
• Lead scoring may define an MQL
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Defining the lead scoring structure
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Define 4-5 explicit categories– Pain / job role / industry / headcount / lead
source
Rank for importanceAssign (%) score
Document the engagement score
Define the categories–Opened email–Click on email –Register whitepaper–Attend seminar–Visit web page etc
Score bands A-D– Weight & decay
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Determine overall ratings
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Profile/Action
D C B A
1 Good Fit
Good fit / nurture
Priority follow up
2
3 Segment out/suppressRemove from database
Qualify & nurture
4 Poor fit
Behaviour
DLow
engagement
C B AHigh engagement
1A is the most qualified type of lead whereas 4D is the least qualified. Complete this scoring pair for every prospect.
Map rating to action
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Profile/Action D C B A
1 Good Fit
Good fit / nurture
Priority follow up2
3 Segment out/suppressRemove from
database
Qualify & nurture4 Poor fit
BehaviourD
Low engagement
C B AHigh
engagement
Best Practice in Lead Scoring
Team from S&M to build L/S strategy
Score over time, & decay
Score affects compensation?SLA for f/u timesOptions for f/u if not closed
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Future developments in Lead Scoring
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Increasing awareness of prospect influencesContent-type scoringAccount level scoringCustomer scoringPredicting changes
Summary
Needs careful planningRelevant with volume of leadsAssists alignment of S & MSpend time on better leads– Better conversion– Bigger deals
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About LAMP-360
Out of the boxProcesses to scale your businessCustomer and relationship processesAny size companyCost effectiveCloud based
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