Leads are the raison d’être of inbound marketing but as any self-respecting marketer knows, not all leads are created equal. Some contacts have a huge chance of converting in the short term, while others will just waste your time. How to distinguish the grain from the chaff? Very simple: you need to have a good lead scoring strategy to generate qualified leads . Today I am going to tell you what this technique consists of, what you need to implement it and how to establish your own lead qualification system.
What is lead scoring?
This marketing technique consists of assigning a score to all your leads to identify which are the most interesting. Through a series of formulas Morocco Phone Number List developed in collaboration with marketing and sales, you will be able to track the behavior and activity of your leads, as well as their commercial profile. The objective of this analysis is to score the probability of conversion of a lead.
If you fine tune, this technique will allow you to perfectly distinguish between different types of leads:
- Cold lead . This user is already part of your database, since he has left you his information. However, it is still very far from the moment of purchase, in the phase known as TOFU or “top of the funnel”.
- Marketing qualified lead (MQL) . This user has shown interest in your brand and its content on several occasions. In addition, you will have been able to obtain more information about it, so that you are probably already in a position to apply your lead scoring scale and see if it is ready to convert. This phase is known as MOFU or “middle of the funnel”.
- Qualified lead for sales or sales qualified lead (SQL) . Also known as a “hot lead,” you have passed all phases with flying colors and are ready for the sales team to treat you to a visit, phone meeting, or demo. It is the BOFU base or “bottom of the funnel”.
In short, having a good lead qualification plan will allow you to know with certainty which of your leads are of sufficient quality and when they are ready for you to pass your contact to the sales team. All this will allow you to obtain maximum efficiency with your inbound marketing strategies, since by focusing your efforts only on the most interesting contacts, you will save time and money.
What do you need to get your lead qualification up and running?
You are already convinced and want to add this technique to your strategies. Before we start, I’m going to go over some of the key elements you need:
- An inbound marketing strategy already in place and with a certain volume of lead generation. If you are still starting, it may be better to dedicate your efforts to get more leads and analyze what the users who convert better have in common.
- A clear idea of the qualities that make a user convert. In this section it will be very useful to have previously worked on your buyer persona : a semi-fictional representation of the ideal client of your company.
- A marketing software that allows you to automate the entire process. The score of each of your users can vary several times a day depending on their interactions and also, as we have already seen, the ideal is to work with relatively large numbers. So you need a system that does the work for you. Marketo and Eloqua are very complete systems, but designed for large companies with considerable budgets. A more adaptable option is Hubspot, super comprehensive in all inbound marketing options and with pricing options for all company sizes.
How to establish a lead scoring system
Ready to start sorting out your leads? If you follow these steps, it will surely be easier than you think.
1) Identify your MQLs
The first thing you need to do is take the step between “cold” leads and qualified leads for marketing. For this, their contact information and the level of activity they show will be key. In this article you can find more clues on how to identify your MQLs in seven steps:
- Develop a joint definition of what a good lead is by agreeing with the marketing and sales departments.
- Use the information of your buyer person.
- Ask your online sales team. They are in direct contact with customers, so your opinion is very important. What leads do you consider the most interesting and why?
- See what the top converting leads have in common.
- Analyze the behavior of your leads. What pages they visit, how long they are on your website, where they enter … all these are clues that will help you refine.
- Remember that quality matters … but quantity matters too. You need to keep your conversion funnel full, so don’t overdo your criteria.
- Study the results and review the definition periodically.
2) Establish the scoring scales
Once you are clear about the characteristics you are looking for in your leads, you will have to sort them in a list and assign a value to each one. For this, it is essential that they are easily measurable attributes: the less room there is for improvisation and uncertainty, the better. Of course, this scale will have to be agreed between the marketing and sales departments.
For greater ease, the ideal is that the maximum sum of all the scores is 100. Some scores can occupy more percentage of the total than others, depending on the Phone Number List importance you attribute to them. Or you can even play with negative scores, eg put -5 to students who have downloaded your ebook to do a class assignment.
3) Identify your SQL
The simplest and most automatable step: when a lead exceeds the cutoff score you have set, their contact is sent to the sales team so they can close the transaction.
4) Measure, review and repeat
I’ll never tire of saying it: in marketing, the job is never done. Even if your strategy works perfectly, you cannot rest on your laurels. Measure all the results, review them periodically and optimize to be more and more effective.