In today’s era of postmodern business, hot leads can no longer be stored in a Rolodex and scored on a calculator. Marketers can’t track leads while simultaneously pioneering flawless product campaigns.
There’s no clear dividing line between which prospects are ready to buy and which aren’t, but lead scoring directs marketers’ attention to the most promising prospects based on acquired numerical data. Lead scoring is a dynamic marketing tool in which points are awarded or lost based on:
- A prospect’s profile
- Online/offline behavior
- Readiness to buy
In other words, it helps find the right contacts at the right companies at the right time.
In order for lead scoring to be successful, assigned points must be based on a small number of factors – the more factors you have, the less weight each carries. When a lead reaches a predetermined score, it signals the marketer or sales rep that it’s time to turn on the charm. Since every business has the freedom to build its own lead scoring module, they can be tweaked as needed.
It’s important to pay attention to where leads are spending their time. Are they watching recorded webinars and demos? Searching for your company or subscribing to alerts? Businesses that provide all leads with engagement opportunities will thrive with a lead scoring system.
Think of leads as homemade cookies. They have to bake for a set time period before they’re ready to be pulled out of the oven. Take them out too early and they are raw, take them out too late and they are burned.
Lead scoring provides marketing and sales with direction and prevents them from wasting valuable time and resources on un-nurtured leads. Marketers can also track how well their campaign practices are working to bring in new business.