Stats from MarketingSherpa show that 65% of B2B marketers have not established lead nurturing, while 79% don’t have a lead scoring plan in place. These are alarming figures, considering how central a lead scoring plan is to move people who engage your brand down the sales funnel.
If you’re currently using manual lead scoring – in other words, deciding how likely a customer is to buy based on a gut feel or a few isolated interactions – you’re likely missing out on quite a few golden converting opportunities. Let’s take a closer look.
No more gut feelings. More metrics.
Lead scoring removes emotional bias and bad judgement calls from the equation. It also ensures you’re following the cues from your different marketing assets to determine whether a prospect is ready to buy now or needs a bit more nurturing.
On average, 75% of leads are not ready to be passed on to sales (and perhaps never will be). So using a lead scoring system to determine how hot or cold a lead is puts you in the position to give the prospect information they actually need.
Lead scoring is often a difficult system to set up, and requires lots of testing and changes to get right. There is nothing worse than “qualifying” a lead through your lead scoring plan, only to learn they’re far from a purchase decision.
In one of our previous blogs, we discussed the BANT framework for lead scoring, which is a good place start. But how do we rank our archive of marketing collateral, and the way our web users are interacting with it? Here are a few pointers to consider:
Divide your marketing collateral into top-, middle- and bottom-of-funnel assets
You undoubtedly have a range of marketing assets that can be used to get people’s attention. Do a stock take of all your brand’s marketing assets. These could include:
- Thought leadership articles
- Technical white papers
- Customized microsites
- Case studies
- Blog posts
- Customer testimonials
- Video demonstrations
- Product videos
- Data sheets
- Product brochures
- Social media channels
Divide these assets into top-, middle- and bottom-of-funnel assets by looking at the content that resides within them. Identify each asset’s relevance to the buyer’s journey and position them in a way that is conducive to your leads converting in a logical and rational manner.
Allocate points to each asset based on funnel stage
This involves how your prospects interact with your marketing assets and what the desired outcome of that interaction is. Allocate more points to bottom-of-funnel assets and fewer points to top-of-funnel ones so as to measure and quantify a lead’s engagements with your marketing collateral. The higher the cumulative score, the more likely they are to buy from you.
Top of funnel assets, such as clicking through to a blog post from your Twitter page, for example, could be allocated 10 points. A person who signs up for a free webinar after reading about the event on LinkedIn may qualify for 20 points. A person who downloads a How To guide to find out how to assemble your product in their home could qualify for 30 points.
If a lead needs 80 points to be deemed “qualified”, for example, your top-of-funnel asset may be 10 points, your bottom-of-funnel asset might be 30 points, and visiting your pricing page might be 40 points. This lead would be deemed qualified based on their engagement and interaction with your decision-stage pages and content.
Test, test and test some more
Ranking your marketing assets for your lead scoring plan will require some trial and error. Sometimes downloading marketing assets isn’t enough to fully qualify a lead, so you might have to look for specific fields filled out in conjunction to this interaction to fully qualify your leads.
According to HubSpot, 45% of companies are using some form of CRM to store lead data, 84% of which have a standard in place for scoring lead quality. This shows how crucial it is to set up a strategy and system that works for your business. If you need help putting together a lead scoring strategy or a marketing strategy to attract better qualified leads, get in touch.
Find out more ways to qualify leads by downloading our guide: 5 Marketing Hacks to Qualify Leads Effectively.