Lead score: what it is, its importance and how to apply it

The lead score , also known as lead scoring (whose translation into Spanish is the equivalent of "lead scoring system"), is a process that consists of classifying the level of interest of a lead.

The intervention of the sales and marketing team is important in this process, as they will agree on the “definition” of aqualified lead , or what could be conceived as the ideal standard of customer .

This is when the lead score is also conceived as a methodology that helps determine the value of potential customers, attributing values ​​to them based on their behavior . This eventually relates to your interest in a brand's products or services.

On the other hand, the importance of lead scoring lies in the fact that it helps companies examine and determine what content is most attractive to customers. It also helps to know how many interactions there are between the company and the prospect of converting a person into a customer. In more concrete terms, this practice helps improve the overall sales process of any company or brand.

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Another distinctive feature of lead scoring is that companies score their leads in different ways; from an assignment of points (such as A, B, C or D) to the use of terms such as "mature", "developing" or "immature".

What is it and what are the types of leads?

Leads are another way of naming people, companies or organizations that show interest in the products or services offered by your brand or company. However, this term may present variations in the field of marketing and sales.

While in marketing leads are synonymous with potential customers (also known as "prospects"), in the field of sales leads are those customers who have already given their data to a company, voluntarily or in exchange for something.

Types of lead scoring

There is a record of three types of leads, which are distinguished based on the moment of the purchase cycle in which a client is.

• IQL – Information Qualified Lead

The Spanish translation of this lead is “qualified information potential client.” This is a potential customer who gives up his or her data for the first time in exchange for content that he or she considers useful; from an e-book to any downloadable resource.

It is important to mention that this content must be related to what the company or brand offers. Or, in other scenarios, the content offered to the customer must be complementary to improve the person's experience.

• MQL – Marketing Qualified Lead

Known in Spanish as “qualified marketing clients,” they are a type of lead that has a special interest in what a brand or company can offer. Their genuine interest leads them to respond and attend to the marketing actions used by the company; from interaction on social networks to opening emails.

They are potential customers who want to make a purchasing decision. They only require more content and marketing strategies that help them integrate (or build loyalty) with the brand.

• SQL – Sales Qualified Lead

Finally there is the “sales qualified lead”, a lead that has greater impact towards the end of the purchasing cycle. It appears when closing a sale through various offers. It can be said that it is the peak of the process, since here it speaks of the clear interest that exists in acquiring a product or service.

What parameters are taken into account in lead scoring?

If you want to design and implement a lead scoring system, it is important to take into account certain parameters or elements to be able to make an effective allocation of points. Next, you will know what these items or parameters are to take into account.

• Organization or company data

This parameter applies to B2B companies, since certain companies or organizations need to know data about the lead's company. This is done more than anything to find out if what one organization offers suits the other.

• Demographics

Another area that must be covered is demographic data. This type of information helps to segment and discard those leads that do not complement or meet what the company is looking for. It is important to keep a record of each response and data offered by users.

• Behavior with emails

It is vitally important to attend to and analyze the behavior that users have regarding the emails that they receive . In this sense, it is said that users who have a high-value interaction for the marketing and sales team can be easily identified.

• Social and online interactions

Just as you have to pay attention to behavior in email, it is also important to keep a record of interactions on the website and other social platforms. This is done in order to assess, from a positive perspective, the interest that users show in the content offered.

Advantages of lead scoring

Next, you will learn what the advantages and benefits that the lead score offers. This in order to address the various improvements that this methodology has for your company.

• There is greater participation from the sales team.
• Helps segment the database.
• It is an excellent complement that helps lead nurturing based on user interests.
• Organize large amounts of data.
• Facilitates the flow of potential customers towards the sale of the brand.
• It allows you to analyze the quality of the leads.
• The effectiveness of marketing actions is increased, which is based on the user's Buyer Journey. This allows the client to orient themselves to what they need at each stage.
• Reduce campaign costs.
• Identify the content that generates the greatest interest among users.

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How to make a lead score for your company

Making a lead score for your company or organization is very easy. You only have to take into account the following four steps to enter the game:

Step 1. Create a “good customer” profile

As mentioned above, sales and marketing teams will need to create a definition of what a “good customer” or “ideal customer” is for your brand. We recommend that you establish at least 3 parameters or traits that you have in common.

Step 2. Choose the scoring criteria

This step varies according to the characteristics of what you consider a "good customer." Likewise, you will have to choose the criteria based on the data and information recovered from your clients or users.

Step 3. Prepare a table of points by criterion

To do this, you must first establish a points system. How do you plan to score your leads? With numbers, letters or terms? Once you've decided, add or subtract customer points from the good customer standard you created. Keep good records so as not to confuse the data.

Step 4. Automate scoring

You can look for some software that allows you to automate this scoring process. Remember to make a correct configuration so that there are no errors or alterations in the results.

Schedule a call with MHA and learn about how to nurture your customers and sell more and better.

Written by Moises Hamui Abadi : I am an entrepreneur, founding partner of Viceversa and SoyMacho. After leading several digital businesses and advising several other businesses; I decided to form MHA Consulting, a digital marketing consultancy dedicated to growing and enhancing digital businesses in more than 7 countries and generating more than 1,500 million pesos.