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.
It is then that 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, is related to your interest in products or services of a brand.
On the other hand, the importance of lead scoring lies in the fact that it helps companies to 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.
Another distinctive feature of the lead score is that companies score their leads in different ways; from a point assignment (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 can present variations in the field of marketing and sales.
While in marketing, leads are synonymous with potential customers (also known as "prospect"), 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 are three types of leads registered, which are distinguished from the moment of the purchase cycle in which a client is found.
- IQL – Information Qualified Lead
The Spanish translation of this lead is “potential client of qualified information”. This is a potential customer who gives up their 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 enhance 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 purchase decision. They only require more content and marketing strategies to help them integrate (or become loyal) to the brand.
- SQL – Sales Qualified Lead
Finally, there is the “sales qualified lead”, a lead that has the greatest impact towards the end of the buying cycle. Appears when closing a sale through various offers. It can be said that it is the peak of the process, since here we speak 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 in order to make an effective allocation of points. Next, you will know what these items or parameters are to take into account.
- Information of the organization or company
This parameter applies to B2B companies, since certain companies or organizations need to know data from the lead's company. This is done more than anything to find out if what one organization offers is convenient for the other.
Another area to try to cover is demographic data. This type of information helps to segment and discard those leads that do not complement or comply with what the company is looking for. It is important to keep a record of each response and data provided by users.
- Behavior with emails
It is vitally important to attend to and analyze the behavior that users have in front of the emails that arrive . 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 behaviors in email, it is also important to keep track 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 that is offered.
Advantages of lead scoring
Next, you will know what are the advantages and benefits offered by the lead score . This in order to address the various improvements that this methodology has for your company.
- There is greater participation of the sales team.
- Helps segment the database.
- It is an excellent complement that helps to make a lead nurturing based on the interests of the users.
- Organize large amounts of data.
- Facilitates the flow of potential customers towards the sale of the brand.
- Allows you to analyze the quality of leads.
- The effectiveness of marketing actions is increased, which is based on the user's Buyer Journey. This means that the client can orient himself in what he needs at each stage.
- Reduce campaign costs.
- Identify the content that generates the most interest among users.
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 they have in common.
Step 2. Choose the scoring criteria
This step varies according to the characteristics of what you consider to be 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. Create a table of points by criteria
To do this, you must first establish a point system. How do you plan to score your leads? With numbers, letters or terms? Once you've decided, add or subtract the customer points from the good customer standard you created. Keep a good record 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.