What Is Lead Scoring

Many years into business or as a new startup owner; your success is driven by lead generation. Whether you get help from lead generation resources or specified tools, your goal is to get purposeful leads. A potential lead’s buying cycle starts when a product or service is viewed more than once. 

But, in the era of Avant-grade evolutionary marketing, you might require real-time assistance. There comes the phenomenon of “Lead score” to the rescue. It makes your way to potential buyers slip through the slide.  

What is Lead Scoring? 

Lead score or lead scoring is a method to identify the hotspots to reach a potential lead and convert it into a consistent buyer. 

It’s as simple as scoring a candidate to succeed on a test; you grade according to the score assigned to every action! 

The lead score is calculated from a predetermined standard score that’s to be mutually decided by the marketing team of any business. Though the standard lead scoring model is identical for the same niche businesses, the focus is on driving through the right path to partner up with a potential lead. 

How is Lead Scoring Done?

The lead score is generated from a series of actions undertaken by the prospective leads. 

We’ve split up the steps through the ladder of your goals:

Identify a Checklist

 A capable lead is identified through a pre-set qualities checklist. 

Reach Out to Potential Prospects 

The data concerning the potential leads are collected and are classed as demographics, interests, and actions. This information plays a nifty role in deciding on a particular lead or whether they will ever use your product. 

Scoring Based on Actions 

Generally, leads qualify as cold, warm, or hot based on their interactions with any business. However, there’s a numeric scoring dedicated to their actions towards your business. 

Lead scoring best practices imply the division of leads as less-interactive and ideal leads. The two must undergo respective protocols to bring them on the same page as buyers. 

Application of Metrics 

The lead scoring results are further analyzed through standard metrics. Metrics point out those budding spots where your leads are most indulged in, e.g., email responses, social media interactions, blog insights, website visits, etc. 

How to Calculate a Basic Lead Score?

There are two ways to calculate a basic lead score. One is the predictive or automated lead scoring model; the other is a manual lead score calculator. 

There are four notable steps to have a manual overview of lead scoring: 

Find the conversion rate to build up your lead scoring calculation system. The ratio of new clients to the leads generated by sources determines the conversion rate (prospects to customers). 

Generalize attributes from the high-scoring leads and analyze their most interacting spots. 

Find the close rates based on the assigned attributes such as website visits, email responses, successful purchases, etc. 

Compare the results of both scores with the baseline leading score to find

the key attributes that led the conversion. 

Lead Scoring Examples 

Marketing lead scoring is a value-driven approach that determines the significance of a lead for a business according to a standard baseline. 

Lead Scoring for Email Interactions 

Lead scoring is a handy way to track how interactive your consumers are with your brand announcements and email updates. 

You can score consumers’ actions as follows: 

Email click (+20 points) 

Email opens and browsing (+15 points) 

Consistent Unopened emails (-25 points) 

Specific email opens (+25 points) 

With the right points against actions classification, you can root for the most promising attributes considered by your customers. 

Lead Scoring for Online Interactions 

Online interaction is a broad term that accounts for multiple engaging actions most prospects undertake. 

Lead scoring can be performed as 

Visiting service pages (+15 points) 

Visiting pricing and specifications pages (+20 points) 

Downloads (+10 points) 

Blog views (+5 points). 

Hence, you’ll be sorted out how and where to impose a purpose-oriented strategy to maintain an inclining lead count.

Lead scoring is a tricky yet effective track to follow. It organizes your entire business and marketing module toward uniform goal achievement.