Blog post By Paula Chiocchi on 2023-08-16
We all know marketing resources are precious: every dollar spent must yield the highest possible return on investment. That's why understanding which campaigns attract the most promising leads and then identifying those leads is a game-changer for marketers in 2023. This is where lead scoring comes in.
Lead scoring assigns a value to each lead using defined attributes and behaviors that indicate the likelihood of that lead converting. Done right, it not only changes your immediate actions to focus on the leads that are "worth it," but it can also transform your entire strategy and approach.
Combining lead scoring with buyer intent data can provide deeper insights and increase your chance of conversion even more. According to Gartner, “From a sales perspective, intent signals from a potential B2B buyer can help businesses prioritize the right leads and optimize marketing and sales resources.”
Whether you’re just getting started or looking to refresh your current system, here are some tips to get the most out of lead scoring.
Define Your Criteria
The exact criteria and value for lead scoring will be different for every business, with the scoring model typically designed around a 100-point system based on a variety of factors, including:
Leverage Intent Data
Combining lead scoring with intent data takes it to the next level. Intent data provides a real-time look at a lead's online activities, searches, and other interactions. When you know what a lead is searching for or interested in, you can better understand where they are in the buying journey and tailor your messaging to address their specific needs. And if a lead's online behavior indicates a surge in interest, you can trigger an immediate response to increase the likelihood of conversion.
Use an intent monitoring approach that allows you to target those individuals who are actually most likely to convert. Deterministic intent monitoring allows for greater targeting at the individual level, compared to probabilistic approaches, which are primarily driven by company IP address identification. With deterministic methods, you won't risk the chance of targeting the wrong prospect using a shared device, such as in a household.
Lead Scoring Models
Once criteria are defined, the scoring can be approached manually or through probability or predictive models. While manual scoring offers control and simplicity, probability-based and predictive models make lead scoring possible at scale and with data-backed decision-making.
Scored leads are typically segmented to guide the resulting marketing and sales efforts. "Hot" leads with the highest scores may be ready for direct sales outreach and personalized communication, while those with mid-range scores may be interested but still need nurturing and time to move through the funnel. The more data you have, the greater your ability to segment and execute a personalized sales strategy.
Lead scoring streamlines the sales cycle, so you allocate your resources precisely where they matter most: targeting the leads most likely to convert and engaging them with messaging to address their specific pain points.
As with all data-driven sales and marketing tactics, your results will only be as good as what you put in. The accuracy and effectiveness of your lead scoring rely directly on the quality of your contact and intent data.
At OMI, we believe good things happen when you share your knowledge. That's why we're proud to educate marketers at every level - in every size and type of organization - about the basics of email marketing and the contact data that powers it.