Masterclass: find the right lead scoring model for your business

Masterclass: find the right lead scoring model for your business 

At BeBold, we know that generating leads and increasing revenue is a top priority for businesses. As a result, lead scoring has become a critical component of sales and marketing strategies. By assigning scores to leads based on their engagement level, businesses can focus their efforts on leads that are most likely to convert. However, finding the right lead scoring model for your business can be a daunting task. That’s why we created this blog to explore various lead scoring models and offer practical advice on choosing the one that best fits your unique business needs. 

First things first, what is lead scoring? 

As a business owner or marketer, you understand the importance of generating leads. However, not all leads are equally valuable, and it can be challenging to identify which leads are worth pursuing. This is where lead scoring comes in. Lead scoring is a process that evaluates each lead based on their level of engagement and likelihood to make a purchase, assigning them a numerical value. By implementing a lead scoring model, businesses can prioritize their efforts and focus their resources on the leads that are most likely to convert. 

What are the attributes of a successful lead scoring model 

Practical and scalable

A successful model is practical and scalable, designed for your specific business, leads, and pipeline, implemented without marketing and sales needing to score every single lead interaction. A practical and scalable lead scoring model allows you to funnel the right leads to the right people.

 The result of teamwork between marketing and sales

Effective collaboration between sales and marketing is key to the success of any lead scoring program. While lead scoring can help identify the most promising leads, its effectiveness depends on how well your sales team uses the information. For this reason, it’s essential to involve sales leaders in the development of your lead scoring system.  

By seeking their input on what criteria are most important to them, you can create a scoring model that meets their needs and aligns with your business goals. This collaboration will ensure that your sales team is fully on board with the system, leading to more closed deals and increased revenue. 

Data you can collect to build your scoring model 

Demographic information 

By including questions about demographic factors on your page forms, you can use this gathered data to score leads on how well they fit your buyer persona.

Company information 

If you’re looking to create a lead scoring model for a B2B company that incorporates company information, there are a few steps you can take. One effective strategy is to add questions to your landing page forms that gather data on company size, type, and industry. By doing this, you can use the information collected to score leads based on how closely they align with your ideal customer profile. This will help you prioritize leads that are most likely to convert and make the most of your resources.

Online behaviour 

Track how leads interact with your website by build a system that considers online behavior. For example, you can track which offers they download, how many pages they visit, and how long they spend on your site. 

Email engagement 

It’s essential to understand the level of interest someone has in purchasing from your company if they’ve signed up to receive your emails. While open- and click-through rates provide a good overall view of their interest, your sales team needs more detailed information. By identifying the individuals who opened every email in your lead nurturing series or consistently click through on your promotional emails, you can focus on those who are most engaged and likely to convert.

Social engagement 

A lead’s engagement level with a brand on social media can indicate their interest. How often they click on tweets and Facebook posts or retweet or share those posts can provide valuable insights.

Examples of lead scoring models

Model 1: Website visitor scoring 

Attracting potential customers to your website is just the first step. But how do you identify those visitors who are most likely to become paying customers? With a website visitor lead scoring model, you can score leads based on their behaviors and interactions on your site, giving you a better idea of their level of interest.

For instance, if someone visits your pricing page or provides their email address, they’re demonstrating a high level of interest and should receive a higher lead score. On the other hand, if someone just reads a blog post or clicks on your “about” page, they may not be as engaged and should receive a lower score. By using this method, you can focus your efforts on the most promising leads and maximize your chances of converting them into customers.

Model 2: Suitability and activity

The suitability and activity model is a method used to evaluate the compatibility and interest level of potential customers for your company. By analyzing how frequently a person has engaged with your website, you can determine the likelihood of them becoming a customer. If a lead is a good match and has interacted frequently with your site, they’re more likely to convert. On the other hand, if someone is not a good fit and has not engaged much, they’re less likely to become a customer. However, there are also leads that fall in between, such as those who aren’t an ideal match but still show interest in your offerings

Model 3: B2B lead scoring model

This model is a lead scoring method that gives more value to leads with high authority to make purchasing decisions. A vice president will get more points than an HR manager. This model is ideal for B2B lead generation because it targets specific job titles, departments, and business types.

Model 4: email engagement

Email engagement is an essential factor in determining a lead’s interest and readiness to convert. By tracking factors such as open rates, click-through rates, and the number of unresponsive contacts, we can gauge the effectiveness of our email campaigns and adjust accordingly.

However, we understand that every business has unique needs, and a one-size-fits-all approach is not the answer. That’s why we combine different aspects of lead scoring models to create customized solutions tailored to your specific requirements. Our marketing automation solutions, such as ActiveCampaign and Adobe Marketo, provide lead scoring models that take into account engagement in email campaigns, demographic data, website behavior, and more, to help you generate high-quality leads.