One of the more popular sessions at Dreamforce last week was a case study on Lead Scoring presented by Eloqua’s Innovative Marketer blogger, Steve Gershik. The study averaged results reported by 10 companies six months before implementing lead scoring and six months afterward:
Leads Provided to Sales
- 6months before lead scoring - 1372
- 6 months after lead scoring- 1058
Opportunity Win Ratio
- 6 months before lead scoring - 31.3%
- 6 months after lead scoring - 40.9%
- 6 months before lead scoring - $39,100
- 6 months after lead scoring - $45,900
- 6 months before lead scoring - $16.8MM
- 6 months after lead scoring - $19.8MM
This shows what most B2B Marketers already know: lead scoring will result in passing fewer leads to Sales, but with higher quality leads Sales will have higher win rates and close more deals faster.
A little bragging here: At the same event, my company—NetQoS—took home the Eloqua Markies Award for our success in the area of Lead Scoring. We were given the Marketer’s Choice award for a solution to a problem that many wished they had – too many leads from a very success viral campaign and a Networkers trade show.
Using Eloqua, we automated lead processing to prioritize business opportunities buried within more than 6000 raw leads. This reduced the processing time of just the 3500 tradeshow leads from two-and-a-half weeks (in 2006) to just three days (in 2007). Just 2 months after the event, we’ve already closed revenue.
Here’s a few tips we can share on processing and scoring your leads:
- Use self-qualifying questions to gather and score explicit data-the information the prospect provides using your Web forms (ie. company size, title, job function, etc.).
- Take scoring to another level by using behavioral or implicit data you collect by observing lead behavior (ie. email clicks, visits to web pages, keyword searches, referral pages).
- Test adequately before deploying.
- Monitor and optimize at least quarterly.