There is no question that nurture campaigns are an essential part of your marketing strategy. Delivering the right messaging to the right leads at the right time promises to increase the value of your campaigns and improve conversion rates. However, the success of a nurture campaign is measured on more than just clicks or even higher conversions.
A great nurture campaign improves the efficiency of both sales and marketing by ensuring the right salespeople communicate with leads when they are ready to make a purchase. For lead nurturing to run smoothly, marketers need a strategy for qualifying prospective customers as they enter your pipeline.
That is where predictive lead scoring changes the game. All leads are not created equal, especially if your business takes an account-based approach to marketing. Armed with good, quality data, smart marketers can build a predictive lead scoring strategy directly into their nurture campaigns and immediately improve the efficiency of their sales partners.
What is Predictive Lead Scoring?
Lead scoring is, by nature, admittedly a bit of a guessing game. Traditionally, the process of identifying high-potential leads and passing them along to sales has been a heavily manual process. Marketers collaborate with sales to determine what defines a “qualified” lead, then would analyze inbound leads one-by-one to measure their quality against the defined criteria. Naturally, a traditional lead scoring strategy is susceptible to human error — both in defining the qualities of a hot lead and in the identification of those qualities.
Today, lead scoring still requires some guesswork but is not vulnerable to the same problems as traditional lead scoring. That is because predictive lead scoring does not rely on anecdotal evidence from sales partners or manual scoring efforts by marketers.
Instead, predictive lead scoring analyzes the demographic, behavioral, and psychological data common among leads that convert to customers for your business and actively seeks those same characteristics in new leads entering your data management platform. It is an algorithm — not a person — that analyzes which leads historically convert and when to contact them.
That last part — the “when” — has huge implications for your nurture campaigns.
How Does Predictive Lead Scoring Positively Impact Nurture Campaigns?
By design, nurture campaigns are part of your long-term marketing strategy. Prospects may convert to leads but, depending on their stage of the customer journey, may not be ready to make a purchase for weeks or even months. There is no set timeline for how long leads need to be nurtured. Instead, it is their activity that dictates when you should reach out.
Predictive lead scoring compliments your nurture campaigns by identifying which leads are ready to actually connect with sales based on key trigger events defined by previous leads that converted. For example, if 60 percent of the leads that end up reading a particular case study on your website end up buying from you within two weeks, predictive lead scoring will quickly flag any prospect that reads that case study.
Predictive lead scoring helps with more than just the “who” and the “when”; it also helps salespeople with the “what.” Following up with a hot lead and sharing the right information tailored to their business allows sales representatives to craft a personalized interaction with potential customers.
Of course, predictive lead scoring relies heavily upon high-quality data. To learn more about how ReachForce SmartForms can help you optimize lead generation and improve your impact on revenue, sign up for a free trial and get a demo today.