Are you taking proper advantage of your marketing data? There are so many different ways that your data can help create processes and campaigns to assist your sales and marketing teams in generating leads and closing them into sales.
One of those processes includes sharpening your lead scoring strategy to help you determine the leads and accounts that are more likely to convert into customers than others. This is an important strategy because it helps reduce wasted time on leads that simply aren't going to convert.
What is lead scoring?
Essentially, lead scoring is the process of ranking your new leads and prospects by how likely they are to eventually become new customers.
At first glance, this seems like a daunting task. Taking a look at your new leads and immediately knowing which of them to bother working may seem impossible at first.
But that's what your marketing data is for. Utilizing the information you have at hand will help you to determine your lead scoring strategy and which prospects are more qualified than others.
What marketing data help with lead scoring?
There are several different types of marketing data that can help you to score leads successfully. Here are a few of the data analytics to which you need to pay the most attention, along with what they can mean for your leads.
- Job Title
Especially in B2B marketing, understanding someone's job role at their company can help to determine whether or not they're a quality lead. First, you want to make sure the lead is in the right department of the company that you're trying to reach. Second, you want to make sure they're in some kind of decision-making role, or at least in a position to influence the person who is the decision maker.
You're simply not going to be able to sell to an industry that has no need for your product or service. This is an easy way to sort your leads in order of importance.
- Company Size
Some businesses have products and services that only cater to enterprise-level companies while others focus on small-to-medium businesses. The number of employees within a company or team can also be a factor as to whether your product or service will be beneficial.
- Annual Revenue
Depending on your product or service's price point, you may need to nix leads or accounts from businesses with a lower annual revenue if you know they won't be able to afford what you're selling.
This can be page views, website visits, engagement on social media, clicks on social media posts or ads, or any other type of online interaction with your business. The more someone interacts with your content, the more likely they are to become a customer. They're obviously aware of your brand and interested enough to keep up with your online presence. Leads who regularly interact with your business are qualified leads.
Lead scoring helps your company's sales team to know how to use their time more productively by targeting only those leads that are likely to convert. To learn more about collecting and managing the data that will help you to sharpen your lead scoring strategy, contact us for a free demo.