Lead Scoring best practices
There is a lot of discussion about the best practices for lead scoring. Simply, the best practice is to automate the process. This may appear at first glance overly-simplistic, however, I suggest you look at your organization and first ask yourself if the process for passing leads to the sales team is fully automated or not. If it is not fully automated then you are not gathering all the data you can to learn from your prospect and customer interactions.
Once fully automated you first define the current best practices currently implemented. Understand why they were implemented, where they seem to be working and where they are not. The rules must be specific to your business, so find a product that guides you through defining the rules, then provides for quick and rapid change once lessons can be learned.
Implement the lead scoring rules and then start to monitor. Test different outcomes. Test different results. Some vendors will state there is one optimized way to deliver lead scoring rules. They are right in principle, there is one way, but that way is your way not the way their tool works. Your business is unique in the way it interacts with its customers, and therefore you must understand your business’ specific rules that optimize the chance for converting a prospect to a customer.
Once implemented continue to monitor the rules and improve them. Your business changes every day, change influenced by new products, new verticals, new pricing, changing macro-economic conditions, new competitors. Your prospects therefore will change and require a different dialogue to convert them to customers as products mature, prices change and your company expands.
Lead scoring is one part of Lead Management, Lead Routing is another critical part. It is not enough to know how to next interact with a prospect, it is essential to know when, why, and to ensure when an instant response is required it is acted on immediately. Moving the prospect through the dialogue intelligently and engaging them in a conversation dramatically increases the probability for conversion for customer to prospect.
In summary, there is no one way to deliver Lead Management to meet your business’ requirements. What you need is to automate the process, manage it centrally and consistently using the best practices your business learns as it interacts with more and more prospects. The best way to deliver fully automated Lead Management is using MarketBright.
