Perfecting the art
Your scoring model is up and running…Now what? This often goes in one of 2 directions, the first, it does not deliver after 30 days and people start to change everything. The other is people say “Thank goodness”, and that’s the last time it is touched.
It is important to realise that creating a Lead Scoring model is not a science and there is no magic formula for getting it right.
The 2 most important aspects to monitor at the beginning are: quantity and quality. Are you pushing enough leads through or are sales swamped. Are the leads of a high quality or are sales complaining they are dead ends. Whatever you do don’t panic and don’t start making major changes. Look at the thresholds, should one raise them slightly or drop them to control the quantity of leads. Is the balance between behavioural and demographic criteria balanced?
You are going to need to make small adjustments initially but not to worry no one gets it right first time. After 3 months things should start to settle and after 6 months you should have a better idea as to whether it’s working or not.
One tip may be to do a soft roll out. Run scoring in the marketing solution, look at the numbers, ask sales about the quality of individual leads, but don’t do a major internal launch. Once you are happy with the way the model is working you can roll it out to the sales teams (CRM). You could also do regional, product, or department testing, and roll it out across the company at a later date.
Like with most aspects of a marketing automation programme you want to get buy-in from the different parties, so don’t force things upon other parties too soon, involve them in the process on a regular basis. Ask for feedback.
Once in place your scoring model is a fantastic strategic tool. Your lead scoring model should help you to:
- Automate prospect identification
- Determine a prospects interest
- Automate the handover of hot prospects
- Optimise the flow of leads to sales
- Determine where a lead is within the buying cycle
- Ad a prospect to a nurture campaign or push them to the next stage
- Measure campaign effectiveness
- Improve sales and marketing alignment
The most important thing about a lead scoring model is that you don’t let it go past its sell by date. Make sure you monitor it, keep it updated with the latest behaviour criteria, and keep asking for feedback, and ensure you continue to enjoy the support of all stakeholders.