Lead scoring, as a term, has been thrown around in Lead generation and sales for over a decade now. There are a million articles on the world wide web about how to do it, why to do it and when to do it. 3 things to take into account before deciding if you need lead scoring or not are:
Is your universe wide enough?
This is in the sense that there shouldn’t be a scarcity of leads. The sales team should be overwhelmed by the number of leads.
Is there a good rapport between the sales and marketing teams?
The leads given to the sales team should be tried out before labelling it as a bad lead. If the sales team labels most of the deals as bad leads without calling, then you most certainly don’t need lead scoring. The real solution here is to align your marketing and sales teams.
Is there sufficient data?
You need basic firmographic information which includes the names of the individual or company, revenue, and the usual ones. This is collected by making them fill out a form (name, email address and company name) in return for some downloadable file they’d be benefited from. Another type of required information is from behavioural analysis. The number of clicks, the pages they viewed, etc.
This is for inbound lead scoring. This is ideal when you have a huge wave of visitors coming to your website every day and the volume is too large to handle individually.
What if you’re a company that got freshly incorporated, learning your ropes and learning to stay afloat or you sell valves and nobody comes online searching for valves? The traffic isn’t going to be much. Inbound lead scoring is going to be largely a pointless exercise.
That’s when you go for outbound lead generation and hence outbound lead scoring.
Say you’re a startup that plans kickass corporate events and employee engagement programs. Every company falls under your radar. You’ll definitely need lead scoring for outbound sales. After doing the demographic filter – which is ruling our prospects based on size, revenue, or whatever your needs are. Next, comes the public insights analysis.
Keep an eye out for companies that have recently hired or looking to hire CHROs, a.k.a CPOs. (Chief People Officers). If they have a CPO, s/he is probably going to turn attention towards employee engagement once they settle down.
Look for companies that have a high attrition rate. The employees there are unhappy.
Look for companies which have a lot of monotonous jobs (Call centres, customer support).
Any small startup that has been heavily funded will hire in droves and they would need an onboarding process in place.
You get the drill, right?
Make an exhaustive laundry list of tell-tale signs that are lead indicators that a company may benefit from your product.
If you can’t collect this data, buy it. There are companies out there which are collecting data that serve as prospect intelligence for you.
Once the leads have been scored, the ones with high scores should be treated differently (personalised outreach) and the bottom ones should be treated differently (semi-personalized outreach, at scale). In the absence of such lead scoring for outbound, you’d treat all leads as equal and miss the opportunity to engage with the best leads on an authentic and personal manner.
Often, PipeCandy’s users report engagement of up to 50% from top-scored leads and over 15% for the rest that are semi-personalized.
Thinking of doing outbound in 2017?
Go ahead and drop us a note here. We’ll walk you through how PipeCandy helps you do outbound with precision and scale.