What is lead scoring?
Lead scoring within marketing refers to ranking those prospects who interact with your communication channels, in order to measure their sales-readiness. Therefore, lead scoring tries to measure how close your leads are to convert. Lead scoring commonly uses a points system to achieve this, and it also allows you to segment your contact list. By doing this, you nurture them with targeted marketing material and custom content.
Therefore, lead scoring is a super helpful tool to take into account when planning your business strategy. According to statistics, more than 65% of successful marketers consider that lead scoring was a determining factor for the success of their campaigns. Hence the importance of implementing this model.
How to start a lead scoring?
Before implementing a ranking system for your prospects, you should bear in mind that your point of reference is all of your current customers. So you should draw a picture of your ideal customer.
We mean that you identify characteristics in common that those customers share. We can segment these characteristics into 2 factors: Profile and behavior. The first one refers to demographic and identity information about the customer: location, age, type of business, size of business, department, job title. The second refers to actions they perform by using your communications channels: the pages they viewed, if they read your emails, if they downloaded any whitepaper, or if they subscribed to your newsletter.
Once you compile important characteristics of your buyer persona, you must assign a percentage for those characteristics that have more weight. In other words, you make a list of those that repeat the most. Lean on your sales team and use the reports and analytics you currently have to obtain as much information as possible on this. Also, take into account the marketing content that helped with the conversions: If a specific email was a determining factor, you assign a higher value to that email than to the others. Once you have your percentages, you assign a value to each factor. Finally, you assign a final value to your definition of the ideal customer, and from there you establish your ranking levels to distinguish prospects that are very likely to buy from those that still need nurturing.
How to implement a lead scoring system?
Once your analysis stage is finished, you’ll have your guidelines to start your lead scoring system. To do this, it’s almost a requirement to have automation software, since scoring your leads manually would be inefficient and inaccurate; It would take a long time to carry out the analysis of your database and the analysis of your tracking tools manually, and results would be prone to errors. For that reason, marketing automation software solutions were created, so they can carry out repetitive tasks like these for you.
Which software to use?
There is a handful of software solutions that allow you to carry out your marketing automation efficiently. We work with several of these software platforms but there is one, in particular, that’s given a lot to talk about lately. And we mean it in a positive way.
We are talking about Maropost, a cloud platform that lets you manage your marketing automation through multiple channels. With Maropost you can create and manage your email, SMS, and social networks campaigns. You can also use tracking for those campaigns and moreover, it lets you build forms and special content for your website. One of the advantages that Maropost has over other tools is that it includes 3 fundamental parts in your marketing strategy: Database management, marketing automation, and the content creation part.
On Maropost, you can set “journeys”, which are automation flows that you configure based upon triggers and actions. This functionality is very versatile and powerful since you can practically automate any stage of your marketing process. When you have defined your lead scoring parameters, you can create one or more journeys that allow you to carry out the process of segmenting your leads.
How to create a lead scoring automation
Creating journeys in Maropost is very simple. Its interface allows you to establish rules and actions for each journey you create. By following these simple steps you can start giving life to your lead scoring system, which, along with other Maropost functionalities, will make your lead conversion and your ROI to skyrocket.
First, you’ll need to have a custom field created for your contacts. You can call that field “engagement score” so it will be populated based on the triggers you set in your automations. Please consider this field will be modified on each phase of your automation where you need it updated. Consider planning with great care your lead scoring system so the field will only be updated when needed.
1.-Go to your Maropost dashboard and click on the “AUTOMATION” tab. Look for the journey option and click on it to open your current journeys. It’ll be empty if you don’t have any journey yet.
2.- Click on the “NEW JOURNEY” button to create a new journey. Give your journey a name. We don’t need an end date since this lead scoring system won’t have one.
3.- Click “Enabled Journey” to enable your journey.
Using the Journey Builder
You can use the drag and drop method for moving the boxes into your automation canvas, or you can simply click the box you need, and then it’ll appear at the top.
1.- In this example, we are going to give a customer who subscribed to receive information regarding eBooks. We’re going to select the “New Subscription” trigger.
2.- Select the list that applies to your trigger. In this case, we are going to select the “eBook customers” list. Then, click “Save”.
3.- We want to assign 200 points for those users who have subscribed to our eBook list. So we are going to use the “Change Contact Field” action to assign 200 points scoring for each contact that subscribes to that list.
4.- Then, we can finish this journey. Each contact that subscribes to your list will receive 200 points so it can be measured when setting other automations.
Add a trigger for Qualified Leads
You can also add a journey so it triggers certain actions when leads reach a level considered as qualified.
1.- When you are creating your journey, look for the “Contact Field Updated”. Look for your score field and click on “save”. This will always check the score field when that field has been updated.
2.- We are going got add a filter of yes/no. It will check the field we previously set against a segment we previously created. That field segments our lists of contacts for those users who have more than 5000 points in the score field. We look for our required segment, in this case, “Sales Qualified Lead”.
3.-Then it will display yes and no conditionals. There we need to put the actions that apply to our journey.
4.- We’ll use the “Send Email” action for those contacts who are sales qualified. We can send them an email that will try to make the conversion for those users.
5.- We’ll use the “End Journey” action for those contacts that are not sales qualified.
That’s it. That’s how you can start your lead scoring process by using the powerful Maropost Journey builder. Remember to analyze well how you can implement your lead scoring by using custom fields for your contacts. bear in mind that you’ll need to segment your lead scoring points so they are not overwritten. If you need help, remember that at DigitalME, we can give you advice, and help you implement your lead scoring automations or any digital marketing system through our managed services. If you’re interested don’t hesitate to give us a call, and we’ll reach to you as soon as possible.