Use Lead Scoring to Nurture Leads & Improve Funnel Efficiency
When you think about the typical marketing funnel, what do you envision? Most marketers think of several leads at the top of the funnel, which they steadily remove until only customers remain in the narrower part. However, successful businesses tend to have funnels with wider middles and bottoms. These efficient funnels will attract and close customers quickly, reducing customer acquisition cost. Building an efficient funnel can also help you focus only on leads who will likely make a purchase.
If your goal is to improve funnel efficiency, consider incorporating lead scoring models into your nurturing campaign. Using lead scoring software can be especially beneficial for campaigns that primarily focus on email. In this article, we’ll explore what it means to score leads. We’ll also reveal why your business should include this type of system in your marketing efforts.
What Does Lead Scoring Mean?
According to venture capitalist Jason Lemkin, the difference between the top 1 and 10 percent of salespeople is their efficiency. Lemkin states that those in the top 1 percent tend to maximize their time and prepare before going into every deal.
Scoring leads will help your business send only the most qualified leads to your sales team. While there are multiple ways to implement lead scoring models, all of them use algorithms to qualify leads. These algorithms are created using marketing automation software like HubSpot or Infusionsoft. No matter what method you choose, using an algorithm can automate the tedious task of sorting leads. This makes your funnel more efficient while improving the customer experience.
Remember, scoring leads isn’t just for businesses with in-house sales representatives. All businesses can implement lead scoring best practices when analyzing and sorting leads. Once you identify the right leads, your marketing team can begin to encourage conversion.
The more your brand engages with a prospect, the more likely it is that he or she will make a purchase. This is the belief behind engagement-based workflows, which are used by companies to sort leads into the right email campaigns. Customers receive content aligned with their stage in the sales journey. Those who engage less usually receive top-of-funnel content, which includes blog posts or infographics. However, highly engaged customers may receive bottom-of-funnel content like how-to videos or product demonstrations.
As a contact increases engagement with your brand, he or she moves from one workflow to the next. While you might think that only website visits indicate interest, social media also plays an important role in measuring engagement. Analyzing social media engagement is a useful tool for brands hoping to attract younger customers.
Segmented Workflows & Fit Score
Another way to approach scoring leads is to focus on a lead’s “fit.” Known as a “fit score,” this measurement reveals how well a potential customer fits your business’ ideal customer persona. The fit score is typically graded from “A” to “F.” Leads scoring between “A” and “C” usually make it to the sales team. If leads score on the lower end of the spectrum, you nurture them until they score high enough.
It’s widely known that email personalization and segmentation improves email marketing success. Creating workflows specifically for those with a particular fit score is another method of providing customers with tailored content. Using fit scores to design a workflow can help you improve your messaging while also increasing productivity.
Reach the Right Customers with Lead Scoring Best Practices
Brands and business executives interested in improving funnel efficiency should consider implementing a lead scoring program. Once the system is in place, marketers can create lead nurturing programs and tailor content to those in multiple segments. Lead-scoring systems allow you to zero in on the right customers. The result is a more efficient funnel which also increases customer satisfaction.