It has been noticed that lead generation is usually long and tedious process. And, also there is no quick and easy way out of it. The process becomes all the more involved if the product/service offered is complicated in nature. It means that time and effort needs to be spent on lead generation and also every lead generated should undergo proper evaluation. If this is not done in the right way, one might end up spending lot of money along with efforts on the wrong leads that won’t be generating any sales for you.
To find out which leads have the potential to bring in sales and hereby manage leads in an efficient manner, usually companies using CRM tool uses the ‘lead scoring’ method. In this piece, we will throw light on some of the time tested methods by which companies have successfully carry out lead scoring and successfully lower the lead generation costs greatly.
Defining lead scoring
It is considered as one of the ways to rank your existing and potential customers both in regard to their likelihood to display certain type of behaviors for example opting for a new purchase, open to cross sell offer, etc. This is considered as an essential feature for prioritization of effort and work on the valuable opportunities.
It has been noticed that lead scoring helps to find those clients who are interested in you and are also ready to opt for purchasing. It also allows you to decide which of these clients can be profitable for you and how soon you plan to get in touch with them. Higher the score means the client’s engagement level is high and is most likely to opt for a purchase.
The scoring can be done one the basis of number of dimensions such as –
- Location and industry
- Client behavior such web page visits, opened emails, visits to events.
- Scoring on the basis of products/services.
How to make lead scoring work for CRM
So, the big question which arises now is that if it is possible to make lead scoring work in a CRM. When the concept of lead scoring is used in a CRM tool, its functioning becomes all the more effective. All you need to do is just define the scoring rules and you are all set to go.
An effective CRM lets you score leads or contacts on the basis of number of criteria are such as web traffic, opened emails, clicked through links, etc.
As the natures of businesses of two companies are never same, hence defining the lead scores can be carried out on the basis of your own rules. It is possible to define the number of points to be given, which gives continues ranking to your leads or contacts allowing the company to direct the much needed resources towards them.
Why one should never use pre-defined lead scoring template
If you are new to the concept of lead scoring, it is advised that you take a close look at the available templates in the Internet. It is believed that blindly using one a pre-defined one for managing the leads could be a mistake. It is always better to understand that every business is unique in its approach and no ready-made template would be suitable for you. Discussing the lead scoring parameters, using own ratings that fits the business is always a better idea.
Regularly evaluating the lead scoring techniques
After you have found your own lead scoring method, it is important to keep a close track of how well it is helping you and your business. If it is not able to give the desired results, then it definitely requires further fine tuning. It is always better to keep track of the leads which are converting into clients apart from updating the parameters as frequently possible as markets and so does consumer expectation evolves with time. There are organizations that bring changes in their lead scoring methodology on quarterly and yearly basis.
Conclusion
It is believed that understanding the clients’ behaviors and web activity, one can decide their interest level in you and your products/services apart from throwing light on your interest in them. When all these factors are successfully combined, it is possible to stress on the available resources and the best opportunities available.
Defining lead scoring
It is considered as one of the ways to rank your existing and potential customers both in regard to their likelihood to display certain type of behaviors for example opting for a new purchase, open to cross sell offer, etc. This is considered as an essential feature for prioritization of effort and work on the valuable opportunities.
It has been noticed that lead scoring helps to find those clients who are interested in you and are also ready to opt for purchasing. It also allows you to decide which of these clients can be profitable for you and how soon you plan to get in touch with them. Higher the score means the client’s engagement level is high and is most likely to opt for a purchase.
The scoring can be done one the basis of number of dimensions such as –
- Location and industry
- Client behavior such web page visits, opened emails, visits to events.
- Scoring on the basis of products/services.
How to make lead scoring work for CRM
So, the big question which arises now is that if it is possible to make lead scoring work in a CRM. When the concept of lead scoring is used in a CRM tool, its functioning becomes all the more effective. All you need to do is just define the scoring rules and you are all set to go.
An effective CRM lets you score leads or contacts on the basis of number of criteria are such as web traffic, opened emails, clicked through links, etc.
As the natures of businesses of two companies are never same, hence defining the lead scores can be carried out on the basis of your own rules. It is possible to define the number of points to be given, which gives continues ranking to your leads or contacts allowing the company to direct the much needed resources towards them.
Why one should never use pre-defined lead scoring template
If you are new to the concept of lead scoring, it is advised that you take a close look at the available templates in the Internet. It is believed that blindly using one a pre-defined one for managing the leads could be a mistake. It is always better to understand that every business is unique in its approach and no ready-made template would be suitable for you. Discussing the lead scoring parameters, using own ratings that fits the business is always a better idea.
Regularly evaluating the lead scoring techniques
After you have found your own lead scoring method, it is important to keep a close track of how well it is helping you and your business. If it is not able to give the desired results, then it definitely requires further fine tuning. It is always better to keep track of the leads which are converting into clients apart from updating the parameters as frequently possible as markets and so does consumer expectation evolves with time. There are organizations that bring changes in their lead scoring methodology on quarterly and yearly basis.
Conclusion
It is believed that understanding the clients’ behaviors and web activity, one can decide their interest level in you and your products/services apart from throwing light on your interest in them. When all these factors are successfully combined, it is possible to stress on the available resources and the best opportunities available.
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