Estimating the probability of conversion 4 A few tips for setting up lead scoring Share on: Lead scoring consists of calculating and assigning a score to each of your “leads”, i.e. prospects. In B2B, the primary objective of marketing teams is to generate leads for sales teams. But if all prospects are obviously not equal, it is sometimes difficult to identify the marketing actions that generate the best leads. Lead scoring creates an objective common ground between sales & marketing teams, allowing marketers to better assess the performance of their actions (rather than relying solely on the number of leads generated), and better prioritize the prospects to contact, and therefore improve performance. Lead scoring: how does it work?
The score is generally built on two dimensions
The potential of the prospect: the idea is to evaluate the income that this prospect will be able to generate over his entire life if he becomes a customer. We speak of “Lifetime Value” in English, to Bulk SMS Netherlands designate the value (in euros) of the customer over the entire duration of his quality of customer of the company. For businesses that operate on subscription models, it’s pretty straightforward to assess. For service companies, it is more difficult. We then think more in terms of ranges, or maximum potential. The degree of intention: the idea here is to evaluate the probability of conversion (and the delay before converting to a lesser extent), in VO the “Likelihood to close”.
If it may seem a little counter-intuitive
We will seek to prioritize the prospects who have the greatest probability of converting: the commercial action is much more efficient on more interested prospects than on curious ones. We will instead BF Leads offer lead nurturing sequences with marketing automation solutions to cultivate the interest of prospects with a weaker intention, and to become the reference in their minds on the subject. Estimating the potential of a prospect Depending on the industry and the marketing strategy, the potential of the prospect is more or less easy to estimate. We use two main methods to estimate it: Personas and the Ideal Customer Profile: the idea is to define a few personas according to their income potential. Find a metric related to income: the idea here is to approach the potential with concrete data on your customer.