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Enable Lead Scoring

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MLWallace
MLWallace

Lead scoring provides a way to quantify and rank marketing leads based on their profile, behavior, and other attributes. It allows companies to prioritize leads that are most likely to purchase. Organizations that implement lead scoring see significantly higher conversion rates, ROI, and sales effectiveness compared to those that do not. Building an effective lead scoring model involves getting sales and marketing teams to agree on criteria, assigning point values to different attributes, testing the model, and continually optimizing it based on results. Done correctly, lead scoring structures the handoff process between teams and improves marketing and sales alignment.

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Enable Lead Scoring with Marketing Automation Mary L. Wallace Director, Client Marketing Services UBM
Lead Scoring is HOT! ? On average, organizations that currently use lead scoring experience a 77% lift in lead generation ROI, over organizations that do not currently use lead scoring. ¨C MarketingSherpa ? Companies that get lead scoring right have a 192% higher average qualification rate than those that do not ¨C Aberdeen Group
Agenda ? Setting the Stage For Lead Scoring ? Business Value of Lead Scoring ? How to Build a Lead Scoring Program that Works for You ? Keys to a Successful Lead Scoring Program
About Me ? Director, Marketing Automation at UBM Tech ? Responsible for the design, development, and implementation of innovative client and marketing campaigns. ? Optimize marketing program performance through the use of strategic marketing models and processes that leverage marketing and sales automation solutions.
Today You Will Learn ? Business Value of Lead ? Dimensions of a Lead Scoring Model ? How to build a Lead Scoring Program that works for you
What is Lead Scoring? ? Technique for quantifying/ranking leads based on profile, behavior, demographics ? Score is used to prioritize potential value of leads / likelihood to purchase ? Lead score ¨C 360 view ¨C Program/Campaign centric view ¨C Product centric
What Does Lead Scoring Look For? Activity Strong Fit Persona Best Fit Persona Poor Fit Activity Poor Fit
Lead Scoring Process Email Campaigns Telemarketing Profile Data Website Interaction Events Form Data 50 pts 75 pts MQL SRL Nurture Inside Sales Campaign
What Happens without Lead Scoring ? Marketing and Sales Cannot Agree on Qualified Leads ? Sales Cannot Find the Qualified Leads ? Quantifiable Feedback Loop From Sales to Marketing is Missing
Business Value of Lead Scoring ? Improve Results of Marketing Efforts ¨C sales conversion rates ¨C sales effectiveness ¨C pipeline health ? Reduce cost/effort of inside sales ? Increase close rates ? Optimize ROI on your lead management efforts
What Should Be Scored? ? Explicit ¨C Lead Source ¨C Demographics (job role, buyer persona, company size, location, department) ¨C BANT questions/Progressive Profiling ? Implicit (Digital Body Language) ¨C Email open/Email Click ¨C Web site ? specific page (+/1) ? Return ¨C Content Interaction ¨C Activity Velocity
Who Should Design the Scoring Model? ? Lead Scoring Quantifies Agreement between Sales and Marketing ¨C What ¡°intel¡± optimizes sales? ¨C When is a lead ready? ¨C What leads are ¡°tire kickers¡± ? Don¡¯t set it and forget it ¨C Learn from Experience ¨C Optimize your program ¨C Build new programs that compliment or are diverse from existing program(s)
Step 1: Get Your Team Together and Define The Goals
Step 2: Select Scoring Dimensions ? Use historical trends, existing analytics to define what criteria should be used ? Both implicit (digital body language) and explicit (profile data) should be included ? Hardest Part of Building a Program ? Good Enough is Good Enough ? Return to Optimize
Step 3: Assign Point Values Dimension Low X Medium X High X ? Determine The ACTIVITY Impact Should Each Lead Source 5 10 15 ¡°Dimension¡± have Web Site on score (Larger Web Page Visit 1 2 5 Numbers have Web Page Visit -1 -2 -10 greater impact) Email Activity Unique Open 1 2 4 Unique Click 1 2 4 Content Consumption ? Use Categories DEMOGRAPHICS Awareness Asset 0 (High, Medium, Job Role Recognition Asset 0 2 5 4 Low) Company Size Asset Consideration 0 4 10 8 Location Preference Asset 0 1 15 2 Industry Justification Asset 0 1 2 ? Define Conversion 20 Velocity Caps -10 10 Convert? SRL/Hot 130 no MQL/Warm 70 no Cold N/A N/A
Step 4: Model It! If a lead¡­ ? who is has a high job role, in a high industry ? that visits my website twice, ? picks up 1 awareness content ? and 2 consideration content ? and opens and clicks in 3 emails (2 high, 1 medium) ? attended a webinar ? Is that a MQL, a SRL, or a lead at the top of the funnel? Note: Historical Trends, Existing Data Analytics will help validate model
Dimension Low X Medium X High X ACTIVITY Lead Source 5 10 15 Web Site Web Page Visit 1 2 52 Web Page Visit -1 -2 -10 Email Activity Unique Open 1 21 42 Unique Click 1 21 42 Content Consumption Awareness Asset 51 Recognition Asset 10 Consideration Asset 15 2 Preference Asset 20 Justification Asset 81 25 Webinar Register 10 Webinar Attend 75 25 1 Velocity -10 0 10 x CALL TOe ACTION 0 S cor Response it y 0 6 20 70 ct iv ct io n BANT A to A BudgetCall 0 8 16 T ics no BA N Authority ograph 0 5 10 e m 130 yes Need D 0 70 N/A 8 16 Timing 0 5 10 vert? N/A Con DEMOGRAPHICS t Ho Job Role SRL/ arm 0 2 4x L/W CompanyM Q Size 0 4 8 Location Cold 0 1 2 Industry 0 1 2x
Step 5: Build it Now! Key Points: ? How/When Enter Lead Scoring Programming ? Build Incrementally to Test Each Module ? Test all Permutations ? Each MAS solutions is different ¨C Example is from Eloqua 10
Update Score Based on Criteria Route Leads based on Conditions Update Score Date Remove Lead from Program
Keys to Success 1. Joint Commitment Between Sales and Marketing ¨C Conversion Points ¨C Hand Off Process 2. Clean Data ¨C Inaccurate Data Produces Off-Target Results ¨C ¡°Re¡±-Score After Data is Updated 3. Measure Performance ¨C Continuous to Refinement/Optimization
Key Takeaways 1. Lead Scoring is not the silver bullet. It is a structured method for defining and qualifying leads. 2. Lead scoring done right will 3. Lead scoring criteria should include both implicit and explicit data points 4. Model and Validate the Lead Scoring Program before Building it out in Your MAS 5. Lead Scoring Should be Continually Reviewed and Optimized

More Related Content

Enable Lead Scoring

  • 1. Enable Lead Scoring with Marketing Automation Mary L. Wallace Director, Client Marketing Services UBM
  • 2. Lead Scoring is HOT! ? On average, organizations that currently use lead scoring experience a 77% lift in lead generation ROI, over organizations that do not currently use lead scoring. ¨C MarketingSherpa ? Companies that get lead scoring right have a 192% higher average qualification rate than those that do not ¨C Aberdeen Group
  • 3. Agenda ? Setting the Stage For Lead Scoring ? Business Value of Lead Scoring ? How to Build a Lead Scoring Program that Works for You ? Keys to a Successful Lead Scoring Program
  • 4. About Me ? Director, Marketing Automation at UBM Tech ? Responsible for the design, development, and implementation of innovative client and marketing campaigns. ? Optimize marketing program performance through the use of strategic marketing models and processes that leverage marketing and sales automation solutions.
  • 5. Today You Will Learn ? Business Value of Lead ? Dimensions of a Lead Scoring Model ? How to build a Lead Scoring Program that works for you
  • 6. What is Lead Scoring? ? Technique for quantifying/ranking leads based on profile, behavior, demographics ? Score is used to prioritize potential value of leads / likelihood to purchase ? Lead score ¨C 360 view ¨C Program/Campaign centric view ¨C Product centric
  • 7. What Does Lead Scoring Look For? Activity Strong Fit Persona Best Fit Persona Poor Fit Activity Poor Fit
  • 8. Lead Scoring Process Email Campaigns Telemarketing Profile Data Website Interaction Events Form Data 50 pts 75 pts MQL SRL Nurture Inside Sales Campaign
  • 9. What Happens without Lead Scoring ? Marketing and Sales Cannot Agree on Qualified Leads ? Sales Cannot Find the Qualified Leads ? Quantifiable Feedback Loop From Sales to Marketing is Missing
  • 10. Business Value of Lead Scoring ? Improve Results of Marketing Efforts ¨C sales conversion rates ¨C sales effectiveness ¨C pipeline health ? Reduce cost/effort of inside sales ? Increase close rates ? Optimize ROI on your lead management efforts
  • 11. What Should Be Scored? ? Explicit ¨C Lead Source ¨C Demographics (job role, buyer persona, company size, location, department) ¨C BANT questions/Progressive Profiling ? Implicit (Digital Body Language) ¨C Email open/Email Click ¨C Web site ? specific page (+/1) ? Return ¨C Content Interaction ¨C Activity Velocity
  • 12. Who Should Design the Scoring Model? ? Lead Scoring Quantifies Agreement between Sales and Marketing ¨C What ¡°intel¡± optimizes sales? ¨C When is a lead ready? ¨C What leads are ¡°tire kickers¡± ? Don¡¯t set it and forget it ¨C Learn from Experience ¨C Optimize your program ¨C Build new programs that compliment or are diverse from existing program(s)
  • 13. Step 1: Get Your Team Together and Define The Goals
  • 14. Step 2: Select Scoring Dimensions ? Use historical trends, existing analytics to define what criteria should be used ? Both implicit (digital body language) and explicit (profile data) should be included ? Hardest Part of Building a Program ? Good Enough is Good Enough ? Return to Optimize
  • 15. Step 3: Assign Point Values Dimension Low X Medium X High X ? Determine The ACTIVITY Impact Should Each Lead Source 5 10 15 ¡°Dimension¡± have Web Site on score (Larger Web Page Visit 1 2 5 Numbers have Web Page Visit -1 -2 -10 greater impact) Email Activity Unique Open 1 2 4 Unique Click 1 2 4 Content Consumption ? Use Categories DEMOGRAPHICS Awareness Asset 0 (High, Medium, Job Role Recognition Asset 0 2 5 4 Low) Company Size Asset Consideration 0 4 10 8 Location Preference Asset 0 1 15 2 Industry Justification Asset 0 1 2 ? Define Conversion 20 Velocity Caps -10 10 Convert? SRL/Hot 130 no MQL/Warm 70 no Cold N/A N/A
  • 16. Step 4: Model It! If a lead¡­ ? who is has a high job role, in a high industry ? that visits my website twice, ? picks up 1 awareness content ? and 2 consideration content ? and opens and clicks in 3 emails (2 high, 1 medium) ? attended a webinar ? Is that a MQL, a SRL, or a lead at the top of the funnel? Note: Historical Trends, Existing Data Analytics will help validate model
  • 17. Dimension Low X Medium X High X ACTIVITY Lead Source 5 10 15 Web Site Web Page Visit 1 2 52 Web Page Visit -1 -2 -10 Email Activity Unique Open 1 21 42 Unique Click 1 21 42 Content Consumption Awareness Asset 51 Recognition Asset 10 Consideration Asset 15 2 Preference Asset 20 Justification Asset 81 25 Webinar Register 10 Webinar Attend 75 25 1 Velocity -10 0 10 x CALL TOe ACTION 0 S cor Response it y 0 6 20 70 ct iv ct io n BANT A to A BudgetCall 0 8 16 T ics no BA N Authority ograph 0 5 10 e m 130 yes Need D 0 70 N/A 8 16 Timing 0 5 10 vert? N/A Con DEMOGRAPHICS t Ho Job Role SRL/ arm 0 2 4x L/W CompanyM Q Size 0 4 8 Location Cold 0 1 2 Industry 0 1 2x
  • 18. Step 5: Build it Now! Key Points: ? How/When Enter Lead Scoring Programming ? Build Incrementally to Test Each Module ? Test all Permutations ? Each MAS solutions is different ¨C Example is from Eloqua 10
  • 19. Update Score Based on Criteria Route Leads based on Conditions Update Score Date Remove Lead from Program
  • 20. Keys to Success 1. Joint Commitment Between Sales and Marketing ¨C Conversion Points ¨C Hand Off Process 2. Clean Data ¨C Inaccurate Data Produces Off-Target Results ¨C ¡°Re¡±-Score After Data is Updated 3. Measure Performance ¨C Continuous to Refinement/Optimization
  • 21. Key Takeaways 1. Lead Scoring is not the silver bullet. It is a structured method for defining and qualifying leads. 2. Lead scoring done right will 3. Lead scoring criteria should include both implicit and explicit data points 4. Model and Validate the Lead Scoring Program before Building it out in Your MAS 5. Lead Scoring Should be Continually Reviewed and Optimized