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About: 5 Key Steps in Developing Your Own Lead Scoring System Why do you need to score your leads? Not all leads are created equal. Some of them may have very high interest over your products and services. Thus, they should be given higher priority. Others, on the other hand, may express the same sentiment as the first group. The problem is that they don’t see any particular need of what you’re offering right now. Then, you have leads that should have not been yours after all. They may have been misled by your sales letters or opt-in lists or that they may have completely changed their minds along the way. Their immediate needs have already been met. The Best Lead Scoring System There are plenty of lead scoring systems that you can follow. But you must realize that not all of them can be truly effective. Some of them may not work because your business has a completely different need. What you can do, though, is to come up with your own using the guidelines below: 1. Come up with criteria. The first thing to do in coming up with your own lead scoring system is to develop the factors that will help you determine which of them are of great value and which ones are not. One of the best ways is through customer behavior. If you have online leads, for example, you can make use of your lead analytics software. It will tell you where the leads are coming from, how long they stay in your website, the pages they visited, or how many times they visit your page. These data can be beneficial in identifying the level of interest of your leads over your products and services. Nevertheless, make sure that you can employ the help of your entire sales team. Since they are the ones who get to deal with customers and prospects, they already have a good idea of creating customer profile. 2. Weigh all your attributes. Not all of the factors will be very important to you. Some of them are highly indicative of the buying intent of the prospect, while others don’t. To make it easier for you, therefore, you need to assign values to them. It doesn’t matter if it’s numbers or letters. The most important thing is that they stand for something. For instance, you may give those important criteria the highest value and the least important ones the lowest one. 3. Determine their rates. When you have already identified the weights for all attributes, it’s time to identify the percentage of your hot leads. Normally, 20 percent and up will already do well. Then, you need to add up all the weight for your attributes. If the total highest score is 50, your sales leads should have a score of around 40 and up, before they can be considered as high value. Those who don’t meet along this range can be placed into your lead nurturing program. 4. Know what to do with the leads. When you have already categorized all your leads, it’s time to identify what to exactly do with them. Normally, those who are in the hot leads should be dealt with immediately. They are known for their very high conversion rate. There’s little to no amount of persuasion that has to be done. This could be because the product or service is something that definitely meets their needs. You also have to think about those who may belong to the lead nurturing program. What kinds of marketing strategies should you implement with them? Lead scoring needs to be monitored at all times. Sometimes the factors change as the needs of potential clients change from time to time. Unless you are going to keep up, your system may eventually stop working.
From: Boston, MA Since: April 1, 2020
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