According to Sirius Decision, Lead Scoring is defined as
“A methodology used to rank prospects against a scale that represents the perceived value each lead represents to the organization. The resulting score is used to determine which leads a receiving function (e.g. sales, partners, tele prospecting) will engage, in order of priority.”
Companies can score leads by assigning points, implementing Rankings like A, B, C and D or using terms like ‘Hot’, ‘Warm’ and ‘Cold’
The Lead scoring helps companies know whether prospects needs to be fast tracked to sales or developed with Lead Nurturing
With exclusive amount of information available online, most buyers prefer to do research before they get in touch with sales representative.
Today, Buyers do not approach any sales representative unless they have some information about the product/ service. Hence, sales reps need some system that can help them identify the list of potential buyers that have engaged well with their products/service in the past and are now ready to approach them.
The objective of lead scoring analysis is to help drive more revenue through sales in accelerated cycles. Lead scoring helps a marketing team about leads to nurture and that need immediate follow up and engagement with sales or channel partners.
Lead scoring when employed – it can provide multiple benefits that all impact revenue generation. Firstly, lead scoring helps marketing team to evaluate and improve the effectiveness of a campaign and content strategy.
Scoring helps sales focus on the priority opportunities that have the best chance of closing in the shortest period of time. Scoring impacts how effective sales forecasts are as well.