Scoring Nurtured Leads is Good for Business
Please note: Nurtured leads are scored leads. Why nurture them if you’re not going to keep track of them?
Lead scoring is the act of measuring the digital interaction of visitors (a.k.a. leads, prospects, customers, consumers, etc.) with your website and company assets. Lead scoring is a tactic used in the lead nurturing process of marketing. So, what does that mean?
Before we get into the details of what lead scoring is, let’s first identify why we care. It’s pretty simple: lead scoring makes us smarter and more efficient.
Nurtured leads make 47% larger purchases than non-nurtured leads.
The Smart Part
Lead scoring allows you to know more about the people visiting your website, discover the problems they have and the solutions they’re looking for, and measure the content, messaging and tactics you’re using to communicate with them. This allows you as a business to focus on who to talk to with, what information works for where they are in their buying process – while marketing more efficiently. In fact, companies that excel at lead nurturing generate 50% more sales ready leads at 33% lower cost. (Source: Marketo)
Lead scoring allows you to know what your buyer is interested in – both B2B and B2C – ensuring you can deliver additional information they could use to confirm their interest and secure their purchase. This allows you as a business to focus on who to talk to with what information works for where they are in their buying process – while marketing more efficiently. In fact, companies that excel at lead nurturing generate 50% more sales ready leads at 33% lower cost. (Source: Marketo)
Nurturing leads helps score leads – the two are almost one-in-the-same. While you can nurture leads without scoring them, it’s quite difficult to score leads without nurturing them. Marketing automation makes nurturing easier and more efficient by delivering your messages and information on a timely manner or on a decision-based cadence. Furthermore, automation allows you to measure your campaigns and tactics ROI, delivery rates, usage and effectiveness and more.
- Lead nurturing emails get 4-10 times the response rate compared to standalone email blasts. (Source: SilverPop/DemandGen Report)
- Companies that automate lead management see a 10% or greater increase in revenue in 6-9 months. (Source: Gartner Research)
It’s incredibly important for sales and marketing to align for lead scoring because it allows them to not only to identify the buying cycle and understand where the buyer is within the cycle so that they receive the most appropriate peiece of communication at the right time. Sales and marketing need to agree on now only the value of a piece of content, but also the value of the information leads are giving when they fill out a form. What’s an SVP of Product worth? A lot for some companies, less for others. It all has to do with the 7-13 people it takes at a major company to make a buying decision. Once you identify those prospects, you can assign their value. – It takes an average of between 7 and 13 touches before a sale is made. (HubSpot)
- Identify your ideal customer by creating a persona for each target market. Are they on your “BANTwagon? (Budget, Authority, Need, Time).
- Relevant emails drive 18 times more revenue than broadcast emails. (Source: Jupiter Research)
- Create messaging, content and collateral that informs and describes what your product does and who’s it for.
- Personalized emails improve click-through rates by 14%, and conversion rates by 10%. (Source: Aberdeen Group)
- Identify and align both your buyer’s journey and your sales cycle and assign specific messaging, content and collateral to each stage.
- Mapping the customer experience and use of personalized content are deemed the most effective tactics for optimizing marketing automation. (Ascend2, 2018) (Source: https://www.hubspot.com/marketing-statistics)
- Assign worth to each prospect criteria (job title, company size, location, years of experience, etc.) and each website page (product, contact us, pricing, careers) and piece of content (blog, webcast, demo video, one-sheet, case study, etc.)
- Companies with mature lead generation and management practices have a 3% highersales quota achievement rate.
- Setup a process for marketing to pass leads to sales based on pre-set milestones or achievements that yield the desired benefit – form fill, number or demo videos, contact request, etc. This eliminates the need for salespeople to prospect and gives them more time to concentrate on leads that are looking to buy.
As you go through these processes, your sales and marketing teams will learn more about your company, what they’re selling and to whom they’re selling it. They’ll also recognize how the sales cycle and buyer’s journey align and intersect and what tactics and content work best in each step of the process. It will also allow the two teams to measure effectiveness of campaigns, content and lead interaction and identify what works and more importantly what doesn’t work. The process allows teams to identify when a lead is ready and should be passed to sales with a digital history and story of what your prospects have interacted with conveying what they’re looking for.
- Companies that excel at lead nurturing have 9% more sales repsmaking quota. (Source: CSO Insights)
- Nurtured leads produce, on average, a 20% increase in sales opportunitiesversus non-nurtured leads. (Source: DemandGen Report)
- Nurtured leads make 47% largerpurchases than non-nurtured leads. (Source: The Annuitas Group)