Interest in scoring for marketing strategies has gained momentum, reflecting the rise in the adoption of automated sales and marketing technologies. According to Aberdeen Research , companies that implement lead scoring effectively have an average lead approval rate that is 192% higher than those that do not.
Despite its growing popularity in marketing automation, this strategy can still be hindered by several factors, such as insufficient information, poor planning, inaccurate technology selection, static models, and other obstacles.
Manual scoring vs. Scoring automation
Implementing a lead scoring strategy can elevate conversions by enabling you to pinpoint and prioritize the most qualified leads, personalize marketing efforts, and streamline sales processes. This culminates in a higher conversion rate and a unified, streamlined marketing and sales funnel, saving time and resources.
Naturally, companies’ first approach to marketing strategies with lead scoring is to do it manually. Here, a marketing or sales expert assigns scores based on their knowledge of the lead’s interactions with the brand.
This approach could be effective in certain situations (minimal operations, very low volume of leads, specific cases of Account Based Marketing for products with extremely complex sales processes, etc.). However, doing it manually can be time-consuming and subjective or prone to errors such as biases and inconsistencies.
On the other hand, an automated approach is based on an algorithm or model that takes information from various sources (interactions with the website, visits to specific landing pages, email open rate, etc.). This approach is more efficient, consistent, and highly scalable for operations generating a large lead volume. Automated lead scoring is objective, data-based, and minimizes the potential for human error.
While automation certainly streamlines the process, it still requires monitoring and optimization to ensure accuracy and effectiveness. It can’t simply be switched on as a machine that doesn’t require customization or adjustments based on business objectives, operational and marketing and sales teams’ needs.
What technology should I use to automate my lead scoring process?
When choosing the right technology for using scoring for marketing automation, you must consider your specific needs and objectives. In addition to the cost of the software, there are other factors to take in mind for its success: the features it provides, its interface and ease of use, or the possibility of integrating with other tools.
Some of the options available in the market to implement lead scoring are:
Marketing automation software
Several platforms focus solely on marketing processes and have integrated scoring functionalities to assign scores easily to leads and customers, enabling marketing actions such as email campaigns or being placed in automated workflows.
Customer Relationship Management (CRM) systems
A CRM is a rich data source for lead scoring. Recording all lead’s commercial interactions provides the necessary information to score automatically. It is also a sales team-powered platform that enables them to focus on the most promising leads.
Specialized software for scoring
There are tools available on the market that specialize solely in lead scoring. If your marketing automation software or CRM lacks a scoring tool, or it’s insufficient, this solution can be connected to them to fulfill the function.
There are software solutions that offer marketing automation, CRM and lead scoring in one platform. These all-in-one solutions are designed to work together seamlessly, offering several advantages over using separate tools for each function. They eliminate the need for complex integrations or custom development, making driving business growth easier and more efficient.
An all-in-one tool also streamlines your processes by allowing you to manage all marketing and sales activities for a potential customer in one place. This cuts time, effort, and resources needed to manage multiple tools and systems. By integrating with the aforementioned tools and others, like Help Desk, they can even generate predictive models (the probability of that lead closing or increasing their score).
Why should you give automated lead scoring a chance?
Lead scoring for marketing automation brings multiple benefits, including saving valuable time and effort, aligning sales and marketing, achieving a data-driven approach, scaling operations, and boosting conversion rates.
However, it is crucial to approach it with care and ensure using the correct scoring model, appropriate rules, and thresholds tailored to your business. Regularly reviewing and adjusting the scoring approach based on data and the outcomes is equally critical to optimize performance continually.
Remember, the technology you choose plays a critical role in your strategy. Implement the one that best fits your needs and allows for intelligent optimization of processes. This will help you save resources and time in return.
Strategic planning and thoughtful execution, paired with the right technology, can transform automated lead scoring into a valuable asset in your sales and marketing toolkit. This essential tool will help you generate more high-quality leads that convert into sales.
* Aberdeen Group, Lead Prioritization and Scoring: The path to higher conversion