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3 minute read
If your sales team is spending too much time on the wrong leads, it’s time to get more organised. Lead scoring can be a game-changer for any business as it will help you focus on leads that are most likely to convert into paying customers. When you know which leads are worth your time, you’ll find yourself generating more revenue with less effort. Here are seven ways that lead scoring can turn your company around.
1. Identify Your Ideal Client
Every business has its unique requirements, offering different products and services to suit different needs. Your ideal client will vary from company to business, but the most important thing is that you know who they are and can identify them when a lead comes in. To generate leads that are most likely to convert into paying customers, you need to ensure that all the collected information is relevant. It will help you target the right leads, saving time and money on contacting people who have no interest in what you’re offering.
2. Identify Which Prospects Are Worth Your Time
Without the right scoring system in place, it’s easy for all of your leads to become a high priority. It means that you may find yourself chasing or prospecting unqualified prospects or wasting time on low-value deals. You need a scoring system in place so that only the most promising, qualified and valuable leads enter your sales pipeline. Only once these top quality deals have been identified should they be pursued.
3. Get More Deals In the Funnel
Typically, only around 30% of your leads will end up in your funnel. Of these, you can expect that only 20-30% of deals will progress to closing. By implementing a perfect scoring system, you can identify which leads are worth pursuing and automatically weed out anything that meets the criteria. It ensures that you’re only working with solid prospects that are more likely to close.
4. Concentrate on Quality CRM (Customer Relationship Management)
With a customised lead scoring system in place, you can monitor successful leads and isolate them for follow-up. Use the information to refine your marketing campaign so that more quality leads enter your pipeline. It means that your sales team will be able to focus on closing deals from up-and-coming prospects rather than wasting time on anything unlikely to close. It all enhances quality CRM.
5. Improve Campaign ROI
If you’re working with a well-organised lead scoring system, you will categorise your leads according to their likelihood of closing. It allows you to focus on the most promising leads so that you can concentrate on generating revenue instead of wasting energy on low-quality leads. You’ll also be able to monitor the ROI of your campaigns and adjust them accordingly so that you’re always working towards a positive return on investment.
6. Define Your Sales Process
For a scoring process to work correctly, the sales team needs to know precisely how it works. It means that you need a clear idea of your sales process and how each step contributes towards closing a deal. Once the lead scoring is defined, the sales team will know their expectations when receiving a specific type of lead. Frequently discuss the lead scoring process and update when necessary to ensure it remains relevant.
7. Lead Management
All businesses benefit from better leads, but only the leads your sales team act on are truly valuable. With a well-organised lead scoring system in place, you can monitor which prospects are most likely to turn into paying customers and ensure that your sales team only pursues the best opportunities. It means that you can quickly identify which deals have progressed to close within a specific timeframe, giving your team more visibility. Lead scoring also helps you to monitor the progress of campaigns so that you can adjust them accordingly.
Conclusion
Lead scoring helps you concentrate on quality leads so that every deal is worth pursuing. It doesn’t matter what business you’re in or which industry you work in; lead generation can sometimes be challenging. With a sound scoring system in place, you can ensure that your sales team is working with the best possible prospects and closer to closing more deals.
Score Like a Rockstar
Get Your FREE eBook Guide to Lead Scoring
If you’re like many small business owners we’ve worked with, you have leads, but you’re having trouble making sure you’re spending your time and resources on the ones most ready to buy. Nothing is more frustrating than wasting energy on cold leads.
Part of the problem is that your marketing efforts may not be bringing the best leads to you and your team. It’s a common problem. Lead scoring is a feature of marketing automation and customer relationship management (CRM) software that enables you to understand how your customers are interacting with you completely.
Download this eBook, and you’ll discover:
- The basics of lead scoring
- How to get to know your target customer
- How to map your sales process
- How to know when a lead is ready to buy
And more…
