How Lead Scoring can Increase Sales

What is Lead Scoring?

Lead scoring is the process of assigning values, often in the form of numerical points, to each lead you have. You can score based on the professional information they’ve given you, and how they engage with your business or site. You can look at previous leads and their information to see which attributes indicate that someone is a good fit for your product. Create models that rate consumer compatibility based on a point range of 0 to 100. Six models you can create based on data you collect from those who interact with your business are demographic information, company information, online behavior, email engagement, social engagement, and spam detection.

How to increase sales

The best way to find out what matters most is to talk to your sales team, your consumers, and look at your analytics and run reports. Sales reps know the type of people who went from leads to customers based on their past experience, so talking to them can give you a good general idea of which marketing pieces work best. Talking to consumers who have gone through the process is a good way to find out what was responsible for getting them to buy from you. You will want to run an attribution report to see which marketing efforts lead to conversions throughout the funnel. Contacts reports can also give you information about which activity led to more contacts and revenue. There are three ways to calculate lead scoring; Manual, Logistic Regression, and Predictive Lead Scoring. With Manual, you calculate lead-to-customer conversion rate, then choose different attributes customers you believe were high quality leads, and then calculate the individual close rates. Logistic Regression involves employing a data mining technique. Predictive uses machine learning to go through thousands of data points and pick the best one so that you do not have to.

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