One of the most effective way that help to identify when a lead is ready to buy!
We all know how to generate leads and put them into database with proper segmentation. But along with the whole customer journey, timing is extremely important. Know when is the time that leads are ready to buy and when is the best time for sales person to follow up is vital important that helps to continue the journey.
Let’s say, if you plan to decorate about our home with some new furniture and have conducted some research online, but you hold off the purchase for now. Then you know what will happen — Sales person is going to contact you. That might be welcomed at this stage.
What if you are further along the buying process. You’ve conducted research, compared with prices in different online stores even downloaded sales brochures, wouldn’t you become more willing to communicate with sales person?
Here let’s introduce a model that help is with it.
This is identifying when a lead is ready to buy and assigning a value to that lead based on their information and behavior on your website.
Agree on a definition
Once everyone on the same page, sales will only receive high quality leads and marketing will provide fewer, but higher quality leads.
Example of qualifier could be a decision-making job title such as VP or above or a list of the top five company industries that align best with your business.
Through your online forms or other great sources like Linkedin Profiles.
Examples of demographics could be years of experience, length in their current position or their budget lounge.
Then you will know wether that person is a decision maker.
Determine buying stage
Are they only consider or ready to buy?
Here are some examples if they are ready to buy: fill out a contact is form, request a free trail, search by company name or view the pricing page of your company.
Now we have all the information we need and ready for our scoring model. There are lots of model out there, and I will show one that I learned from Lynda.com which can help us started.
- Input your criteria
- Use a simple point system ranging from one to ten
- Assign a score to all criteria
- The spreadsheet will auto populate the scoring system
Lead scoring can be done manually for small business, but since the behaviors of leads can be changed based on their stage in the customer journey. So improve your system to an automation one will help you to manage your data current.
After you developed your Lead Scoring Model and launched, make sure to consistently evaluate and adjust. Your criteria may evolve over time and Lead Scoring Models are optimized over time with learning.
An effective Lead Scoring model will provide you with insight to understand what buying stage leads are in, understand when they’re ready to purchase, and when you should follow-up.