Accelerate your funnel
Time is precious. No more so than in sales. Shock figures suggest that sales teams only spend 39% of their working week on role-specific tasks i.e. selling . The matter is further compounded in the B2B field as a staggering 61% of businesses send all leads directly to sales, despite only 27% of those leads actually being qualified and representing a good fit for your product or service .
Wasted time builds upon wasted time leading to the inevitable: economic leakage.
But what if there was a way to realign your sales and marketing teams to stem the flow of missed opportunities? What if you could quickly identify those leads most likely to convert and concentrate your sales efforts upon your best fit prospects? Enter: lead scoring.
Read below to discover exactly what lead scoring is and how your business can adopt a winning scoring methodology to supercharge your sales performance – now.
If you’d like to discuss your marketing strategy with one of the Think Beyond experts direct, call 01625 682110 for a no obligation initial consultation.
Lead scoring explained
In its simplest form, lead scoring is a nurture technique that aims to move your inbound leads to MQL (marketing qualified lead) status.
Using predefined criteria, every incoming lead is assigned a specific numerical value to help identify which prospects are potentially most valuable to your organisation. Once a certain points threshold is reached, the lead is considered a “hot prospect” and passed to sales.
The benefits of lead scoring extend beyond better internal time and resource management. Lead scoring has been proven to boost marketing ROI, to deliver a 38% uplift in lead to opportunity conversion rate and to reduce both purchase cycles and email unsubscribe rates. In short, lead scoring can protect your revenue generation.
How to set up a successful lead scoring programme
The most comprehensive lead scoring systems combine both explicit data (what is known about the prospect from form fills and firmographics) and implicit data (such as actions taken online i.e. downloads and visits of key pages) to ascribe value to their inbound leads.
Predictive lead scoring offers marketeers the chance to further refine their criteria by using artificial intelligence to automatically collect, compare and calculate a lead’s value.
However, any lead scoring system requires constant review and should be founded upon a solid knowledge of both your company’s buyer personas and sales funnel. Without knowing what your ideal prospect looks like and what prospect actions align with ToFu (top of the funnel), MoFu (middle of the funnel) and BoFu (bottom of the funnel) you have no measure of “good”.
It is therefore imperative that sales and marketing teams work together to define “good”. Lead scoring should be viewed as a collaborative exercise between the two departments that is focussed upon quality over quantity; it is a refined and data-driven process that drives long-term strategic value. As a recent Demand Gen report on the state of B2B lead scoring suggests, sales and marketing alignment is necessary if lead scoring is to be recognised as such by the C-suite.
Why the time is now to Think Beyond
Funnels, cycles, personas, criteria – the work behind an effective lead scoring methodology is time consuming, complex and continual. With 68% of B2B companies yet to identify their sales funnel, it is perhaps not surprising that only 21% of businesses in this sector are actively utilising a lead scoring programme  despite the clear revenue and business benefits to be had.
It is here that the Think Beyond consultants can help you to get ahead and stay ahead of the competition. Our qualified marketeers will work with you and your teams to produce an inbound strategy that makes the most out of every opportunity and lead. From identifying your target markets through to the development of a marketing plan and the implementation of agreed actions extending as far as board level marketing support, Think Beyond has a singular aim: to accelerate your business potential.
Our dedicated strategists have already helped senior teams across the UK find their marketing solution. Check out our testimonials by clicking here.