How To Create A Lead Scoring System For Your B2B Business

Lead scoring is a metric used to determine whether or not a lead is ready to purchase from your business. It helps you prioritize leads and eliminate the ones that aren’t worth your time. Lead qualification is the process of determining whether or not you should give a lead the attention they deserve. There are many ways to do this, but today we’re going to focus on lead scoring. This is a much more effective way to qualify your leads than sorting them into categories like hot, warm, and cold. In this article, we’ll show you how to create a lead scoring system that will help you and your team prioritize leads.

What Is Lead Scoring?

Lead scoring is a way to quantify the level of interest a lead has in your business. It’s a simple way to identify which leads are more likely to become customers. Once you’ve identified which leads are most valuable, you can use this information to determine if the lead should be given the attention they deserve. If your leads are scored, you’ll know exactly which ones are worth your time and money.

When it comes to scoring leads, there are two popular ways to do it:

1. Qualification Scores: Qualification scores help you determine which leads should be talked to first by your team. Your team can then use this information to help them decide which leads are worth the most attention. You can also use qualification scores to determine the sales process you’ll use for each lead. For example, if you plan on calling a lead, their qualification score might be higher than someone who will be sent an email. Again, this lets you determine which leads should be called first.

2. Lead Scoring: Lead scoring takes it one step further. Instead of just determining how qualified leads are, lead scoring quantifies their level of interest in your business. This is done by assigning a numerical score to every lead. Every time you interact with the lead, their score will increase or decrease depending on what you do. For example, if you send a lead an email, their score will increase slightly. If you call them, their score will increase significantly. Using this information, you can determine precisely how interested a lead is in your business.

How To Create A Lead Scoring System

How To Create A Lead Scoring System

Creating a lead scoring system is easier than you think. There are two main ways to do it: manually or using a lead scoring platform.

1. Using a Lead Scoring Platform

A lead scoring platform will automate the entire process for you. You simply set up your criteria, which will take care of the rest. This allows you to avoid the hassle of logging every interaction you have with a lead, making sure that it’s added to the correct bucket.

You can also use a lead scoring platform to determine how much of your time and resources each lead receives. For example, if you have a limited amount of time you can spend with leads, you could assign a score that dictates whether or not they receive phone time with you. If a lead has a high score, you could call them. You could send them an email if they have a lower score.

The best lead scoring platforms also come with built-in analytics. This allows you to track and measure every interaction you have with a lead.

2. Using A Lead Scoring Spreadsheet Or Template

You can create your own manually if you don’t want to use a lead scoring platform. However, it is recommended that you use Google Sheets to keep everything organized.

To get started, you first need to create a column for each of the criteria you want to track. You should include columns like:

  • Contacted By Phone
  • Contacted By Email
  • Contacted In Person
  • Lead Has Requested Free Consultation
  • Lead Has Requested Quote
  • Lead Has Visited Our Office
  • Lead Has Signed NDA
  • Lead Has Signed Services Agreement

Next, you will need to create a column for the score. This can be done by assigning a numerical value to each different criterion. For example, if you want to track how many times someone has referred you, you might want to assign a value of “1” every time they do. If you want to track how many times someone has visited your office, you might assign a value of “10” every time they do.

After that, you need to log every interaction you have with a lead. This means that every time you contact them, mark it down in the appropriate column. Likewise, if they contact you, mark it down in the appropriate column.

Once you have everything set up, it will be easy to see how qualified each lead is. You can also track how much time and effort you spend on each lead, allowing you to adjust your strategy accordingly.

How To Use Lead Scoring To Determine Where To Spend Your Time

One of the best ways to use lead scoring is to determine where to spend your time. For example, if you have a limited amount of time you can spend with leads, you might want to rank them based on their score. You could then use this ranking to determine which leads you to want to call or email first.

You could also use lead scoring to determine which leads you to want to spend your time on and which ones you can ignore. For example, if you have a limited amount of time you can spend with leads, you might want to rank them based on their score. You could then use this ranking to determine which leads you want to spend more time with and which ones you can ignore.

If you don’t have a set number of hours you can spend with leads, you might want to consider ranking your leads according to their score. This will allow you to decide how much time and energy you want to put into each lead.

How To Use Lead Scoring To Determine Where To Spend Your Money

How To Use Lead Scoring To Determine Where To Spend Your Money

In addition to determining where to spend your time, you can also use lead scoring to determine where to spend your money. This is often done by ranking leads based on their score and then using this ranking to determine whether or not you want to pursue them further.

For example, let’s say you have a budget for advertising. You might want to make sure that you spend most of your money on leads with a high and/or a low score. But, on the other hand, you don’t want to waste money on leads who are unlikely to buy from you no matter what you do.

You could also use lead scoring to determine how much you want to invest in each lead. For example, if you want to invest $500 in each lead, you might want to rank leads based on their score and spend most of your budget on leads with a high score and/or a low score. You don’t want to waste money on leads who are unlikely to buy from you no matter what you do.

How to Measure The Effectiveness Of Your Lead Scoring System

If you want to know whether or not your lead scoring system is working, you will need to measure its effectiveness. The best way to do this is to track your sales. If your sales increase, then it’s likely that you are using your lead scoring system correctly. On the other hand, if they decrease, then you might want to make some adjustments.

You could also use lead scoring to track how many leads you can convert into customers. If your customer acquisition costs increase, your lead scoring system works. If they decrease, then you might want to make some adjustments.

Conclusion

Lead scoring allows you to determine how qualified a lead is and where to spend your time and money. This allows you to focus on leads most likely to buy from you. It also helps you determine how much time and money to invest in each lead. If your sales increase, your lead scoring system will likely work. If they decrease, then you might want to make some adjustments.

Leave a Comment