On the E-Coffee with Experts videocast, I talk to Matt Fraser at Digital Web Solutions about a variety of topics.
We talk about winning the lottery, and how to implement lead scoring properly.
What kind of things do you do to score leads?
Lead scoring is more art than science. I would say the art is the actions we are going to take and then the sciences are, we’re going to score a certain amount to those actions.
So, any action examples you can share?
For example, they clicked on a link in an email. That’s 100 points. Or if they went, in HubSpot, there’s a tracking code where you can see if a contact has visited your website. So they visited your homepage three times, which says, 50 points a time. So that’s a very basic lead scoring. And so if they’ve engaged enough with your product or service via the marketing actions of like, visiting a landing page, attending an event, clicking on links in email, or listening to your podcast, for example. There are different actions they take along that customer journey. So once they’ve had enough of those touchpoints with you, then at this point these leads have gotten to say, like 1000 points, and you take that score, and then you’re like- Okay, at this score, we’re going to send this person to sales automatically. So you have a workflow in the background that says, send this person to the sales rep in this territory. And then, hopefully, sales will engage. There are also service level agreements that you need to have between marketing and sales. If you have an inbound lead that fills out a form that says- Oh, my God, I’m super interested in the solution, then sales will get back to that inbound in a certain amount of time.
So is there a process you take for working while discussing with clients the value of those actions? For instance, you mentioned that clicking on a button would be 100 points or a certain amount, something else with so many points. Is it just consulting with the client about what is most valuable or is there a standard for like a click button? Is there a standard in your experience that a button click is worth a certain value across the board?
No. I try to think of a business as its ecosystem. So each business will have its lead scoring. You can start with a basic template, but how you implement the lead scoring and everything, that’s where the strategy comes in. And that’s why lead scoring is a different animal for every business because not every business might have events right now. And they interact with a landing page to get an ebook. Yeah, a lead magnet. So if you’d like that’s like a different score. So there are commonalities between different businesses for lead scoring. This is why it’s called the roadmap to doing lead scoring. This is the one Excel spreadsheet that you use. I wish there was a master spreadsheet for this.
There is no lead scoring Bible.
Yeah, there’s no lead scoring Bible. Like it’s an intuitive process. So you implement your first lead scoring, you’ve tested between marketing and sales, and they realize; oh, we’re sending them too early, or we’re selling them too late or we’ve missed the boat on this. So then you’re iterating. You have to iterate and test. It’s not like set it and forget it. I wish. And then marketing and marketing ops people wouldn’t have jobs, right? Because if you’re not iterating, and testing, like, what’s the point of your lead scoring?