One of the most critical aspects for a company is the management of its customers and how to determine if they are potential customers or not in order to create strategies and invest time in them. This strategy is Lead Scoring, and we teach you about it in this blog.
- What is Lead Scoring?
- Lead Scoring criteria
- Setting Scores
- Lead Scoring Implementation
- Example Case: Toy Store
First of all, we must identify what a Lead is. Customers are just that, customers, but when they become potential, they become Leads. A customer who interacts with the website, landing pages, and forms, who meets specific requirements, is called a lead. This can be in the Discovery, Consideration, or Decision stage.
What is Lead Scoring?
Lead Scoring is the qualification given to the actions performed by the lead or even to specific characteristics it possesses.
Lead Scoring Criteria
First, there are the explicit criteria, the contact data that are scored depending on the company's Buyer Persona, its location, or the characteristics that the lead does or does not have.
Then the implicit criteria are established, which are the specific actions we want the user to perform, for example, filling out a form.
These ratings are placed depending on the Buyer persona, as mentioned above, and the criteria in which the company is interested.
When the lead reaches a particular score, it can be considered suitable for nurturing, i.e., sending blogs, downloadables, or files that provide information and offers, among others. If it reaches a higher score, it can be considered as a frequent customer, and this becomes a preferential treatment; it all depends on what the company establishes.
It is also possible to lose points by not complying with specific characteristics, so negative scores are given, which makes it more difficult for the customer to become a lead.
The lead scoring determines whether a customer is worth it in terms of buying potential and investment of time and resources or not.
Implementing lead scoring
- Step 1: Determine the company's Buyer Persona in order to be clear about the characteristics that the customer must fulfill to become a Lead.
- Step 2: Establish both explicit and implicit characteristics.
- Step 3: Score the explicit and implicit characteristics depending on the level of importance the company wants to give them to meet its objectives.
- Step 4: Implement the scoring in the software used for automation management, such as HubSpot.
- Step 5: Update this information every one or two years, as well as the Buyer Persona information, to keep it up to date with the company's objectives.
Example case: A toy store
In this case, the company has E-commerce. Parents can buy toys for their children, and they are the primary Buyer Persona of the toy store.
The store is located in the city of San José, so one of the main characteristics of the customers is that they live or work in this province.
Considering the above information, the company's members place a score of 8 points (which is regarded as high) for customers who live or work in San José. This information is established when creating the user to make purchases within the website. In addition, if they meet requirements such as interests, goals, and specific spending on toys, with the Buyer persona, they are scored 5 points for each of these requirements.
People residing in areas far from San José scored -5, as there is no interest on the part of the company in nurturing these customers.
Interaction with landing pages, emails, and forms is scored with 2 points.
For this company, if a customer has 40 points, they are nurtured with relevant information, offers, and even emails with product information. And when the customer reaches 60 points, they are considered a frequent customer. When the customer gets 80 points, they are a preferential customer, and the way to nurture them changes since it is certain that the customer will make purchases.
I hope this guide will help you to understand Lead Scoring and to have a foundation to perform it in your company.