Lead Scoring is used by businesses to rank prospects using a scale that applies value to a lead based off a predetermined set of criteria that makes them a good candidate for conversion. Whether you are a small business with a sales team or a solopreneur that wears all the hats in your business lead scoring is important so that you (or your team) isn’t wasting time with leads that aren’t ready to buy.
The first thing you’ll need to do to set up a lead scoring system for your business is to determine which criteria makes for a qualified lead.
You’ll want to sit down and determine which activities and behaviors make for a qualified lead.
Once you’ve identified the activities and behaviors that are attributed to a qualified lead you will want to develop a point system that you apply for those activities and behaviors. I’d recommend that your point system be based off a 0 – 100 point scale.
What Score Makes a Lead Sales Ready?
With the point system in place you can now create a lead score card. Here’s an example of what a Lead Score Card may look like:
This lead currently has 90 points. So, you may determine that a lead is considered “hot” if they have accumulated 75 points or more (if using a 100 point scale).
Here’s an example of a lead that has reached a 4 “flame” status and would be considered a “hot lead”:
Once a lead has reached a “hot lead” qualification they would be sent over to your sales team (or assigned to you) to contact them for conversion.
To determine what point value would validate a “hot lead” it helps to look at past lead activity to determine what has historically lead to sales conversions.
Keep in mind, a lead’s activity can change from day to day, so it is important that your sales team acts quickly in contacting your qualified lead.
It’s also important to point out that it’s virtually impossible to track a leads activity manually. You’ll need a lead management software that enables you to set your lead scoring criteria so that you can score your leads in real time.
If you are interested in setting up a lead scoring system for your business download the FREE Guide below to “Score Like a Rockstar” and begin to create your own lead scoring system.