Role of Predictive Lead Scoring in Marketing Automation
Priyash Nigam - Strategic Digital Marketing Consultant
Fractional CMO | Digital Marketing Expert | Digital Marketing Trainer | Digital Marketing Corporate Trainer | Digital Marketing Speaker
Suppose you run an ad campaign, someone fills out a form, and your team reaches out to them. Your team will receive one of two responses:
In the second case, you instruct your sales team to have some back and forth but they still show no interest in your product or services.
Not new, hearing “not interested” from prospects is very common and you might think your sales team has a poor approach, unable to convert them. Right? I used to think the same way for years.
But what if your sales team knows right from the start that they are interacting with leads who have a high interest in your product or service?
They will be excited and change their tone, right? But how will they know if the lead is interested or not?
In today's newsletter, I will discuss a modern approach to know the interest level of your leads based on predictive lead scoring method.
What is Predictive Lead Scoring
Predictive lead scoring is a method used in marketing to determine which potential customers are most likely to make a purchase.
It uses data and algorithms to predict which leads (potential customers) have the highest chance of becoming actual customers.
Predictive lead scoring is a marketing method that uses data and algorithms to determine which potential customers are most likely to make a purchase.?
In this method a number of parameters are used for analyzing customer behavior like Website behavior
Email interactions
Demographic details
It assigns a score to each lead. Now based on this score, marketers identify and prioritize the leads with the highest chance of becoming actual customers.
Predictive lead scoring used technology to focus marketing efforts on the most promising prospects.
Working Model of Predictive Lead Scoring Strategy
Predictive lead scoring method works by analyzing prospects behavior towards your product/service.?
Companies start by gathering a lot of information about their leads. This data includes various aspects of their online behavior, such as how they interact with the website and emails, as well as demographic details like job title and industry.?
Here are some important parameters based on which predictive score is given:
After collecting this data, predictive lead scoring algorithms analyze it to generate a score for each lead. This score shows the likelihood that a lead will become a customer. Based on the score, marketers can adjust their strategies by approaching different leads with customized content and tone. This personalized approach increases the chances of closing a sale.
How Predictive Lead Scoring Helps in Marketing Automation
Segmenting Your Prospects for Targeted Outreach
Predictive lead scoring is an excellent method for segmenting prospects based on their likelihood to convert. You can categorize them into:
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These segments are determined according to the lead score assigned to each prospect. You might wonder how to determine the scores for each segment. See, these parameters can vary from business to business. For a more detailed explanation on segmenting leads feel free to contact me via DM or email for a personalized consultation.
Using Resources More Efficiently
Success in any business depends on smart resource allocation. Instruct your sales team to focus on leads with higher predictive scores to maximize conversion results without.
Aligning Sales with Predictive Data
A strong collaboration between marketing and sales can be the difference between hitting top speed and stalling out.
Predictive lead score can be used to align team work smoothly. The important point to note here is to listen to your sales team's feedback on how these leads perform compared to those traditional leads methods.
Based on the feedback you can refine and improve your lead collecting strategy.’
Sending Content Based on Predictive Sales Score
Let me illustrate this with an example: high-scoring leads should receive content that highlights your product's advantages over competitors focusing on the benefits and unique features.?
On the other hand, low-scoring leads need nurturing with educational content to build their interest and guide them towards conversion.
Use Data to Update and Improve Your Ideal Customer Profile
Analyzing your high-scoring leads can refine your customer profile for your sales team. Look for trends in these leads that are different from manually scored leads then use this valuable trend data to adjust and improve your approach to your Ideal Customer Profile (ICP).
Optimizing Leads for the Sales Team
Imagine your sales team receiving leads that have been filtered through a number of promising parameters. With predictive lead scoring, your sales team can interact with leads who are genuinely interested in your business
Track Return on Investment (ROI)
Predictive scoring offers a valuable opportunity to track the return on investment (ROI) of your marketing efforts.
During this process, you might encounter leads with perfect predictive scores that do not align with your manual scores.
At this point you have to nurture these leads by closely observing their behavior. If they start converting, you will know you are on the right track.
Conclusion
All these benefits add a layer of intelligence and precision to your marketing efforts. Predictive analytics can significantly enhance your marketing strategy and improve your approach to prospects.
Whenever I interact with my clients, they often face challenges in shortlisting leads. Sometimes they find overlap and at other times, there is a lack of energy in conversations with prospects.
If your sales team knows the interest level of leads, it will transform their approach. When they understand a lead's interest, their tone becomes more energetic and engaging.
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