What is Lead Scoring?
Lead scoring is a methodology used to rank prospects against a scale that indicates the perceived value each lead represents to the organization. The resulting score is used to determine which leads should be qualified in order of priority.
The value of each lead may vary, but generally, it characterizes and determines the worthiness of a lead. This helps your sales team to focus on the right leads and close more deals.
How Does Lead Scoring Work?
A point-based scoring system in qualifying leads refer to them as "hot," "warm" or "cold", based on your previous experience. You can set up your lead score by adding values to the criteria of marketing source, country, industry, lead status, and other.
To set up an effective lead scoring, it is suggested to first look at the Insights section, especially Marketing reports. This will help you to identify which leads, according to their criteria, are more likely to buy than others.
How Do I Score My Leads?
1. To set up Lead Scoring, navigate to Settings > Leads > Scoring.
2. Click on the selected criteria (e.g. country) and press the “+” button. Then select a value (e.g. United Kingdom) from the drop-down and assign it with a score (e.g. 20). You can set any point value you’d like; it can both be negative and positive.
Note: Customers with "Professional" subscription plan can select "Source" criteria only.
Each criteria can be assigned with multiple values, and every value is given a score. When adding values, it is necessary to determine what the maximum sum of scores will be. For example, if you determine the sum of 100, and you use 5 criteria, then it is recommended to give a max value of 20 per criteria. Use the slider as a reference to see the actual maximum lead score.
3. Add as many values as you need in each of the criteria. When a new lead is added, the lead score is counted automatically considering its values.
4. Use the slider to apply a grade to leads based on their score. Each grade has a name, usually consistent with a selected metaphor cold / warm / hot and is associated with a range of scores.
Info: The minimum and the maximum in the slider are correspondingly the lowest and highest possible lead scores. For example, if you use two criteria - “country” and “industry”, where, respectively, the highest scores assigned to a value are 40 and 60, then the maximum displayed in the slider is equal to 100.
Note: Lead scoring is applied to all new, manually or automatically created, leads. If you want to apply lead score to the existing leads, you have to select all or particular leads in the Leads section and apply the massive action called “Recalculate scoring”.
The result of scoring is visible in the Leads section and Leads list as number indicators. You can sort and filter your leads by the lead score to improve predictions and productivity.
- Marketing: Leads by Source
- Marketing: Leads by Industry
- Marketing: Leads by Country report
- How can I use Leads in Teamgate?