How Does Lead Scoring Work?
The ultimate goal of lead scoring is to have a consistent system for evaluating the quality of a lead in terms of its likelihood to convert.
While the methodology of lead scoring is widespread, every company creates its own unique lead scoring model based on its prior experiences and knowledge of factors that make a prospect likely to convert into a customer.
Lead scoring models can range from extremely simple to highly complex. Many SaaS companies use a lead scoring model where prospects earn a score between 0 and 100 based on their firmographic characteristics, decision-maker persona, online behavior, engagement history, and other factors. The higher the score, the more likely that lead is to convert into a customer.
When developing a lead scoring system, your job is to define which specific characteristics or behaviors should result in adding or subtracting points from your prospects.
A prospect that requests a demo on your website normally gets a big boost to their lead score, indicating a high intent to purchase and likelihood of conversion. On the other hand, a prospect that visits your “Careers” page should probably have their score reduced, since they might be looking for a job instead of trying to buy your product. It’s also normal to assign more points for prospects that fit your Ideal Customer Profile (ICP).
Lead scoring can be automated with the help of marketing software like ActiveCampaign or Salesforce Engage. Once your company has defined its lead scoring model, these tools automatically track how prospects are engaging with your website, update lead scores in your CRM, and send you alerts when a prospect earns enough points to qualify as an MQL.