In the 2012 Benchmark report by MarketingSherpa, 79% of B2B marketers reported that they have not established lead scoring while companies using lead scoring show a 77% lift in lead generation ROI.
Congratulations on being ahead of the curve! However, are you seeing a lift in ROI? Is your sales team chomping at the bit to follow up on marketing generated leads?
After a few months of utilizing your current lead scoring system, you may start to realize a gap between your leads who have met the lead score threshold and truly qualified leads for sales. This is very common in the world of marketing automation and we have found a few different reasons as to why your lead scoring system may need a makeover:
- You didn’t know what you didn’t know. As a first time marketing automation user, your first go at lead scoring was a baseline. Simplicity is key for your first lead scoring system, but now that you have an idea as to it’s impact, you should go for round two. At The Pedowitz Group, we have yet to see a client state that their original lead scoring system was right on the money. Testing and trending is key to help understand what scored profiles work best for sales.
- You didn’t include sales on your first lead score design. According to a study conducted by Aberdeen, best-in-class organizations that have common lead definitions with sales and marketing see an increase of 49% in year-over-year annual revenue. Without a common definition and an agreement on the lead score qualifications, you may be missing the mark with your sales team. Include sales in your lead scoring refresh to more accurately align marketing’s lead qualification with sales.
- Technology has changed. Marketing automation platforms are getting much more sophisticated around lead scoring and lead scoring management. Take advantage of these new models to become more sophisticated in managing and leveraging your scoring system.
- Your company has changed. Business units have shifted, sales priorities have shifted, your website went through a redesign complete with brand new URLs. All of these changes happen over time and need to be reflected in your lead scoring system.
- Your scored leads are being ignored by your sales team or inside sales team. This is the number 1 reason why any marketing department should look at refreshing their lead scoring model. Lead scoring is the mechanism for which you deliver leads to your sales team. On average, less than 25% of inbound leads are truly ready for sales, so an accurate lead scoring system is crucial to revenue success.
With all of these variables, it is fairly common to see best-in-class marketing departments review their lead scoring system with sales on a weekly basis for a new roll out, and then on a quarterly review after the first 3-4 months. The Pedowitz Group can help you refresh your lead scoring system. Feel free to contact us for package details.
Majda Anwar is a Revenue Marketing Coach and the manager for Campaign Strategy at The Pedowitz Group. She has been with TPG for 8 years working with clients to connect business objectives to results through campaign strategy and design. Majda brings both strategic and technical value to client as she is a Marketo Certified Consultant. Majda holds a BS in Business from Georgia Tech.
- Posted by Majda Anwar
- On 06/24/2015
- 0 Comments