Business Essentials Official Blog


Sales 101: Lead Management 

Lead scoring is a crucial aspect of lead management in the sales and marketing world. Understanding lead scoring and how to score leads properly can be quite confusing, if you do not know where to start or what criteria to apply to the leads coming in. Lead scoring is the process of determining where a lead is in the sales process. Having access to this information creates efficiency and increases the chance of securing the deal. Is the contact just looking at your product? Or have they signed up for a webinar and had a conversation with a salesperson? Each one of these leads has acted in different ways and therefore they are in different places in the sales pipeline.

Lead Management

First things first, you must have a way to track these leads, which means, a CRM and analytics. You must know who these people are and what their activities are. If you use an integrated platform, such as BusinessEssentials, these activities are all tracked in the CRM, allowing for the most consistent and efficient flow of information. Secondly, you need to look at the different ways that your company can score leads to make it easier for the sales team to know when a lead is Qualified or Sales Ready. A qualified or sales ready lead is considered a good fit for your product or service and ready for engagement with a salesperson. Almost all leads start out as an opportunity, or a potential customer. These leads need the most nurturing to push them through the sales funnel.

Now, let’s take a look at a few different points to consider when developing your lead scoring plan.

One major aspect to consider is whether the lead is a “fit” for your company.

Does the lead:

  • Fit into your target market? Make the decision to purchase or not? Or are they simply an influencer?
  • Need major customization of your product or does the product fit them just right?

Your product or service is not going to be spot on for everyone, which is why you can use these criteria to apply scores based on the aforementioned.

The next set of conditions you can use to score leads is based upon behavior. What actions are these leads taking to get to know your product? This often gives you an idea of how interested and committed they actually are in your company, product or service.

Does the lead:

  • Subscribe to a newsletter?
  • Read your FAQ’s or watch your videos?
  • Attend a webinar or call a salesperson?

Again, these are all different stages a lead goes through in the sale process. Some, like the leads that attended a webinar, are going to earn more points than the lead that simply subscribed to a newsletter. Why? Because, by attending a webinar, they are showing their desire and commitment to understanding and learning more about what your business is offering. If they had no interest, they would never have attended it at all.

Now that we have discussed the different criteria used to score leads, let’s talk about scoring. A company can really choose whatever scale they deem fit, if you are using BusinessEssentials you are easily able to develop your own.  Develop a manageable range that both sales and marketing agree upon. This will ensure accuracy when determining whether a lead is sales ready or not. You may also use the terms; Hot, Warm or Cold to group leads as well.

Let’s say you are using a scale from 1-10. A lead that is in your target market, but just an influencer, who has attended a webinar might receive 7 points. They are a warm lead. If the lead was in fact the decision maker who attended the webinar, they would receive an 8 or 9 and be considered sales ready.

If you have a lead that needs a lot of customization of your product, they are the decision maker, but have only subscribed to a newsletter; you may want to give them a score of a 3 or 4. They are going to need a lot of nurturing and attention to pull them down the sales funnel.

This way of scoring adds another dimension because it addresses both demographics and behavior. With so many choices in products, a lot of leads are often looking at any number of different products or services. Lead scoring will help you determine which leads have a higher chance of turning into customers making both your sales and marketing teams more efficient than ever before.