Study Notes May 4, 2018

Study Notes May 4, 2018

Lead Scoring Best Practices – Active Campaign Guide

  • Set Thresholds
    • Synonymous with the lifecycle stages of your sales process.
      • Contacts will move up or down between stages based on their actions
    • Example thresholds could include:
      • Prospect – Potential Contacts
      • Lead – More engaged leads
      • Marketing Qualified Lead (MQL) – The most engaged leads and the contacts your marketing team should be creating opportunities to get them to sales. They do this by giving these leads something to interact with that proves their level of interest and engagement.
      • Sales Qualified Lead (SQL) – The primary target for the sales team. Sales should spend majority of their time on contacts identified as SQLs.
    • Example scoring system – 100 Point System
      • This gives flexibility so adjustments can be made easily
      • In a 100 point system, sales team should be working any contacts with a score of 100 or above.
      • Again, sales team should spend most of their time on SQLs
  • Assign Threshold Points
    • Leads will work their way up to 100 points as they continue to take action throughout the customer journey
    • Begin by identifying the number of free offerings (or lead magnets) you currently have available in order to capture contact info.
    • Example point distribution
      • Becoming a Prospect – 10 Points
        • A prospect is defined as anybody that has taken action on a free resource
      • Becoming a Lead – 50 Points
        • The point value required to become a lead is equal to the number of free offerings you have times the Prospect score.
        • Any prospect that takes action on ALL free offerings will be qualified as a lead
      • Becoming an MQL
        • Simply the Lead score plus 25
      • Becoming an SQL
        • Again, simply the MQL score plus 25
    • There will be some trial and error in the process of learning how your contacts behave
    • Don’t worry about getting it just right immediately, the basic framework is all you need to begin
  • Set Lead Score Rules
    • Continuing with previous example point system
      • The actions contacts can take that correspond with each threshold that’s been defined:
        • Prospect – Downloaded a free offer
        • Lead – Filled out a contact form
        • MQL – Scheduled time (or registered for an event)
        • SQL – Attended an event or meeting
      • To break this down further:
        • Every free offer is worth 10 points. If a contact downloads your free offer they become a prospect.
        • The contact form is worth 50 points. If a contact fills out a contact form, or downloads all 5 of your free offerings, they become a lead.
        • The opportunity to put time on the calendar to talk is worth 75 points. If a contact schedules time to discuss your product with you, they become a MQL
        • Event attendance is worth 100 points. Once a contact attends a meeting to discuss your product, they become a SQL (Hot Lead)
      • Remember, that the framework is meant to be a guide, it’s important to consider what actions contacts take that are most valuable to your business when setting up your lead scoring system
      • Finally you would need to set up your scoring rules in the manage score page
      • These actions are only counted once toward your contacts.
  • Identify Other Actions Worth Scoring
    • Some actions are worth scoring multiple times
    • For example, it’s safe to assume a contact who opens all of your emails and visits your website five times is more engaged than a contact who only opened one or two of your emails and never visited your website, so it makes sense to score these actions more than once.
      • How you might divvy up points for these kinds of actions
        • Email Open/Read = 1 point
        • Email Click = 2 points
        • Website Visit = 3 points
    • Lead score rules are only applied to contacts once, but you can use a series of automations to award points every time a contact takes certain actions.
    • After you create your automations, they can be organized with custom labels/folders on the side of the automations page.
  • Determine Point Decay
    • This is an important part of your lead scoring framework because if your contacts don’t stay engaged, they’re no longer hot leads after a certain point. There scores should decrease in value over time to reflect that.
    • You determine this point decay when you create Lead Score Rules in the Manage Scores page
    • In general, it’s good practice to give contacts two months of no activity before you begin to subtract points from their lead score.
    • Ultimately your point decay rate should be based on the length of your sales cycle.
    • Automations can also be used to subtract points
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