2017-02-08 00:00:00 Growing a Business English Learn how developing a solid sales lead scoring system can significantly increase revenues for your small business. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/06/Farmer-views-sales-leads-on-mobile-device-sitting-outside-near-crops.jpg https://quickbooks.intuit.com/ca/resources/growing-business/lead-scoring-system/ Building a Lead Scoring System to Increase Sales

Building a Lead Scoring System to Increase Sales

2 min read

A lead scoring system can be a real boon in revenues for your business, whether you run a brick-and-mortar location or sell goods online. Such a scoring system prioritizes sales leads, which allows your sales team to focus on your best opportunities for sales and avoid wasting time on dead ends. Ultimately, the goal is to increase sales and boost your company’s bottom line.

Three Basic Structural Elements

There are three key elements that play starring roles in most successful lead scoring systems:

  • The likelihood that a customer will make a purchase.
  • The size of the purchase a customer is likely to make.
  • The time frame of the purchase, or, how immediate the need of the purchase is.

There are various ways to score these elements. Construct a scoring scale or system that is easy to remember, understand and communicate effectively across multiple departments.

How a Scoring System Benefits Sales and Marketing

Once you have a scoring system that is mutually agreed upon throughout your company, your marketing team and your sales team will be able to communicate with each other more efficiently. Your marketing department spends a great deal of time developing sales techniques and advertising that are designed to draw in thousands of sales leads. It is their responsibility to utilize the scoring system you’ve established to rank these leads from most to least promising. A cohesive lead scoring system ensures that marketing is effectively determining your company’s hottest sales leads and can pass these leads off to the sales department, knowing that the sales staff will chase the most promising leads first and most aggressively. In the end, this streamlined system of communication allows the sales department to pursue and ultimately close more fruitful leads, which will boost your company’s sales and inevitably generate more profit for your business.

Other Benefits of a Lead Scoring System

Leads that score lower reveal potential customers that need to be nurtured. Your company’s marketing department can build campaigns specifically to target and develop these low scorers into more promising sales-ready leads. You can also use your scoring system to determine the engagement of customers over a period of time, which lets you pinpoint customers that are entirely satisfied with their experience and continue to be enthusiastic supporters of your company. These customers are generally willing and eager to recommend your company to other potential clients. Offering special campaigns to these loyal customers, such as rewards or perks, encourages such recommendations and ultimately provides your business with fresh new leads that can then be scored and pursued. A well-built lead scoring system helps you understand your best leads. Because your sales and marketing team are speaking a common language, they can work together to develop and deliver marketing messages that they have tailored toward individual, high-scoring leads or groups of thoroughly engaged clients.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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