Lead scoring is a way for website owners to classify their website visitors according to how likely they are to become customers using a points system and ranking one visitor against another. These points help identify real sales opportunities and improve collaboration between marketing and sales teams as they reveal where the visitor is in the buying process and enables the prioritizing of hottest leads with the appropriate follow-up action.
A lead scoring model is usually based on two dimensions. The first dimension demonstrates how well your visitor fits in to the business and the second, how they engage with it:
Explicit data includes details provided by the prospect, such as their industry sector, company size, job title and geographical location, and can be collected via newsletter signup, a survey or similar.
Implicit data is derived by monitoring the prospect’s behavior, noting if they download whitepapers, watch videos, visit particular pages, open emails or return to the site.
The points per activity and for quality of details supplied are specific to each business, as it is the website owner who sets these up. So if watching the promotional video suggests a great level of interest in the business, then this can have a higher point value than, say, visiting the FAQ page.
As self-supplied data tends to be either under- or over-inflated but very useful, and customer behavior alone can be insightful but directionless when it comes to leads, it is by combining the two that website owners get can hone in on real sales opportunities and avoid wasting time on passers-by.
In short, lead scoring is like a very intuitive “sorting hat” which puts all your visitors into clearly defined categories, so you know who to ignore, who require more nurturing and who are ready to be swept of their feet with your sales call.