The Most Powerful (and simple) Lead Scoring Model We Have Tried
There are two schools of thought around lead scoring, use lots of data and find correlations or find the datapoint with the most correlation and stick with that. Lots of data is the luxury of companies with lots of smart people and/or expensive software and is better.
For the majority of small or medium companies we like one datapoint.
And that one datapoint is offer types.
Offer types are the kinds of things you offer on your website.
Do you offer free trials or whitepapers? A free trial may be MUCH more powerful than a whitepaper. You see, they are closer to buying something with a free trial than if they are downloading a whitepaper.
We call free trials, pricing, proposal requests a “buying signal” offer.
We call whitepapers, newsletters, ebooks, and even research papers (our favorite) “tire kicker” offers.
Tire kickers promote interest, buying signals indicate need.
Interest is the counterfeit of need. But interest can become need with education and time.
Call your buying signal leads back really fast (like within 5 minutes like our LRM study says), but perhaps don’t bother calling your tire kicker leads back at all, instead you should nurture them until they return and become a buying signal lead.
So if you can’t afford lead scoring software or analysts with a masters degree in statistics, prioritize “buying signal” leads about 6 to 8 times higher than “tire kicker” leads.
Free Lead Resonse Management Study
Answer the question, “When should companies call Web-generated leads for optimal contact and qualification ratios?”