Gartner, Inc. has named Oracle as a Leader in its “Magic Quadrant for Digital Marketing Hubs.”
Translating Digital Body Language into Action
Today’s customer is in control of the buying process. With access to all the information they need, customers can self-educate on leading vendors and the solutions they offer. As marketers facilitate this process, they must pay careful attention to each prospect’s digital body language, so that they can identify the most qualified leads who are ready to engage in a purchase conversation with a salesperson.
How can marketers translate digital body language into the next action they should take? With lead scoring.
Getting Started with Lead Scoring
Lead scoring can’t begin until Marketing and Sales agree on the definition of a qualified lead. Once they’ve reached this point, Marketing can work to generate qualified leads and Sales can work to close them.
The definition of a qualified lead must include two dimensions:
- Fit – the explicit information we know about a prospect’s role, company, industry, and revenues – helps us determine whether they’re the ideal person to sell to.
- Engagement – the implicit information we know about a prospect’s activities, favorite topics, and level of interest – helps us determine whether they’re ready to begin a conversation with Sales.
These two dimensions of lead scoring will help Marketing and Sales to create a graph for scoring leads. You might use A, B, C, and D to rate a prospect’s fit along the X axis of your graph, and 1, 2, 3, and 4 to rate their engagement along the Y axis of your graph. You can then define a next action for each square on the graph. A1 leads – those with ideal fit and maximum engagement – can go directly to Sales. A3 and A4 leads, which have the right fit but minimal engagement, should be nurtured over time until you detect signs of engagement. C1 or D1 leads, which have high engagement but low fit, might be worth talking with to see if they’re doing research on behalf of a more senior decision-maker.
Refining Lead Scoring Over Time
With each action a qualified prospect takes, his or her lead score will change. That’s why it’s crucial to ensure that a re-scoring process will be triggered automatically by each action, and with each day that passes. Keep this requirement in mind as you look for marketing automation software.
Lead scoring allows Marketing and Sales to agree on not just the definition of a qualified lead, but the appropriate next steps for any qualified lead in the pipeline. It’s fair to say that good lead scoring forms the foundation of any successful B2B lead generation operation.