This article is here to give you a brief outlook on how things work in this area. In this article, you will find:
Why Do I Need Lead Scoring in my Content Marketing Campaign
The world of SEO is constantly changing. Right now, content marketing is the key to success in most industries, especially to companies that market to millennials, as they are less susceptible to paid advertisement. If done properly, it brings in a load of people to the site, but it creates no understanding of how willing are these people to buy.
That is why every content marketing campaign needs some kind of data analytics to fuel further growth, and lead scoring is one of them. Here is what it can do for your marketing campaign.
Create an understanding of the audience
If your site already has a significant amount of monthly traffic, lead scoring will help you understand, how your visitors interact with the site. In the times, where information means power, this means everything.
Your understanding of your audience will result in adjusting user journeys and buyer personas. This, in turn, will likely result in more sales.
Make you improve your editorial calendar
Lead scoring lets you see what types of content are preferred by both ends of the sales funnel. With that information, you can craft more pieces of content that would attract more people to your site, and pieces of content that would lead up to a sale.
Knowing what type of content is associated with the likelihood of closing a sale lets you start nurturing leads. Lead scoring lets you see what type of people can be lead towards a sale, and start attracting them with different types of content, personalized emails, etc.
Sales department efficiency
Lead scoring makes your sales team focused on the tip of the iceberg, the very best clients, that have the most potential for converting. Apart from gathering the information on their behavior, lead scoring will let you see some of their personal info, that was obtained through completing forms on the site, and their interest in content.
Armed with that person’s name, position, and interests, your sales representatives will close the purchase in no time at all.
Lead Scoring Data Set
We’ve talked so much about the benefits of lead scoring, it’s time to talk about its biggest drawback.
Lead scoring typically involves setting numerical score awards to certain actions or attributes of users. Say, being from a B2B, rather than a B2C company, gets you 2 points, and watching a webinar gets you 15. The problem is how you distribute those points.
For example, users of Rentberry.com that have contacted several tenants, have more chances of converting, than those, who read a blog article. But the question is, what exact scores should you give to each action? Here comes the truth. Lead scoring is virtually ineffective without web analytics.
You may talk to your sales team or conduct interviews with your leads, but in the end, you’ll have to set the scores. Without well set up analytics, these scores won’t be anything but an informed guesstimation.
That said, let’s take a look on what types of data, you want to incorporate in your lead scoring.
Lead scoring automation software would typically catch the lead’s IP address, and create a person’s profile with that anchor. This helps to collect consistent information on the person’s activities and preferences, but also to create a buyer persona, since at some stage they’re likely to fill out a form with personal information.
If you already have established well researched buyer personas, you give leads points for characteristics that match your ideal customer.
If a lead is a part of your email subscription pool, there are some important pieces of data that can indicate their readiness to buy, even though the two are not directly connected. For instance, if they consistently open letters and click on links, they can be given some points.
Sharing, engaging, or having a significant audience in a social network can also serve as grounds of awarding points to a lead.
Attribution modelling of on-site behavior
Web analytics data is paramount, but without the right approach, it is virtually useless. Start using attribution modelling, if you haven’t already. It’s a type of data analytics that attributes conversions to different actions of users.
You’ll have to consider the following information:
Converting Data into Scores
Having gathered the right data, don’t fall into the next big trap of lead scoring. Don’t try to guesstimate the scores. You don’t need “around 25”, you need an answer based on maths.
One of the easiest ways to do that is to award points based on the conversion rate of leads with certain attributes in a form of “conversion rate = number of points”. The other way is, if you have a list with numbers of conversions attributed to one or another factor, is to reduce the numbers in proportion and use that as lead scoring points.
However, there are entry-level techniques everyone can use, and it comes as no surprise that they lack in accuracy. Don’t use these, unless you are really short on budget, or time, and even then, consider changing the way you calculate points as soon as possible.
An advanced technique is using logistic regression to create a formula that’d consider the interaction of all factors in place to create more accurate scores. If your SEO team doesn’t have math-savvy people, it’s better to outsource for this. The odds are it won’t cost too much, and the results are totally worth it.
Don’t Stop Improving
Don’t let the scoring system slip. Monitor its performance, and the number of sales generated on leads with different scores. If in the end of a three months period, leads scores do not correlate with actual sales, it’s time to find your problems and solve them.
Here’s a quick recap of the article:
Freelance Content Strategist. Helping brands find a right voice, one story at a time. Passionate about animal onesies, meaningful conversations and well-spoken people
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