You've created a luscious lead magnet, hosted a webinar or done any manner of things to get someone onto you email list. Now you just have to hold tight and wait for them to buy, right?
Well not quite! In fact, it's thought that 75% of leads don't buy from you 😱
Oh no! That's not the kind of statistic we like to see. So how do you figure out who is and isn't going to buy from you. And how do you change that and make sure that you aren't only attracting the hottest, and juiciest of ready to buy leads onto your list?
People are primarily concerned with getting people into their funnel. But once they are there, what are you going to with them?
This is where lead scoring comes in....
Lead-scoring is the process in which you assign value, usually "points" to each lead that lands in your funnel. They are scored based on a few different attributes. This will help you and your sales team prioritise who to focus the energy on, and increase the rate at which you leads turn into customers.
I'm going to hop straight in with some statistics leading up to leadscoring here:
Only 25% of leads are legitimate and should advance to sales... (Source: Gleanster Research). That means that 75% of your leads aren't being sold the correct thing, or worse, aren't ready to buy when you start pushing offers. And it's no wonder then that 79% of marketing leads never convert into sales. (Source: MarketingSherpa). Scary stuff.
Let's quantify that. If you have 100 leads, only 25 of those are ready/ right for the product.
Of those 25, approx 20 of them WILL NOT PURCHASE.
Which leaves you with a meagre 5. 5 people out of 100 leads. That sucks.
But here's the deal: Nurturing your leads until they are ready to purchase, and only selling to them when they are ready...
Get your lead scoring rock and rolling...
Nurtured leads make 47% larger purchases than non-nurtured leads. (Source: The Annuitas Group).
And relevant emails drive 18 times more revenue than broadcast emails. (Source: Jupiter Research)
Not to mention that nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads.
So let's look at this example again. You have 100 leads. Normally, only 5 will buy. But, with a well designed email campaign you could increase the number quite significantly. Nurturing the list could add a healthy 20 people onto your numbers. With higher engagement, spending more money.
WHO DOESN'T WANT THAT???
The question isn't really why you wouldn't want this now, it's how do you get it?
That's where leadscoring comes in.
Only start the sales process with your hottest leads. Or trigger specific sale sequences when a lead reaches a certain hotness.
And do it automatically (you can do this using Infusionsoft).
In order to do this, the first thing we have to be comfortable with here is that not all leads are equal. Every single one of your prospects is an individual. Because of that, each of your prospects comes with all the complexities that make humans human.
Which is not an easy problem to solve if you're trying to automate your marketing.
If we go back to old face to face sales, this is pretty easy to do. You can see how engaged your prospect is by their body language, facial expressions and what language they are using. We're hardwired to pick that up in people.
But online that's a different story. You can't see that person. You don't know what they're up to, and that's why you're going to lose 75% of your sales. You have no idea whether or not they are ready to buy....
OK I'm painting a pretty bleak picture here. But there is a very good reason why a 2% conversion rate for marketing campaigns is considered "normal"...
Let's face it - 2% sucks.
Now what if I told you we could turn your marketing automation into an artificial intelligence that tracks behaviour and scores your leads based on how they behave and interact with your marketing...
You're probably thinking I've lost the plot. Luckily - not today! Yes we can totally do that, and it's quite simple actually.
So where do you start?
Firstly, you will need to start by understanding yourself as a business. And then understanding where your customer fits in. Once you have your own processes mapped out - what and how you should be scoring becomes easy.
Lead scoring can, and should be simple. And if you have lead scoring in place already - is it really working for you?
Now, there is a reasonable amount to do to get lead scoring really rocking and rolling for you... But we've got our hands on a nifty ebook here to help you out on that process... FRONT TO END.
Want to be able to see exactly which leads are hot like the awesome lead below?
Get your lead scoring rock and rolling...
Lead scoring is a great way to figure out who is ready to buy on your list. By combining this with email nurturing you can really increase the % of people who buy from you in a significant way.
Become better than the average and nurture those leads to help you sell more.
Pop your details in below and we'll send you your free ebook on how to Leadscore Like A Rockstar straight away!