Lead Scoring: What Is It & How Does It Work?
Lead scoring can increase marketing ROI by optimizing lead providers and sources, establishing custom rejection rules, payment structures tied to lead quality and prioritizing lead management based on propensity to convert.
In the past, lead scoring models were expensive and the models were time intensive to create. But newer scoring models have reduced the cost and time investment, making lead scoring more accessible to marketers.
What Is Lead Scoring?
Lead scoring is a methodology that ranks prospects against a scale of representative values. Based on custom scoring models, leads are evaluated against data points demonstrative of attributes that have been identified to signal lead quality.
A score is assigned and appended to each lead to indicate the likelihood of that lead to reach the targeted key performance indicator (KPI) for the campaign.
What Is the Purpose of Lead Scoring?
Lead scoring, combined with marketing automation software such as Sparkroom performance marketing technology, allows you to develop efficiency-focused marketing strategies and tactics.
Click here for the on-demand webinar to learn more:
- Lead Scoring: The Path to Efficient Marketing and Sales
- Presented by Digital Media Solutions (DMS) Consumer Insights & Marketing Analytics Director, Jeff Meola
Lead Scoring Can Boost Marketing ROI
Brands with metrics-based objectives, such as lowering the cost per acquisition, should evaluate lead scoring as a solution to gain marketing efficiency. In fact, a DMS client recently boosted its average conversion rate by 12.1% during the five months after implementing a new lead scoring strategy.
Lead scoring is a flexible, adaptive service that can support a wide array of marketing strategies, including the evaluation of any prospect or conversion metric. Lead scoring models can even be developed and deployed to evaluate longer-term KPIs related to retention or lifetime value.
If the goal is marketing or sales efficiency, lead scoring may be the answer.
Click here to download your free copy of our new lead scoring whitepaper:
In addition to a case study that demonstrates the potential for enhanced ROI with lead scoring, the new lead scoring whitepaper answers the following questions:
- What Is Lead Scoring?
- What Is the Purpose of Lead Scoring?
- How Are Lead Scoring Models Developed?
- How Can You Confirm a Lead Scoring System Is Working?
- How Can Brands Maximize Their Lead Scoring Efforts?