If you’re an excellent performing sales rep you will build and maintain a sales funnels that is piled up to the ceiling with prospects, leads and opportunities. It’s no exception to have hundreds of different prospects in your pipeline. The only limitation to further increase your deal flow is that you simply lag the amount of time and resources. Yet your manager is breathing in your neck demanding that you increase your sales target. Hence the challenge: how can you optimise your sales performance, get more deals out of your funnel, within the time available.
One method for this is to use dedicated software (like marketing automation platforms such as Marketo) to help you determine what stage a lead is in, by implementing lead scoring. With lead scoring you basically set a score for each action that a prospect takes before they are handed over to sales by marketing. You can also score based on demographics or information filled out by a prospect using forms. All those characteristics, actions and information add up and assign a ‘lead score’ to your prospects. The higher the score, the more interested your prospect, the more likely the deal. So, how are you going to start with lead scoring?
First of all, you need to answer the question what a score is worth. A lead score of 100 doesn’t mean anything if it’s not connected to a target. A score of 100 needs to say something explicit about that lead. In other words, there is no way that you can build an effective lead scoring program without knowing your targets. So,
start collecting and reviewing all the information you have about your leads, customers and visitors and use that to determine generic characteristics of leads in each stage of the sales funnel.
For example, by analysing this info you find out that a lead visiting your website, checking your pricing page and responding to a couple of automated emails is ready to be called for a demo. So you use those insights to attach points to those actions, and make sure that those points add up to a score of lets say 100. Once you’ve activated your lead scoring program, you can quickly filter all leads with a score of 100, and you know they are ready to be called. Leads with a score of less than 100 points can wait.
Improve your Sales Performance
Because lead scoring means scoring all the actions that your prospects take on your marketing collateral, and because it’s executed automatically by marketing automation software like Marketo, it works for you by your side as the perfect sales companion. By quickly filtering your leads based on their score, you can much more efficiently target and structure top of your sales pipeline. You now know what leads to focus on.
However, you also get a better understanding of which leads need more nurturing. And instead of waisting time on calling them, you now know you should approach them in a more efficient manner, like sending another email or presentation.
At Fileboard we highly recommend sales reps to implement lead scoring so that marketing only passes those leads to the sales team which are “Sales Ready”. It’s one of the best ways to increase your sales performance, to get more out of your sales pipeline and to increase your sales target. So start scoring today and close more deals faster! In a next post I will talk about how sales reps should be managing the leads which enter the pipeline from initial sales contact to closing the deal. Focus and priority is relevant in that part of the sales funnel but we need to focus on a different type of score further down the funnel. Until next time.