How Lead Scoring Can Go Wrong!!
Lead scoring http://www.martechage.com/lead-scoring-a-snapshot is a crucial part of a successful lead generation exercise. A well contrived lead scoring model can add to sales productivity, sales engagement and funnel velocity i.e. higher Sales Qualified Leads/ opportunities/ closed deals.
Conversely, a poorly-handled lead scoring design adds wrong measures to critical conversion behaviors (lead-fit) and interest indicating behaviors (intent and context).
Lead score (lead quality) is measured against a pre-set scale to determine which one:
- can transition from MQL to SQL
- is cold and unlikely to convert
- requires more nurturing
The resulting scores are crucial to designing the process-outline for driving conversions. But flaws prevail!
SCORING GONE WRONG?
1. Unprioritized Leads due to lack of marketing and sales alignment: Lost sales when marketing and sales team do not agree on the definition of a qualified lead. No integration of CRM and Inbound marketing leads to unevaluated/scored lead interaction data. Wrong leads drained to sales team for conversions -> negative effects
2. Common Scoring for Behavioral & Demographic values: Treating explicit (target fit) and implicit (sales readiness) data points in the same way is misleading. Scoring them commonly generates incorrect lead scores ->Wrongful nurturing -> leaked leads
3. Ignoring Third-Party Intent Data: Losing on digital lead clues from social media, online communities, B2B publishers, and 3rd party websites results in low lead volumes and lost opportunties.
4. Inaccurate data: Untracked, outdated, unstructured and unreliable data distorts lead scores to a great extent.
5. Inaccurate lead information: If the explicit and implicit lead information is incomplete or obsolete wrongfully qualified leads are generated.
6. 3 Scoring mistakes:
- Over scoring (Score inflation): Adding points to lead activity irrespective of time taken to engage unjustly amplifies scores and leads to incorrect targeting.
- Only +ve scoring: Sometimes, incorrect attributes, are positively scored, for instance Personal contact Vs company contact Decision maker v/s influencer
- No Scoring: Wasted sales expense and time on low grade leads
Such erroneous scoring quantifies disqualified leads as qualified and vice-versa.
7. Ignoring lead score decay: If the prospect is idle for sometime, score values should be deducted. Not grading their real-time inactivity/activity keeps values static and unreal.
Without precise lead scoring, there cannot be precise lead engagement. All prospects and leads aren’t in the same stage of buying journey. Some may be closer to conversion while some might just be researching. Treating them as same doesn’t bode well for effective lead management.