WOW Analytics. The art of lead scoring

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1 WOW Analytics The art of lead scoring

2 The art of lead scoring Introduction The single purpose of lead scoring is to ascertain differing degrees of interest or purchase intent based on web site visits over time. Long gone are the days of contacting a visitor based on a single click through from an campaign. With the explosion of content marketing web visitors will come thick and fast simply to red / digest the content you have published (which lets face it is why you did it) the majority of content chasers are not prospects or leads they are simply interested in the content you have provided. In a world where the marketers job is (amongst other things) to use digital channels to help establish a strong pipeline of leads to the sales team. So in essence the role of lead scoring is to spot web traffic that is not just helping themselves to content, and when a lead is established what is the quality of that lead. For the record, quality is defined as is a lead who is more likely to become a customer compared to other leads based on their demographic information and their activity on your site before they become a customer. Important considerations It is important to ascertain what a lead means to your company, so start of by meeting with your sales managers to determine which demographics, activities and behaviours should determine a marketing qualified lead. For example which demographics are more likely to buy than others? What job functions do they hold, are they typically from small or large businesses? Below are a couple of things to consider when defining a lead. Role/Job Title Company Size/Number of Employees Company Type/Industry After this we then look at behaviours on your website that indicate buying behaviour or serious interest. You need to understand which events on your site lead to the highest close rates (those that become customers) as well as which activities led to those events. As with the above hare are a few things you should consider has indicators of high interest: Requested a demo Viewed a certain type of page (i.e. high value product page) Specific interests / early indicators (e.g. content downloads like whitepapers, case studies and event registrations) vs. more qualified interests / serious indicators (e.g. pricing pages or a free trial request) 2 The art of lead scoring

3 Practice of lead scoring Now you have the ground work done and a criteria agreed upon you can enter into the practice of lead scoring. However you must consider that in a B2B world a lead is the organisation that you would enter into a contract with, because of this the aggregate score of all the contacts in an organisation should be generated. Company score (aggreated) Individual contact score Time is a huge influence on lead scoring and we don t mean time on page. This is a consideration based on the length of time of sales cycles. For example a company that score 100 points 12 months ago suddenly come back on the site. It is important to know that they have visited before, but the previous points scored should not be as relevant in assessing their current lead score. The digital sources that drive web site visits are imperative. Only with this can a marketer plan the future and achieve the best value for the marketing budget. The great news in with the prolific rise of Google Analytics, the industry has created a standard classification system for inbound links. Google UTM values are used to identify each inbound link. We have provided a version on this: WOW Analytics Ltd 3

4 UTM values The three mandatory tags are for your own benefit as they drive the analysis that every marketer will look for. With two extra tags for those who want a greater level. As you can then see below the benefit comes in the analysis of your high scoring leads, by either campaign (below diagram) or indeed through medium (right diagram). Page scoring You now need to determine what score makes a lead sales-ready and to do this we look at page scoring. This should be an iterative process that should reviewed every 12 weeks. It s also worth noting at this point that any new page added in the future is given a default of 1 point, so don t forget to assess new pages for their sales and marketing worth. 4 The art of lead scoring

5 It is also important to remember the point of lead scoring and therefore page scoring is three-fold: One, to avoid your sales department harassing leads before they re ready to buy Two, to allow marketing to identify leads who need to be touched with more lead nurturing To support and increase the efficiency of your sales team so they can work on the leads who are sales-ready What s the score? The key consideration in page scoring is the lead definitions and classifications you create. For example we recommend a lead is ready for telephone engagement at 50 points (and thus hot) having used the following classification of pages and points. The lead classifications here are fed by the following page score philosophy. Inside of the site navigation we are looking for consistency of URL convention so that we can quickly introduce page score on mass. In the above example the products area generally would carry 10 pts per page, this is easily added by a group update on all We have bracketed them into chillies as all sales people use the term hot lead, therefore each lead is depicted by chillies the more chillies and the redder they get the hotter the lead! Page type Home page: News / blog posts: Product pages: Downloads: Key sales pages: (wild cards) Points 0 points So with the implementation of the mass scoring system complete we now need to look at the wild cards. These are your highest value digital assets, where visiting these single pages will generate nearly 50% of a hot lead score. However, don t just consider the single page asset but also look at the navigation to arrive at it; remember that the previous page visited will also have carried a score. For example on our site we are keen to see people who are interested in a demo, but probably want to watch a video rather than speak to a person. So the following search on the site URLs for the word demo shows us the key pages. WOW Analytics Ltd 5

6 We globally apply 22 points to each page in the search results to save time. Please beware that lead score totals are live counts so when you change page scores up or down it will effect your total lead count. Don t just score, categorise also In addition to page scores we also establish a category. The role of the category is to subdivide behaviour but more importantly to trigger re-marketing (see Continuing the example in our site navigation the products area carries all product pages so everything with in here has a minimum of ten points. However, we cover several categories such as CRM integration and marketing automation. Thus although the points are the same the categorisation is different. It is also worth noting at this point that a single page can live in more than one category. Multiple visits Where as many web analytics tools that simply tell you that a company is on your site. Lead scoring allows frequently visiting companies from multiple contacts at multiple locations all roll-up to the company account record increasing the total count. This factor may lead you to re think the points you score for pages and or the total at which point you telephone engage or remarket. For example James at companya.com visits the CommuniGator web site to read a blog he received an about. Because the visit came from an click his entry to the blog site is direct and thus the visit scores two points. However, while on site he sees in the navigation marketing automation and clicks through on to that page. The blog site scored 2 pts and the product page scored 10. So James as a contact now carries 12 pts in total as does CompanyA.com. A week later James colleague Tim (in the Manchester office) Googles for marketing solutions and onto the CommuniGator home page. From the home page the onsite navigation takes him straight to the marketing automation page. Based on this activity Tim is now carrying 10 lead points. However, because we know the IP range that CompanyA.com broadcasts to the internet we can see they both work for the same company and so the lead score for the company is now increased to 32 pts. This moves them from lead band 2 (two chillies) to lead band 3 (three chillies). 6 The art of lead scoring

7 Déjà vu? It s remarketing To continue this example with remarketing the movement of the account to lead band three marks them ready for remarketing. As such all contacts in the account are automatically sent three s espousing the virtues of CommuniGator and its skills, reinforced by customer testimonial and third party endorsement from Smart Insight (one of our affiliate partners). The second in a series of three is clicked on by Tim (he was offered a demonstration) from the click he is driven to the demo page. This page was wildcard scored at 22 pts. While Tim is watching his video demonstration, the CRM contact record is updated with the increased lead score. As the lead score is now over 50 pts and ready for telephone engagement, CRM workflow automatically schedules an activity for the sales person of the CRM record for companya.com to call. Before the call the full browsing history of each contact at CompanyA.com is available through CRM to prep the sales person for the call. Final thoughts Lead scoring and (lead management as a whole) should be the shared member acts as the conduit between your marketing and sales teams. If implemented correctly not only should your sales process quicken, but the two departments will become less disjointed. With that in mind look for a system that is fully integrated into all of your other marketing tools, from your lead generation activities, marketing, social media to your analytics and CRM systems. Let us show you the leads you didn t know were on your website Start seeing new leads and even nurturing them effectively based on their behaviour on your site. Sign up for a free trial WOW Analytics Ltd 7

8 About WOW Analytics WOW Analytics was founded in 2008 by Lee Chadwick and Aaron Yates. Both work in senior IT positions in high profile technology companies. During the last few years, they have been researching, testing and creating web analytics solutions for B2B companies, using the best technology to accomplish the markets needs. WOW Analytics Version 2.0 is a powerful web analytics and lead generation tool which has been successfully implemented into the market through its user-friendly design and advanced sales and marketing functions. The platform offers you real time data feeding and powerful lead scoring capabilities, allowing you to get more from your online investments, and ensure that you never lose another online prospect. To find out more visit us at or info@wowanalytics.co.uk If you have any questions please give us a call: WOW Analytics Ltd, The Old Byre, Peper Harow, Godalming, Surrey, GU8 6BQ, UK. Tel: info@wowanalytics.co.uk Company Reg Copyright 2014 WOW Analytics Limited All rights reserved.

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