LEAD SCORING WITH AI
What is Lead Scoring?
Lead Scoring is a methodology that determines the worthiness of a potential customer by attaching a value based on their profile and behavior.
For instance, if you're selling productivity software to sales professionals in the United States and you're generating email signs up through the completion of an online form (like this one!) a lead will score high if the potential customer indicates he or she lives in the United States and works as an "account executive".
Conversely a lead will score low if the person who completes the form is based in Sweden and works as a professional musician. Typically lead scoring is performed by a marketing team to help sales professionals prioritize their activities.
While most sales and marketing teams use marketing automation platforms such as Pardot, Marketo or Hubspot to automate their lead scoring, it's important to distinguish two different ways of scoring leads:
1. Traditional or "rules-based" lead scoring: the scoring and ranking is set manually based on set of rules on a "IF this, THEN that" basis. For example, IF job title = "Account executive", THEN score lead highly.
2. Predictive or "algorithmic" lead scoring: instead of scoring a lead on a manually defined set of rules, a mathematical model examines the attributes of a "good" lead and infers the quality of all other leads to predict and rank their likely hood to close.
The Problem with Manual Lead Scoring
Since a lead's activity with your company or brand can change from day to day, their individual score will also change over time. Therefore lead scoring isn't something that's easily done manually. Moreover, it can be that lead scoring is done on the basis of assumptions that don't hold true, or that don't correspond to the entire leads. As result, predictive lead scoring removes the ambiguity from the scoring criterion you've established. And when the lead criteria change, the scoring criteria too.
68%* of successful sales and marketing professionals cite lead scoring based on content and engagement as the most effective tactic for improving revenue
Cien is a sales productivity app that uses artificial intelligence to help sales and marketing teams improve lead scoring, increase win rates and accelerate sales cycles.
* Spear Marketing (2015)
By improving your lead scoring model you’ll generate:
The Cien App uses Artificial Intelligence to see beyond your lead scoring model and understand the true dollar value of your leads.
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