The convergence of tighter budgets and emerging media including social networks and mobile means marketers have both the need and the ability to effectively identify and target their prospects. According to a recent ResearchCrop study, however, less than 10% of B2C businesses do so.
Begin with the Basics
Using real-time lead scoring data allows businesses to more accurately pinpoint their prospects and, by doing so, improve their conversion rates.
Instead of real-time lead scoring, the majority of businesses still measure and track their sales funnels using spreadsheets. In addition being stagnant, spreadsheet data is not intuitive, whereas real-time systems give decision-makers the ability to more accurately identify their top prospects and tailor their efforts accordingly.
In short, data that resides in the vacuum of a static spreadsheet is worthless. It is far more valuable for businesses to understand what makes up a lead score that to simply know the score itself.
The elements that ultimately make up a lead score can include information about a prospects attitudes, values, lifestyle and interests in addition to their need for your particular product or service. Only by obtaining this peripheral data can your business identify the ideal prospects and accurately target your marketing message and medium for them.
The first phase of an effective real-time lead scoring process involves prioritizing the leads within your existing call queue, optimizing lead sources and identifying the prospect’s likelihood to buy and identifying the appropriate marketing channels to be used.
The result is that your top inbound prospects receive priority placement in your call queue, which leads to lower abandon rates and a better overall customer experience.
Having a broader understanding of your prospects will also allow you to match them with the ideal sales agent based on that agent’s product knowledge, skill level and personal attributes.
Assign the Right Agent to the Lead
It is generally more effective to route your top prospects to more experienced in-house agents with higher closing rates. Leads with lower scores can generally be routed to outsourced agents or those with lower conversion rates.
Research has shown that some prospects convert well regardless of the skill level of the agent they speak with.
Through your initial research, you will be able to identify these prospects and route them to less experienced agents, thereby freeing up your top closers to contact leads with a lower likelihood of converting.
Customize the Customer Experience
Customizing your messaging based on your prospect’s stated preferences can lead to higher conversion rates, lower costs and more efficient and effective lead nurturing. It can also improve the customer experience and improve retention rates.
Once you have had repeated success in your lead scoring and custom messaging, your business can begin testing various cross-selling, up-selling techniques as well as custom product offers and scripts.
Customization of messaging and offers makes customers feel that they have received special attention in the sales process and makes them more likely to purchase again in the future.