Five-Step Checklist for Implementing a Lead Scoring System with Online Events
Lead scoring for your online events is an easy way to achieve a high level of intelligence for your sales team about who is interested in learning more about what your company does and who is ready to buy. However, nearly 75% of those we surveyed do not have a lead scoring system in place. Following these five steps will quickly get you on the path to more sales and more revenue.
1. Have access to your data. This may seem fundamental but if you can’t seamlessly transfer the data generated from your webinar into your marketing automation software you will spend more time formatting and less time selling.
2. Remain consistent. There are five categories that your data should fall into: demographic, consumption, engagement, interaction and sentiment. Within each of these categories should be data fields that are consistent across of your events and do not rely on free text entries. Consistency will allow you to track leads across multiple events and create a clear picture of their behavior.
Bonus tip: The best way to maintain consistency is having single registration on your platform for all your online events. Single registration will not only create traceable profiles for each viewer but it will also encourage them to watch more content – repeated forms will force viewers away!
3. Understand what type of buyer you want to reach. Once you have your data fields set up, create a model that weighs each field with respect to your desired buyer profile. For instance, if you are interested in immediately sales ready leads give behavioral fields an 80% weight and demographics 20%. If you want to reach a specific type of buyer then flip the model and rely more on demographics than behavior.
4. Refine your approach. Creating a perfect lead scoring model for you company rarely happens on the first try. Track the scores of the leads that go to your sales team and are converted into revenue. Go back and increase the weight of each category depending on what type of lead is most receptive to your product.
5. Understand your timeline. Implementing a lead scoring program with online events can take only a few weeks from inception to implementation if you take a focused and targeted approach. With so many online event platforms on the market today, getting your online events up and running can be accomplished within a week. Choosing and implementing the CRM system that handles all the data from your online events needs a bit more time. Most vendors have enablement representatives that will walk you through the process and a month is a reasonable time to expect your first leads to be generated. Anticipate an additional week to solidify your data fields and refine your scoring model before high quality leads can be generated.
The payoff for creating a lead scoring system is a high level of intelligence for your sales team. Being able to identify a lead that falls within your target audience and how they specifically interacted with your content will increase your conversion rate and streamline your sales efforts. Lead scoring is a process that is often under utilized by marketers and sales teams but is well worth the effort to set a system up in order to streamline your sales efforts and increase marketing ROI.