Lead Scoring is a tool used to automate the qualification of your Lead Base.
Based on automatic evaluation of the characteristics of each lead and how they interacted with your campaigns, RD Station Marketing assigns a numerical value (score) to each lead. This score allows you to determine whether a lead is ready to be approached by your Sales team or not.
What is the ideal lead profile for your business?
A crucial aspect of this feature is to determine whether a lead has the adequate profile to purchase your product/service. In practice, Lead Scoring classifies your leads into 4 different profiles: A, B, C or D, with A being the most ideal profile.
The profile is related to demographic characteristics of leads, such as job title, age and industry. These data are collected whenever a lead fills in one of your forms.
See the example below
Lead Scoring is set up as follows: the Job Title field has a weight of 100%, while the State field has a weight of 50%.
When determining the weight of each field, you must also determine the score to be assigned to each possible answer:
In the image above, the State field responses are scored as follows: SC is assigned 10 stars, RJ 5 stars, and SP only 1 star.
The responses for the Job Title field are scored as shown in the image below:
Based on these settings, a profile is assigned to a lead according to the following equation, where the real weight of each field is calculated based on the total weight of all fields combined. For example:
- The total weight is the sum of the weight assigned to Job Title (100%) plus the weight assigned to State (50%), adding up to a total of 150%. Therefore, the real weight of the Job Title field will be 100% divided by 150%, resulting in a real weight of 67%. Based on that same rule, the real weight of the State field will be 33%. The real weight of both fields combined should add up to 100% (67% + 33%). You do not have to worry about having your field weights add up to 100%. RD Station Marketing will take care of that for you.
- A lead's profile score is equal to the real weight of the field multiplied by the score of the lead's response for that field. A lead whose job title is president (10 stars) and lives in the State of RJ (5 stars), for example, will have the following calculation:
67 (real weight of job title) x 10 (number of stars for job title of CEO) = 670 + 33 (real weight of state) x 5 (number of stars for RJ) = 165 = 835
Therefore, the profile assigned to a Lead depends on the Lead Score (835) and the following scale:
- 0-249 = Profile D
- 250-499 = Profile C
- 500-749 = Profile B
- 750-1000 = Profile A
Thus, based on the values above, a lead with the job title of president that lives in the State of RJ is considered Profile A.