If your MSP marketing leads are not turning into big-dollar conversions, you are not alone. Having sales leads is one thing. Converting them to actual paying customers is another matter. Here’s a look at whether scoring sales leads is a strategy worth considering:
Legitimate or Illegitimate?
If you were to closely analyze your leads, you would likely find few of them are of considerable quality. According to Gleanster Research, merely one-quarter of all leads are legitimate. This means three-quarters of all leads should never make it to the sales team. In fact, more than 60% of those who request information about your organization will not purchase your services for at least three months.
Slightly less than one-quarter of these seemingly surefire leads will take more than a year to buy. The separation of legit leads from those lacking in quality is the challenge. Scoring leads might be the answer.
About Lead Scoring
Lead scoring is a means of ranking sales prospects against a scale that indicates the perceived value of prospective leads. Information about the prospect and his or her company is used to form a point system that identifies each prospect’s chances to be converted. It seems like a useful system. However, lead scoring is not always the optimal solution.
Why Lead Scoring Might not Work
If your MSP marketing team isn’t receiving a considerable number of leads, scoring the leads you have does not make sense. There has to be a good amount of value coming your way in order for lead scoring to prove useful.
Establish a Data Launching Pad and Begin Scoring Your Targets
Once your volume is higher, you can establish a scoring system. Data volume and quality will be your primary concern. If you lack substantial data on your leads, implementing a scoring system won’t prove helpful. You need data to identify common behaviors and form a meaningful scoring system. Be sure to incorporate your sales and marketing teams during this process. A marketing automation platform will provide valuable information about website visitors. This data will help you track specific information like pages visited, time spent on site, downloads and so on.
It might take upwards of five attempts to connect with a sales lead. Do not limit your sales attempts to a single phone call and a follow-up email or second call. If your sales team is not executing, you won’t have the volume of prospects necessary to score your leads.
The Role of Marketing and Sales
Your marketing and sales team will establish your lead capture forms to gather important data. Aside from contact information, lead capture forms can also provide information about the prospect’s title, company size, industry, etc. A qualification question can also be added that provides more information about prospect needs and points of interest.
Define Marketing Qualified Leads (MQL)
Defining MQL leads matters whether you use lead scoring or proceed without it. Pinpoint the perfect attributes for your leads so your sales team knows exactly how to proceed.
Mind the Activity Time
A prospect who visits your website one time might not be ready to speak with a sales rep. Even someone who downloads information might not be close to converting. Examine your prior leads that converted to solid opportunities. Analyze the visits and downloads of this group for more insight.
The Point System
Once the right criterion is identified, assign points to each. Weigh the values of attributes based on how they impact the sale readiness of a lead. Select a threshold score that indicates the lead is sales qualified. You can also establish additional thresholds for various purposes. Tinker with the weighting and score thresholds until you have the perfect system to separate low and high-quality leads.
Proceed with care as you develop your MSP marketing strategy. If you have a decent amount of volume, scoring your leads makes sense. Gather as much information as you can, analyze it from different angles and learn as much as you can about your target clients. Give scoring a chance and it will make the conversion process that much easier.