3 Metrics That Indicate a Lead is Sales Ready
No one likes wasting time. Especially sales reps around their leads. Reps want to know which leads they should be focusing their time and energy on and which leads are never going to convert. What “sales ready” means for a lead will depend on your organization, but there are three behavioral metrics that can indicate when a lead is ready to be pursued.
One very common way of identifying these “sales ready” leads is to use lead scoring. Using lead scoring points are assigned to prospects based on back-office data and behavioral actions. Once a lead reaches a certain score, that lead is ready to be passed to sales. Lead rank thresholds will depend on your organization, lead nurture efforts, and sales cycle. Let’s take a closer look at three specific behaviors that we like to use in our lead scoring model.
On- and Offline Behavior
You want to track when a lead interacts with your company to gauge their level of interest and assign points for actions. Opening an email doesn’t take as much effort as filling out a form, so perhaps you give email opens a lower point value than a form submission. Did the lead visit the website? Assign some points to show they’re active across channels.
Not only are online behaviors important to track, but off-line interactions are also important. Did the rep have a phone call or meeting with the lead? Assign points based on completing these steps. Maybe the lead called into the customer service line or opened a support case. All these touch points with your organization should be tallied and used in your lead scoring model.
Not only can leads be scored on whether they completed an action or not, they can be scored based on recency. Essentially, how recent did the on/offline behavior occur? Was it 7 days ago? 30 days? 90 days?
Score behaviors that happened more recently with higher points to indicate the lead is actively interacting with your company. Conversely, degrade the lead score if those behaviors slow down and occurred a while ago. The time frames and the point values assigned to the leads will depend on the length of your sales cycle.
Frequency measures how often the prospect interacts with your company in a specified length of time. Did the lead visit your website 3 times in one day? This shows high level of engagement that should be awarded more points. Again, just like recency you can assign negative points if the frequency is less.
Using the Data
Now that you have assigned points based on your back office data and actions, you can create your thresholds. The values and terminology used will depend on your organization. Many organizations use a standardized cold, warm, hot gauge. While other teams use labels to indicate which phase of the sales cycle they are in, such as “marketing qualified,” “sales accepted,” and “sales qualified". It doesn’t matter how you break it down,if the levels are uniformly understood and used across your sales and marketing departments. The point totals for each threshold will differ too.
The scoring model should be flexible so as you find out what works and what doesn’t you can adjust it. Additionally, you may want to ingrate your scoring model with a CRM to push any warm or hot leads to your CRM system. This allows your reps to focus on leads ready to engage with a rep to find solutions for their pain points.