Lead generation is the life-blood of any B2B company. If you're serious about generating ROI though, it’s no good just generating leads; it’s what you do with them that counts...
B2B lead generation is just the first step, the end-goal is to actually make a sale, right? That's where the return on your investment happens. Like sorting out your overflowing wardrobe, maybe it’s time to go through your pile of leads and take some of them to the metaphorical “charity shop”?
To use the proper term, this exercise is called ‘lead scoring’.
Lead scoring is ultimately a way of determining how serious a lead is about buying your service or product. A recent article in Business 2 Community put it nice and simply. It all boils down to two things: Fit and Engagement. When you decide on a lead’s fit, you’ll base your decision on factors such as their industry, job title, company revenue, location, budget etc. to determine if it’s a good or bad fit.
So how do you measure and score engagement – a prospect's level of interest in buying your product or service? A good way to figure this out is to take a look at how they're interacting with all of your marketing activity as they come into your nurturing funnel. Look at their response to marketing programs, social media shares, online activity, resource downloads, etc. Maybe you'll add multipliers to your lead's score based on how often they revisit certain pieces of information, and whether more than one prospect from a target company becomes active.
It's easy to over-inflate your pipeline lead figures. Our advice is don't. It may give you some big numbers to report on in the short term, but over time your credibility will crumble. To shamelessly mis-quote an old accounting saying "leads are vanity, sales are sanity".
It's never an easy exercise to get right, but if you're serious about robustly measuring ROI, then it's worth it. And if you need any help, call us, we'd love to help.
Kevin Mason - Director of Digital and Strategy