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A repository of acronyms, jargon, and useful definitions perfect for eCommerce founders & marketers like yourself.
Lead scoring is a way for businesses to prioritize and categorize leads based on various parameters like their interest or behavior that helps to determine where leads stand in the sales funnel. You can segment new leads based on demographics such as geographic location, age, and gender. For example, if you have products that target Gen Z, then you might give leads of that age group a higher lead score as compared to elders.
A relevant lead score system that is up to you to define helps you to target the right prospects with the right strategy or message depending on their lead score. It helps you to identify the prospects that are ready to buy and how you should prioritize them first with appropriate strategies in place.
3 Pillars of lead scoring
Contact Information- This includes demographic information that helps you to understand a prospect’s quality or engagement as they enter your database.
Phone number/email address known
Interactions and behaviors- You can gather behavioral information over time.
Number of website visits/return visits
Type of form filled out
Negatives- Bad fit qualities that help you filter out non-prioritized contacts.
Unsubscribed from email
Competitor email domain used
Has not visited the site in 6 months.
Bad fit persona/sector
If someone matches your preferred persona, you can give them a higher score whereas you can give low scores to the bad-fit personas. This is how you can score your leads and decide a good fit for your company.
How to score your leads?
Product categories-You can score the level of interest of your leads based on how often they view your pages. If they view a particular product page quite often, then they might be interested in it and you can send your recommendations accordingly.
Frequency of visits- You can score your leads based on how often they visit your site. The leads who visit a specific product page every now and then should be scored higher as compared to the ones who visit multiple pages. This doesn’t mean that you should neglect them, you’ll just have to work on your strategy like sending them a pop-up or a chat message where you can answer their queries and help them find the product that they want. If they get in touch with you through chat or any form then you can give them a score based on their action and interest.
Shopping behavior- The shopping behavior of your customers also plays a vital role in scoring them based on the actions they take on your site. For example, a person who has added a product to their cart should be scored higher than someone who just browsed through the pages. Similarly, repeat customers should get an even higher score as they are more likely to purchase the products.