Start Converting More Leads with Qualifying Leads Scoring Analysis
Converting leads to sales is what drives every business. More accurately, qualified leads drive a business’ net profits. Yet organizations large and small don’t fully understand a leads’ true ROI. The distinction between a prospect and a lead is quality; quality and likelihood to purchase can be readily discerned by lead scoring analysis. Identify your greatest opportunities, understand how lead scoring works, put that understanding into action, and call if you’d like lead scoring experts to quickly and affordably rank your leads.
Every company with a sales and marketing team needs to identify their greatest opportunities and determine which prospects are most likely to purchase. Now is the time to focus your sales and marketing efforts and increase your conversion rate; propensity to purchase analysis (also called leads scoring) can give your organization that needed focus.
How does a propensity to purchase analysis (leads scoring) improve conversations? The best way to analogize the propensity to purchase analysis is to think of your FICO score (your credit score) calculation. Several characteristics—payment history, amount owed, types of credit, length of credit history—are all used to calculate your FICO score. Higher scored individuals are a better credit risks (more likely to repay) while lower scored individuals are poorer credit risks (less likely to pay). Similarly, a prospect’s likelihood to purchase your product or service can be calculated with characteristics such as transaction data, personal or business demographic information, geography, and size of an organization. Those with higher propensity scores are more likely to purchase your product or service, while those with low scores are least likely to purchase. Giving loans to everyone equally would is a waste of money, much like treating each prospect equally is a waste of the salespersons resources.
Now put highest ranked leads into action. Whether you have a prospect list for outbound calls or you’re deciding which current customers to invest your precious marketing resources into, ranking those prospects and customers from high to low will generate a significantly higher conversion rate while saving you time and money by not wasting your resources with those at the bottom echelons of your list.
Your competitors are focusing on those likely to purchase—what are you waiting for?