Lead scoring is a powerful tool that can greatly improve your sales and marketing efforts. While many businesses use lead scores to prioritize outreach, there are several other effective ways to leverage this data. This article will explore five key sales and marketing strategies to maximize lead scores, drive growth, improve efficiency, and increase conversions.
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1. How to Maximize Lead Scores
The most common use of lead scores is prioritizing which leads your team should focus on. Whether it’s your customer service representatives (CSRs) making the first contact attempt or your sales agents managing their lead queues, lead scores help determine who to work with next.
Key Benefit: By using lead scores to prioritize, your team can spend time on leads most likely to convert. This improves sales efficiency and ensures your team works on the highest-value leads.
2. Distribute Leads Equitably
Another often-overlooked use of lead scores is equitable lead distribution across your team. If your focus is on fairness and ensuring all agents have an equal chance of success, lead scores can help.
How It Works: You can use lead scores to make sure each team member receives leads with similar values. This promotes fairness while allowing you to measure performance. If some agents outperform on lower-value leads or underperform on higher-value leads, it’s an opportunity for additional training and support.
3. Identify Gold in Your Aged Lead Database
Leads sitting in your database for 30, 60, or 90 days might not seem valuable at first, but they could hold hidden potential. Over time, leads engage in activities that provide more data. By analyzing these activities, you can update lead scores and find high-potential leads among those you initially thought were less valuable.
Example: A lead that’s been inactive for 60 days but recently visited your website or opened several emails could be worth re-engaging. With updated lead scoring, you’ll know whether it’s worth going after that lead again.
Read more about how to use Predictive Lead Scoring here.
4. Focus on Portfolio Retention
Lead scoring can help with portfolio retention in mortgage, auto lending, and insurance. It’s essential to know which customers are likely to transact again—whether they’re about to leave for a competitor or are ready to re-engage with your business.
Use Case: In mortgage lending, for example, you can identify borrowers who are likely to refinance or seek new loans. By using lead scores, you can focus on retaining these customers before they move to a competitor. The same approach works in auto lending and insurance, where cross-selling opportunities are key.
5. Do More with Less by Targeting Isolated Pockets
In industries with limited resources, lead scoring helps you maximize efficiency by identifying high-potential groups of leads. Instead of spreading your team thin across many low-value prospects, lead scores allow you to zero in on smaller, more valuable segments.
Result: You can increase your activity and conversions within these smaller groups, all while conserving resources. This strategy ensures that your team spends its time where it counts most.
Start Improving Your Sales Efficiency with Lead Scoring
Lead scoring helps you prioritize leads to retain valuable customers, and offers many ways to boost your business. Whether you’re in mortgage, auto lending, or another sector, adopting these sales and marketing strategies will help you make smarter decisions, improve efficiency, and increase conversions.
