Friday, October 27, 2017

Word of the Day: lead scoring

Word of the Day WhatIs.com
Daily updates on the latest technology terms |October 27, 2017
lead scoring
In the B2B industry, lead scoring is a ranking system used by sales and marketing departments to quantify the likelihood that a potential customer will make a purchase. The value of each lead varies from company to company but is generally characterized by the amount of interest a potential customer has shown in a particular company or product line.

In a point-based system, value is expressed as a number. In a categorical system, words such as "hot," "warm" or "cold" may be used to denote value. Leads with the most value are typically passed off to sales departments, while leads with lesser value are passed on to marketing for nurturing.

When determining what data should be used for lead scoring, companies often use historical data from past marketing automation efforts, calculating how many interactions it took before an interested lead actually became a customer.

Criteria for measuring interest might include visiting a showroom, requesting a brochure, responding to an email, visiting a website, clicking on an ad, filling out an online form, participating in B2B chat and following a company's social media content.

Quote of the Day

"Adding artificial intelligence to lead scoring can help companies increase sales by better prioritizing customers and aligning sales messaging and resources with clients." - George Lawton

 

Trending Terms

B2B
marketing automation
inbound marketing
clickthrough rate
sales cycle
demand gen

 
Learning Center

Where AI meets sales: The benefits of predictive lead scoring
Predictive lead scoring can help companies better prioritize customers, align messaging and determine ways to guide a sales strategy.

Predictive lead scoring among new Sales Cloud features
Predictive lead scoring in Salesforce Einstein will mine customers' web history and interactions to continuously determine their engagement level.

AI integration with CRM tools boosts lead scoring processes
As AI technologies continue to build steam, AI integrations with CRM platforms are helping sales teams reap the benefits with predictive lead scoring.

Lead-scoring models to generate better sales information
Lead-scoring models help sales comb through data to generate better, more qualified and more mature leads.

If you need to close more deals, consider predictive lead scoring
With predictive lead scoring, companies can make sales cycles more productive and identify the most promising prospects, converting them into customers in less time.

Writing for Business

Neither the CEO nor the CIO _____ contributing to their company's B2B blog.
a. is
b. are
Answer

 

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For feedback about any of our definitions or to suggest a new definition, please contact me at: mrouse@techtarget.com

 

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