In this section
Lead scoring is the process of assigning a numerical score to each lead generated for a given business. This process helps the sales and marketing team prioritize leads, respond appropriately, and increase the customer conversion rate.
Objectives
- Assess the likelihood of final conversion for new leads
- Conduct an analysis of new leads
- Identify the best business opportunities based on the user’s interest and engagement
A company may have many potential customers, but most of them will not ultimately become actual customers. In any case, every sales team has to review a long list of prospects and determine how to allocate its resources. Lead scoring provides a system that analyzes the attributes of each new prospect in relation to the likelihood that the lead will actually convert into a customer, and uses that analysis to qualify and rank all prospects. With this new ranking, the sales team can prioritize its time and focus only on prospects that are highly likely to become paying customers.
What we do
Score new customers based on each one’s likelihood of ultimately purchasing a product or service
How we do it
Initial data review
The lead scoring process begins by identifying the information generated by both current customers and former customers. It is important to identify the variables that have the greatest impact on both successful purchases and unsuccessful customers.
Model implementation
Once the problem is defined, we apply a model to this dataset. The model evaluates the relationship between various attributes associated with customers, prospects, and the identified behavior (i.e., the customer’s purchase) and scores them based on their propensity to achieve the identified behavior.
Visualization
The results are presented in dashboards and KPIs for analysis, which in a data-driven environment will form the basis for decision-making in upcoming actions and campaigns.