Did you know that 79% of marketing leads never convert into sales due to a lack of effective lead nurturing ? This statistic highlights a significant challenge faced by many businesses. Without a robust strategy potential sales opportunities are often lost, resulting in wasted resources and efforts.
HubSpot stands out as a top-tier platform offering a suite of tools designed to capture and manage leads effectively, ensuring that more prospects are guided through the sales funnel successfully. This article will explore how to maximize your use of HubSpot to capture valuable qualified leads and drive conversions and capture valuable contacts. by using hubspot tools like forms, landing pages, Meeting links, Chatflows, ads integration.
Understanding lead scoring in HubSpot
- Defining Lead Scoring: What it is and why it matters
Lead scoring is a methodology used to rank leads based on their likelihood to become customers. By assigning point values to various criteria, businesses can identify high-quality leads that are more likely to convert. This process is essential for focusing efforts on the most promising prospects, saving time and resources.
HubSpot's lead scoring system uses a numerical approach where positive attributes add points to a lead's score while negative attributes subtract points.
For example, a lead who downloads a whitepaper may receive additional points, whereas a lead who unsubscribes from your email list may lose points. This scoring helps in creating a comprehensive profile of each lead, making it easier to identify those who are most likely to convert into clients.
- Type of scores :
1) Engagement scores: It helps you qualify and measure the level of engagement of your contact or company based on their behaviours and interactions.
2) Fit score: It allows you to qualify records how likely they align with your ICP ( ideal customer profile ) based on their demographic information through property values, such as their age, job title, company size, or annual revenue.
3) Combined scores (available for Enterprise subscription only): qualify records based on engagement criteria and fit criteria. These scores populate a combined score value that looks at both actions and demographic information.
A step by step guide to set up lead scoring in HubSpot
Setting up lead scoring in HubSpot needs to have the following subscription Marketing Pro or Entreprise, here is a step by step guide to set it up :
1- Navigate to the marketing section and select Lead Scoring. If you meet the requirements and it isn't visible in your portal, check the Beta section under product updates.
2- Click on Start from scratch if you are looking to set up your scoring manually
3- Choose who you'd like to score and how you'd like to score them
4- At the top of the editor, enter a name for the score and click on add event group to start building the score
5- Define event criteria that will influence the score. You can group related events together and establish a cap on the points these events can contribute to or deduct from the score.
- Score all : all of your records (companies/contacts) will receive scores. To exclude certain contacts/companies, click the dropdown menu and select lists with the records you don't want scored.
- Score specific : score records ( companies/contacts ) only if they're members of certain lists.
7- Navigate to the Settings tab to set up the score property and thresholds
To set up the property where scores will be stored, in the Score value section, edit the property's label, internal name, description, and property group.
To set color-coded score categories, click on Score thresholds in the left sidebar menu. An additional property will be created that labels a contact's score as High, Medium, or Low based on the thresholds you set.
Set the threshold values that decide the color and label a company or contact will have based on their score. Once your done Review and turn on.
Maximizing Your Sales Strategy with Lead Scoring Insights
Lead scoring insights can significantly enhance your sales strategy. By focusing on high scoring leads, your sales team can prioritize their efforts on prospects with the highest potential for conversion. This targeted approach not only increases the likelihood of closing deals but also shortens the sales cycle.
Additionally, lead scoring data can be used to tailor your marketing efforts. For example, high-scoring leads can be targeted with personalized content and offers, further increasing their engagement and likelihood of conversion. By integrating lead scoring insights into both your sales and marketing strategies, you can create a more cohesive and effective approach to lead management.
Common Challenges and How to Overcome Them
While lead scoring offers numerous benefits, it is not without its challenges. One common issue is the subjective nature of assigning point values to different attributes. To overcome this, it is important to base your point values on data and historical performance rather than assumptions.
Another challenge is maintaining the accuracy of your lead scoring system. As market conditions and customer behaviors change, your lead scoring criteria may need to be updated. Regularly reviewing and refining your lead scoring system can help ensure its ongoing effectiveness.
Finally, ensuring alignment between marketing and sales teams can be a challenge. Regular communication and collaboration between these teams are essential to ensure that everyone understands and trusts the lead scoring process.
Utilizing effective lead scoring in HubSpot provides a range of advantages, such as better targeting of qualified leads and increased efficiency in marketing and sales efforts. By continually refining your lead scoring strategy, your business can remain agile and successful. Begin implementing these strategies now to fully harness the power of lead scoring and boost your sales and marketing return on investment.
Need help to establish a full lead scoring strategy for your marketing and sales activities? Reach out to us here for an efficient setup.
