Lead Scoring In Hubspot
Setting up a lead scoring system is a marketing tactic that all businesses should be aware of. A study by Marketing Sherpa discovered that lead scoring boosts conversion by 79%, and creates a 77% increase in lead generation ROI. It’ll streamline your sales process, and make it easier to determine how to address consumers in all stages of the customer journey. In this guide, we’ll break down what lead scoring is and how to utilize it within Hubspot, one of the biggest marketing platforms out there. Boost your lead generation by segmenting your audience into ideal and less than ideal customers.
Hubspot is an excellent platform for marketing and contact management. You can easily set up parameters for your lead scoring marketing efforts. Doing so manually takes up precious time and resources, and you often lose track of how to address consumers during the customer journey. Hubspot lead scoring keeps all of your lead scoring efforts in one place, and offers you great filtering options so you can build out your own template (We’ll discuss this later).
Why is lead scoring so important?
A Gartner study discovered that 70% of leads are lost due to poor follow-up. Lead scoring makes it easier to support these leads by identifying how likely they are to interact with your brand, and ultimately purchase your product. This also determines your lead nurturing strategy, which can improve conversion rates by 50%.
Lead scoring marketing is the practice of assigning values to different customers based on custom parameters. We’ll give you an example:
- Customer 1 is really interested in your business. They click through emails and have visited your website several times.
- Customer 2 is a little wishy-washy. They ignore your emails and don’t interact with your retargeting tactics.
Then, you determine how to address these points within your sales funnel. Customer 1 should be ranked higher than Customer 2 when it comes to determining your next sales strategy.
How do I set up lead scoring in Hubspot?
If you’re a Hubspot marketing agency, you’re already familiar with their tools and how simple they are to use. However, there are steps you must take before even considering setting up your own lead scoring marketing template in Hubspot. That is, you must define the parameters by which you score your leads. We offer a free template at the end of this article for you to use, but let’s see what makes that template tick.
Define your parameters
Defining your parameters is crucial to crafting a Hubspot lead scoring system. By this we mean, determine the point values for different things a customer is doing. For example, you want to assign 30 points to people who visit your website more than once. This would be reflected in your lead scoring.
Other potential scoring criteria to consider include instances such as a lead opening your emails, filling out a contact form on your website, or putting items in their cart. You must also consider demographic information.
Consider demographic information
This is a little different than just defining your parameters for your lead scoring template. You’re not measuring lead score based on their interactions with you, but based on their demographics. For example, if you sell suntan lotion you might want to assign more points to people living in states with warmer climates. This applies to any demographic information you can think of: gender, age, education level, and more.
How to implement in Hubspot?
Your Hubspot marketing plans should include lead scoring no matter what. Hubspot makes it easy to set up lead scoring. Professional and Enterprise accounts both have access to lead scoring software that goes beyond Hubspot’s default score contact property. While this default feature works well for many businesses, we’re talking about how to implement your custom sheet.
Hubspot’s interface is simple to use. You just navigate to your Settings, then Properties, and find Hubspot’s score section. From there, it’s as easy as adding positive and negative filters.
You can add up to 100 filters to your score property, which is great because your lead scoring template should be as precise as possible. You can even test your score criteria to ensure you’re assigning the right points to the right actions.
Inputting this into Hubspot streamlines your efficiency, because both your sales and marketing teams are united in seeing this information. If you have a sales team that knows what leads to pursue, and a marketing team that knows how to more aggressively market toward those leads, you’re naturally going to see an improvement in your sales.
How to utilize a template?
Now that you know why lead scoring is important, and how to determine your lead scoring practices, you’re ready to set up a template. You want to include important data such as score assignments and relevant criteria. Try to be as specific as possible when it comes to determining your lead scoring criteria. Your Hubspot lead scoring setup should have narrowed, specific qualifications for leads.
Need a little help finding the right direction? We have a free template that you can use to get a feel for what your lead scoring tactics should be aimed at. Feel free to customize the template to suit your individual needs. However, these are very important criteria to consider when developing your lead scoring strategy.
You can start building out the lead scoring template that makes the most sense for your business here.