From the outside, it might look like lead scoring can be a big investment- both time and money wise.
Purchasing software, implementing changes, training staff and maintaining the leads you already have are just a few reasons why some companies haven’t yet started using lead scoring.
Saving Money With Lead Scoring
But with all of that said and done, it is a change that saves companies many more hours of labor for years down the road, and that makes a big difference. How does lead scoring save money?
Lead scoring allows your sales team to only spend time on the most promising leads.
Instead of reaching out to every person who enters the system, your team can focus on those that have engaged in certain activities and are more likely to become sales.
Imagine if you have a close rate of 30%, that means with the other 70% of the leads you are largely wasting time.
Focus on the Most Promising Leads
When you have a lead scoring system in place, those 70% of leads will come in with a very low score, and the other 30% will have a high score. Instead of wasting 70% of the time, they can focus on the 30% instead. When your sales team saves 70% of their time, what other activities can they do to improve sales?
To be honest, every company will have a different percentage of closed sales- some have a much higher lead to close rate and some have a much lower one.
When you have an automated system though that includes lead nurturing, scoring and management, the cost to implement all of these changes, will make a big difference to the investment necessary to handle sales.
Initiating Other Sales Opportunities
Immediately you might think a change like this will allow you to lay off part of your sales team, or even require less time in marketing. This does not have to be the answer.
Instead these people are already trained on your products and services and they can handle other activities such as trade shows, regular blogging, outbound marketing efforts or follow up sales opportunities that are currently being ignored.
The point is, with this amount of time savings, massive changes can be made to feed the sales funnel and close more deals than before- increasing revenue.
What other questions do you have about lead scoring? Leave your comments below, or contact us privately to get the answers you need.