Lead Scoring reviews by real, verified users. Find unbiased ratings on user satisfaction, features, and price based on the most reviews available anywhere.
Lead scoring software is used by companies to determine the potential of each business opportunity. By using this type of software, companies can create scales and benchmarks to rank prospects against. A sales team’s time can be valuable and leads can be numerous, so lead scoring software can help teams focus on those lead opportunities that are most likely to convert into sales. Driving focus on high-potential leads can help salespeople save time they would have spent on less valuable leads, and with that time they can craft better messaging when approaching customers with higher probability to close.
Before they score leads, companies need to capture them first. In order to deliver optimal results, lead scoring software needs to be used with software used by marketing and sales, such as lead capture, landing page builders, or CRM.
To qualify for inclusion in the Lead Scoring category, a solution must:
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Lead scoring software is used by companies to evaluate the sale potential of each business lead or opportunity. By using this type of software, companies create scales and benchmarks to rank prospects against. Lead scoring software helps teams focus on lead opportunities that are most likely to convert into sales, thus saving time. Driving focus on high-potential leads help salespeople save the time they would have spent on less valuable leads, and with that time they are enabled to craft better messaging when approaching customers with higher probability to close.
Lead scoring software assigns values or numerical "points" to each lead a business generates. Leads can be scored on multiple attributes, including the professional information they have submitted to a company and how they have engaged with a website and brand across the internet. This process helps sales and marketing teams prioritize leads, respond to them effectively, and increase the rate at which those leads become customers.
Key Benefits of Lead Scoring Software
Organizations use lead scoring software because it is a key component in an efficient marketing and sales process. By assigning scores to leads, companies determine which leads are ready to send directly to sales and which leads still need to be developed by the marketing team. This practice not only provides sales teams with better-qualified leads but also streamlines communication between the two departments. Further reasons businesses use lead scoring software are noted below:
Analysis — Lead scoring software analyzes which leads should be prioritized and then accelerates them up the sales pipeline. The software also matches and assigns leads to the correct sales representative and aligns lead scores with predefined lead distribution criteria.
Scoring management — Lead scoring software reports on and analyzes lead scores to determine the conversion rate of lead opportunities, and aligns lead scores and strategy with existing sales operations.
Attribution — This type of software syncs lead data within the sales database for consistency and accuracy, and provides analysis on lead scores, funnel insights, and both open and closed opportunities.
Integration — Lead scoring software integrates with lead capture and lead intelligence tools to discover leads, as well as customer relationship management (CRM) or marketing automation tools to contextualize lead data.
Lead scoring software is mostly used by sales and marketing teams. The most important and relevant reasons for these teams using this software are given below:
Sales managers — Lead scoring software allows sales managers and sales teams to measure leads and focus only on the strong or warm leads that produce sales and revenue. This, in turn, helps to maximize conversion rates and shorten sales cycles.
Marketing teams — Marketing teams use lead scoring software to increase marketing qualified leads (MQL) and sales accepted leads (SAL) conversion rates, which could result in more revenue through increased sales. All departments within a company are expected to take on more revenue responsibility and marketing departments get value from this software by chasing only viable leads, which in turn saves time and money.
Finance teams — Finance teams use lead scoring software to track and analyze metrics in regards to sales efficiency, conversion rates, and sales cycles. The more efficient the sales cycle is, the more cost savings a company realizes, and vice versa. Tracking the amount of time and money lost on subpar or premature leads allows an organization to make forecasts and adjustments to minimize these risks in the future.
There are two main types of this software: predictive and rules-based lead scoring software. More information about both types are listed below:
Predictive lead scoring software — Predictive lead scoring software is the most common type of lead scoring software. This type of scoring relies on a predictive model, as well as machine learning and complex algorithms, to identify which leads are best for a company to pursue. These models use external data points, such as demographics, employee count, job openings, web presence, etc., along with historical data and any interactions the lead prospect previously had with the company, to create a more accurate and informed score. The software also creates a predictive model, often using data from a CRM or marketing platform to pinpoint any behaviors and characteristics closed or won accounts share.
Rules-based lead scoring software — Rules-based lead scoring software is a more traditional type of scoring and is usually standard in most marketing automation platforms. It assigns a numeric value to attitudes, characteristics, and behaviors of a prospect, which are defined by a company’s marketing team, although input from sales is common. The intent is that these scores increase the quality of leads that are passed to sales.
There are several features included in lead scoring software that benefits marketing, finance, sales, and the company as a whole. The most important features are further discussed below:
Import and export data — This feature provides options to easily import and export data to and from multiple file types, such as PDFs, spreadsheets, text files, and more.
Integration — Lead scoring software integrates with marketing and sales software, as well as lead intelligence and advanced analytics platforms.
Comparisons — This software feature assists in comparing lead scores to company benchmarks, while providing reporting and analysis that sales teams use to determine which opportunities to follow, and more importantly, which to avoid.
Scoring — Scoring features use criteria such as revenue, budget, and company size to assign score to leads.
Rankings — Lead scoring software contains functionality to create and manage ranking scales for leads based on company objectives and their market position.