It sounds good that you are capable enough of acquiring the bulk of leads and probably generating revenue as well. At the same time, there could be chances of losing quality leads due to lacking AI based lead scoring capability in your CRM.
So, this is the reason why businesses these days are investing in AI Analytics tools and technologies wherein AI based lead scoring is one of the greatest functionalities to predict quality leads and enables the sales team to prioritize the same.
As per Gartner inclusion, 88% of Chief Sales Officers have already invested or are considering investing in AI Analytics tools and technologies, so far.
Further, the reference image exhibited below from Gartner reveals the rest of the story.
Data Source: Gartner Website
However, out of the strategic list of emerging technology investments, it can be seen clearly that AI/Machine Learning investment is still lying at the top.
Thus, modern sellers are relying on algorithmic guided selling instead of staying dependent on judgment based on individual or manual decisions. With the help of algorithmic guided selling, businesses are achieving success in automating their sales practices and enabling their sales team to better understand their customer behavior, optimize sales processes, and close more sales deals.
Here Gartner includes that 14.5% of sellers have no plan yet to implement. However, 34% are expecting algorithmic-guided selling as an essential solution to their organization in the next two years.
Thus, you can see how organizations are seeking to innovate with emerging tools and technologies to automate, streamline, and ensure team collaboration in real-time. Such emerging technologies include AI (Artificial Intelligence), ML (Machine Learning), Generative AI, and so on.
Initially, you may have started in a different way or in your flexible terms, but the eventual goal is to drive improved sales which usually depends on the tools or processes you adopt to identify and nurture your leads. Here, AI lead scoring comes into the picture.
So, let’s perceive an in-depth overview of AI based lead scoring from an initial concept of how it works to how it can help growing businesses improve their sales capabilities.
What is AI Based Lead Scoring and How Does it Work?
AI based lead scoring is defined as Machine Learning algorithms that automatically generate a score for each lead between 1 to 100. These algorithms leverage the stored customer data and track information each time whenever they interact along with how they respond and sound.
Now, based on these AI based lead scores, you can prioritize quality leads. It can also help you whether to even consider the lead or not, to be followed up. However, based on the amount of leads you receive, you can decide to which score extent you want to prioritize the lead.
Moreover, prioritizing the leads can prevent you from losing the quality leads. Since today’s customers anticipate early response and when you fail to ensure fast customer response times, you may face potential customer diversion toward your competitors.
So, you can see how prioritizing leads matters to your business especially when your business is continuously growing and increasingly receiving bulk leads of data. Here, your sales team needs to struggle while prioritizing which leads should be prioritized and which shouldn’t in the lack of AI lead scoring capability which is directly related to your sales capabilities.
Now, after getting an initial overview of AI lead scoring and its core processing, let’s understand how these AI-generated lead scores can help growing businesses level up their sales capabilities.
How Can AI Lead Scoring Help Growing Businesses to Improve Their Sales Capabilities?
Identify and Prioritize Sales Ready Leads
For growing businesses, it is essential to closely work on quality leads to ensure better sales conversions. Now, the question is how to diagnose the quality leads. Here, AI based lead scoring can help you identify the quality leads that are more likely to be converted.
When it’s about LionO360’s AI Lead Scoring functionality, it can help you filter quality leads out of the bulk leads data comprising both worthy and non-worthy deals. Leveraging the AI lead scores generated between 1 to 100, you can better understand your leads and make instant decisions whether the lead is considerable or not.
Furthermore, with the help of lead scores, you can determine which leads need to be prioritized. Or even you can make a strategy for each lead to impact your sales cycle. For instance, if a lead score goes between 70 to 100, you can instantly start following up.
In case the AI lead score lies between 40-70 out of 100, you can plan their follow-up after a few days or a month. For the rest, having lead scores between 1 to 40, you can keep them on your due list and plan their follow-up as per your resource and time availability.
So, the above example demonstrates how you can make effective use of AI-based lead scores as well as plan and drive your strategy impacting your conversion rates. However, every business may require different lead prioritizing and follow-up strategies depending on your specific sales needs, resource availability, and volume of leads.
Again, the above demonstration is just for your reference. Depending on your unique sales needs, resource availability, and sales goals, you will require a different sales strategy.
Identify Upselling and Cross-selling Opportunities
AI-generated lead scoring functionality doesn’t merely help you in acquiring a new customer base even it enhances your sales capabilities through upselling and cross-selling opportunities.
Now, you might be thinking about how AI lead scores can help in cross-selling and upselling. So, let us reveal how LionO360 CRM with AI based lead scoring capability can enable you to ensure so. Let’s understand this through practical consideration:
Being a growing organization, you already have a loyal customer base. Now, once your existing customers start engaging again after a few months or a year(s), you will see your customers' AI scores start changing accordingly. Certainly, there is a probability that they are willing to upgrade their current system to reinforce their growing business needs.
So, this is the time when you can seek cross-selling and upselling opportunities with your existing customer base. Thus, it exhibits how AI-generated scores can help you improve your sales capabilities for now and even in the long run.
Better Segment and Target Your Leads
Based on AI lead scores, you can also segment your leads into different engagement brackets to ensure efficient targeting and seamless follow-up. Leveraging this way, your sales team will have proactive awareness about the status of leads in particular engagement brackets. They can plan and implement effective yet customized strategies to ensure faster and improved conversions.
Thus, our LionO360 CRM platform is highly equipped with AI based lead-scoring capability that automatically generates a score for each lead. Now, it’s up to you or your different sales strategies how you better leverage lead segmentation using our AI lead scoring functionality.
Efficient Alignment of Marketing and Sales Team
An efficient alignment of your sales and marketing team can ensure that the right leads are being considered in the sales pipeline. And your sales team is merely focusing on the right leads instead of draining time on leads that are less likely to be converted. Eventually, it demonstrates how AI based lead scoring helps improve your sales capabilities.
So, when it comes to LionO360 AI Lead Scoring, our software enables your sales and marketing team to ensure better alignment. By analyzing the lead data and collaborating with the sales team, the marketing team can understand whether they are attracting the right deals or not.
How Does LionO360’s AI Based Lead Scoring Work?
So, if you are struggling to improve your sales capabilities, LionO360’s AI Lead Scoring can certainly help. Our solution leverages AI & ML (Machine Learning) algorithms that determine the score for each lead you deal with. These AI-generated lead scores are automatically determined by our CRM system based on the engagement level with your leads and the information provided by them.
These lead scores are automatically generated by our LionO360 system ranging from 1 to 100 wherein 100 is considered as the highest score and 1 is considered the lowest score. So, depending on your specific considerations and unique business needs, you can segment and prioritize them accordingly. Now, let’s understand how these lead scores are generated using our LionO360 CRM.
As we already stated, our system leverages AI and ML algorithms that track and analyze your lead data as well as the engagement level between your sales team and your lead.
Such lead data includes the business type and industry they belong to, the number of employees in their company, their annual revenue, ownership type, founder year, etc.
And yes, the engagement level depends on how sound communication is going on between your sales individuals and lead.
Here we also have an amazing deal that you can enjoy i.e., customer grading wherein our CRM system automatically generates grading for your prospective customers ranging from A to C that determines whether the lead is eligible or not, to be considered and followed up. Here A denotes higher grading whereas C denotes lower grading. So, this way helps you consider working on eligible leads only.
Now, let’s enlighten how this customer grading system works. So, based on your prospective customers' currency, time zone, geo-location, number of resources at their company, etc., our system automatically determines the grading for each of your leads.
For instance, if you do not deal in the geo-location where your lead belongs, our CRM software will generate a lower grade for that lead so that your sales team will not consider wasting time on that lead.
Thus, you can see how AI based lead scoring and customer grading can save time and resources while increasing overall efficiency and productivity. To gather more information and how our LionO360 CRM with AI based Lead Scoring capability can improve your sales capabilities, contact our experts.