Are you fed up with manually scoring your leads or finding out the qualified leads is a complex and time-consuming process for you? If yes, we have got you covered. Since no one would like to drain their time on unqualified leads, evaluating qualified leads becomes crucial for businesses these days. Here AI-based automated lead scoring comes into the picture.
In the era of automation across business processes, especially in sales and marketing practices, automating your lead scoring practices can help you acquire accuracy, increase efficiency, and drive customer acquisition.
In our recent blogs, we have already unfolded – “The Impact of Lead Management on Your Business” and “How Using Lead reports can help you evaluate your business performance”. Now, moving ahead with “How AI-based automated lead scoring can help you close more deals”
As per Gartner, B2B automation platforms help and support the practice of demand generation. Such software tools can be leveraged for building awareness, generating as well as nurturing high-quality leads, and analytics to measure and optimize performance, etc.
In the words of one of the market players- ‘you can automate half of your work by adapting automation in your system’. And the same applies to lead scoring. So, let’s understand the need for automated lead scoring with some use cases.
Lead Scoring Use Cases
Generating leads is the initial yet crucial requirement to sustain the business. However, the more you generate leads, the more you create opportunities for revenue generation. Usually, leads are generated by your marketing team and are converted or closed by the sales team.
Use Case 1
Your sales team works on leads they provided whether relevant or irrelevant. Now, what happens when you send unqualified leads to your sales department? Obviously, your sales team won’t be able to bring off success while dealing with irrelevant leads. Thus, it’s all about a collaborative effort of both sales and marketing teams.
Use Case 2
In case, if your marketing team provides leads in bulk comprising both qualified and unqualified leads, your sales team needs to put in additional effort while identifying the qualified leads, and they are to waste their time while dealing with unqualified leads. Eventually, this will encourage inefficiency and impact the productivity of your marketing workforce.
Use Case 3
Let’s assume your marketing team is able to send only qualified leads to your sales team. In this case, your sales team is focusing merely on relevant leads. As a result, it will increase their productivity, improve overall efficiency, and eventually it can impact your revenue generation.
And to bring off this into reality, you need to provide sufficient tools to your marketing team or upgrade their system capabilities with automated lead management software.
Now, let’s come up with AI-configured automated lead scoring. To implement Use Case 3 in your business, applying a manual way won’t work out. However, upgrading your system with well-designed automated lead management software can help you out indeed.
So, let’s get an in-depth overview of automated lead management first followed by how it can help you close more sales deals.
What is automated Lead Scoring?
Automated lead scoring is the process to assign a score to each lead which helps determine the lead eligibility. It uses predefined rules and criteria such as customer revenue, number of employees in their organization, lead status, region, number of activities or communication level, etc.
Eliminating the need to manually calculate the leads score, you can automate lead scoring with the help of Lead Management CRM with built-in Artificial Intelligence and Machine Learning capabilities. Each lead can be given a score of up to 100.
Now, leveraging each lead’s score, you can determine which lead is qualified and which is not. With automated lead scoring, you can directly focus on converting the qualified leads rather than wasting time in manually calculating the lead score as well as considering working on both the qualified and unqualified leads.
How Automated Lead Scoring Helps Businesses Close More Deals
Improved Lead Segmentation
With the help of automated lead scoring, you can better segment your leads in terms of qualified leads and unqualified leads. You can even get each lead’s evaluation through automation and predictive analysis in your sales and marketing practices which can be achieved through automated lead management software.
With automated lead scoring capability, you can acquire scores for each of the leads distinctively helping you to determine whether to continue with the specific lead or not. The scoring can be defined by the system out of the 100 based on predefined facts and predictive analysis, for instance, lead status, range of employees in their company, their annual revenue, level of communication between your salespeople and customers, etc.
So, it’s simple - automation and predictive analysis in your lead scoring process can minimize your time spent in qualifying leads and shorten your sales cycle while reducing customer acquisition costs.
Maximize Sales Productivity
With the help of lead management CRM equipped with AI-configured automated lead management capability, you can enhance your sales productivity. It helps accelerate your lead qualification process as well as free up your resources to focus more on conversions.
Through AI-based automated lead scoring, you can automate your lead prioritization and speed up the lead conversion process as your sales team gets the ability to focus on the most promising leads merely.
Better Lead Nurturing
AI-based automation and predictive analysis in your lead scoring also help to improve lead nurturing. Depending on the lead score, you can do more personalized communication with your customer which in turn helps improve your lead nurturing practices and probability of converting leads into buying customers.
When your CRM is facilitated with predictive lead scoring capabilities, you can better analyze your leads. Apart from this, if your CRM is capable enough with sentiment analysis like LionO360 Lead Management CRM, you can get grades for each of your customers enabling you to diagnose whether the customer is eligible or not to be focused further. Here sentiment analysis works based on your email communication with your customers.
Improved Data Insight
With automation in your lead scoring process, you can gain access to valuable insights into your customers to make timely yet informed decisions impacting your overall sales and marketing strategies. It also allows you to track your lead engagement level and behavior, helping you to better know your leads. You can also leverage these insights for the continuous betterment of your marketing efforts.
Better Sales & Marketing Alignment
Implementing automation practices in your marketing and sales efforts helps to bring better alignment between these two departments. You can empower your marketing team to quickly identify qualified leads, optimize resource allocation, and accelerate the process. Further, sending quality leads to the sales team can help them shorten the sales funnel and close sales faster.
Thus, with AI-equipped automated lead scoring capabilities, you can enable better sales and marketing alignment and bring collaboration between both teams to meet sales & marketing goals together.
How can LionO360 Automated Lead Management CRM help you?
Here at LionOBytes, we provide an optimal lead management solution configured with Artificial Intelligence and Machine Learning capabilities. Our solution is designed for startups to small-scale businesses helping them to monitor and manage their leads, effectively drive sales funnels, optimize resources, and close more deals while shortening the sales cycle and reducing operational costs.
Considering the lead scoring essentialness for your business to identify quality leads and better know your customer eligibility with a grading system, our LionO360 automated lead management CRM is designed with sentiment analysis. Sentiment Analysis can be leveraged to reinforce your lead generation, opportunity management, and sales practices effectively helping you close more deals successfully.
Yes, our system is also facilitated with sentiment analysis that helps to mark grades for each of your leads. Based on the lead’s interaction level, our system can automatically generate grades from A to F wherein ‘A’ denotes the higher probability of being converted whereas ‘F’ demonstrates the least probability of conversion. In simple terms, our AI-based automated grading system can help your sales team to understand whether to consider the lead as eligible or not.
To know how your system can be improved or upgraded with our automated and predictive lead scoring capabilities, ensure your sound connectivity with us. We can reveal the best solution for your business.