Using Hatchbuck Lead Scoring to Rank a Prospect’s Buyer Readiness
Do you know your prospect’s magic marketing number?
That’s the score that shows when a contact in your database has crossed the threshold of “leave me alone” to “I’m ready to buy now.”
Our number is “50.”
Two years ago, my staff and I entered our contacts and sales notes manually into our CRM. We tracked our email marketing “hotties” by opens and clicks. Then we searched through the CRM to figure out who to call. It went something like this, “Here’s somebody we haven’t talked to in awhile; let’s call him today.”
Today our follow up isn’t dependent solely on personal guessing. That’s because we changed software to Hatchbuck, an all-in-one CRM and marketing automation tool that identifies and schedules follow ups with sales-qualified leads based on the contact’s interest.
Marketing Automation Innovation
Marketing automation software development has exploded with innovation over the past 5 years. This category of business software is proving to be a game changer for sales-driven companies. In fact, more than 25% of B2B Fortune 500 companies already use it to track a buyer’s journey from website visitor to sold contract.
The reason it works so well is this: Nearly 70% of online shoppers self-educate before they buy. And only 3% of them visiting your website are ready to buy today. When the other 97% hit their back button before they identify themselves on your website, you potentially lose thousands of dollars in future revenue.
Marketing automation helps you build a sales system that works 24/7 to capture more visitors, turn them into leads, then nurture them till they trust you and become ready to buy.
Traditional CRM and email can’t do this. They’re solely reliant on what you enter and search for.
With Hatchbuck’s web-integrated online forms acting as “lead magnets,” we set specific follow-up actions for every online lead. Prospects fill out an online form to get the magnet–and then the magic happens. Hatchbuck:
- Sends an auto-responder thank-you email
- Adds the lead to our database
- Adds them on a relevant drip marketing campaign
- Sends our sales rep a lead alert (35-50% of all sales go to the vendor who responds first)
- Assigns a follow up task on the sales rep’s task list in case they miss the email alert
- Tags the contact with interest codes (which can be filtered on later for more list segmentation)
- Starts scoring based on the contact’s online behavior
A new prospect may start out with a score of 0. But if the score goes from 0 to 30, we know we’ve got the prospect’s attention. When his score hits 50, we know we should close him before a competitor does.
I’ve tested this concept on our Google AdWords leads, and this concept has held up consistently. When an Adwords visitor downloads our magnet, I used to follow up with him in minutes. That was too soon. So I tested following up after a day, then 2 days. I typically got voice mail and no call backs.
But by monitoring a prospect’s Hatchbuck score, I found those with a score of 30+ were receptive to having a conversation. When I followed up at 50+, I found myself speaking to highly motivated buyers–who were also better educated on the kind of help they needed because they’d been receiving my drip marketing campaigns. It was time to close them before someone else did!
How Hatchbuck Lead Scoring Works
The Hatchbuck score is derived from a contact’s online behavior, such as email clicks, form submissions and high-value webpage visits (which is customizable). A click, for example, may get a point, but a completed online form may get 5 points. It’s the contact’s actions that determines the score, not me or my sales team’s guessing if he’s hot or not.
Do you know your marketing score? If not, schedule a Hatchbuck demo with me to see how it can work for you.
As a marketer, my #1 job now is to raise scores. That’s way more fun than personally following up with prospects, getting voice mail and saying, in effect, “are you ready yet?”