Your marketing efforts live or die on the quality of your leads. Automated lead scoring capabilities can help figure out who is a potential purchaser for your products or services, and substantially improve the efficiency of your marketing efforts. But the term sometimes confuses people, because there is more than one kind of lead scoring. Let’s examine some of the differences.
Lead scoring versus lead scoring
If you use a marketing automation platform (MAP), it is likely to have some kind of lead scoring capabilities. Contact data quality providers, such as ourselves, also offer lead scoring – in our case, in the form of our DOTS Lead Validation and DOTS Lead Validation – International products. Similar terms, but each kind of lead scoring has a totally different meaning.
Marketing automation platforms often score leads by examining criteria such as demographics, purchase history, or so-called BANT (budget, authority, need and timeline) data: Marketo, for example, publishes a useful cheat sheet regarding lead scoring strategies. These scores may involve capturing data such as location, visiting your website, downloading a white paper, past purchases, and more.
Our lead scoring is different. We filter out potentially bad leads from your contact data, before you spend time and effort marketing to them. This is because we approach lead scoring from a data quality perspective, as opposed to predicting purchasing behavior. Here are examples of some of the bad actors we can help catch:
- Someone who signed up for your mailing list with a name of “Donald Duck” and a bogus address, so they could get a free marketing goodie
- A contact whose mailing address is in Tennessee, but whose IP address is in Tajikistan
- Leads that came from an automated bot designed to scrape information from your site
- Contact data that has gone out of date or is incomplete
So which kind of lead scoring should you use? The right answer is usually BOTH: make sure you have a database of genuine, accurate and up-to-date contacts first, and then analyze their potential value as prospects. This helps ensure you are working with clean data from people who are most ready to buy.
How we score leads
Both of our lead validation products analyze over 130 data points with your contact data, returning an overall validation score between 0 and 100. The six primary components we analyze include name, address, phone number, email address, IP address, and business data. Our Director of Engineering has written two recent blog articles taking a deeper dive into how we validate and score lead data, including this article on basic capabilities, and this article on advanced features.
A key feature for both products is the ability to set specific test types, which allow you to customize your analysis for specific use cases. This feature lets you customize which criteria are put to use in processing your contact data, such as favoring business or residential criteria, or not penalizing some data for being incomplete. For complex or custom use cases, we also offer the ability to create custom test cases employing your own business logic.
Building an integrated lead scoring strategy
Service Objects’ lead validation capabilities are designed to ensure the quality of your leads at the point of entry, using a simple numerical score that can be customized to suit your specific needs. These capabilities can be integrated directly into popular marketing automation platforms including Salesforce, Marketo, Hubspot and others using real-time API interfaces.
Want to learn more? Download our free white paper Marketing with Bad Contact Data: A Recipe for Disaster, or contact our friendly product experts to discuss your own specific needs. We’re here to help put more power and efficiency into your marketing efforts and create more ROI for your lead data.