Eloqua Lead Scoring
Harness the power of your marketing, get the right leads at the right
time sent to sales, all the time, every time.
From the moment a contact is uploaded and you begin marketing to them, there will leave a trail of vital information that you can use to determine how ready they are for passing over to sales. This is achieved through lead scoring. Lead scoring is a methodology that is used to prioritize prospects before hand over to sales. A Co-Dynamic lead scoring model takes into account two main factors:
A prospect fit is determined through what is known as explicit variables. These variables are what the prospect has explicitly told you usually through forms. Variables such as company size, job title and industry sector is then used to rank a prospect’s explicit score from A through to D. A being a good fit, D being poor fit.
Prospect engagement is determined through what is known as implicit variables. This information is gathered through monitoring the prospects online behavior. The types of collateral that are tracked are whitepapers, case studies, demo requests and visits to high value webpages such as pricing. This information is then used to rank a prospect’s implicit score from a 1 through to a 4. 1 being very engaged, 4 being not engaged.
Why have a good lead scoring model in place?
80% of top performing companies use lead scoring (Aberdeen Research)
61% of B2B marketers send all leads directly to Sales (MarketingSherpa)
Companies that automate lead management see a 10% increase in revenue (Gartner)
Our client will no doubt wish to be part of the top 80% and increase their marketing generated revenue through harnessing the power of Eloqua. They may choose multiple models for different regions or one model to fit all. We will draw the information required to develop a base lead scoring model the client that we will be able to test. Once the lead scoring model has been agreed on it will be built and handed over. Finally there will be a continual monitoring system to ensure that the lead scoring model is a success.
A lead scoring model in itself is no silver bullet. It takes trial and error, time and of course a feedback mechanism from sales to help the lead scoring model evolve. Again we will build out and hand over the mechanisms so the clients marketing department can do this.
A typical lead scoring engagement will go through the following stages:
A project kick-off meeting will be held with both marketing and sales in the room, the project stages will be described and pre-workshop questionnaires will be provided to both parties.
Implicit Definition of a Lead (Marketing)
In a marketing lead workshop with sales present the implicit criteria for defining stage in the buying process will defined through content mapping.
Explicit Definition of a Lead (Sales)
In a sales lead workshop with marketing present the explicit criteria for lead priority will be established and the lead funnel stages revealed.
Lead Scoring Model Testing
The data gathered from both sessions will lead to the creation of a tangible lead scoring model which will be challenged tested by both marketing and sales, the Marketing Qualified Lead will be defined
Deployment & Continual Improvement
The lead scoring model will be built in Eloqua and the sales feedback mechanism developed, marketing staff will be trained on how to adjust the model.
The sky is the limit, you can move to predictive lead scoring, develop 3D models based on the decision making unit or maintain your existing model and update it.
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Now you know my Eloqua lead scoring approach, let’s talk about what you need me for.