How to Build Lead Scores: Two Powerful Examples to Drive Better Conversions

December 8, 2024
How to Build Lead Scores: Two Powerful Examples to Drive Better Conversions

In the world of B2B marketing and sales, accurate lead scoring is like having a GPS for your customer journey.

In the world of B2B marketing and sales, accurate lead scoring is like having a GPS for your customer journey. In this post, we’ll dive into two practical examples of how to set up effective lead scores—building on the foundational ingredients we discussed in earlier content. By the end, you'll understand not just why lead scores are crucial but also how to implement them to maximize efficiency and drive revenue.

What Are Lead Scores and Why Do They Matter?

Lead scores are a way to quantify the likelihood of a lead becoming a customer. These scores guide your team in identifying high-priority contacts, optimizing campaigns, and improving close rates. With accurate scores, your team spends less time on low-probability leads and more time converting the ones that matter.

Lead scores are more than numbers—they’re a way to align marketing, sales, and RevOps teams to create an integrated, data-driven strategy.

Some key benefits include:

  1. Improved Close Rates: Your team focuses on high-probability leads, reducing wasted time.
  2. Efficient Retargeting: Marketing can use data to refine campaigns and target the right audience.
  3. Accurate Projections: Better visibility into your funnel improves revenue forecasts and staffing plans.

Let’s dive into two scoring models you can implement today.

Example 1: Weighted Lead Scoring by Category

This method assigns a score to each lead based on four key categories, weighted according to importance:

  1. Conversion Probability (30%)
  2. Pain-Point Fit (30%)
  3. Content Engagement (20%)
  4. Recency of Engagement (20%)

Step 1: Define the Criteria

Each category is scored on a scale of 1-5. Here’s how you might break it down:

  • Conversion Probability: Based on historical data, what’s the likelihood that a lead at this lifecycle stage will convert?
    • Example: If leads at this stage have a 60% historical conversion rate, score them a 4 out of 5.
  • Pain-Point Fit: Does this lead’s identified problem align with your solution?
    • Example: A perfect fit (e.g., they explicitly mentioned needing your exact service) gets a 5.
  • Content Engagement: Measure their interactions with your assets (web pages, emails, downloads).
    • Example: Leads engaging with high-intent assets, like pricing pages or case studies, might score a 4 or 5.
  • Recency of Engagement: The sooner they engaged, the higher the score.
    • Example: Leads who interacted with your brand within the past 24 hours score a 5.

Step 2: Calculate the Weighted Score

Multiply each category score by its weight, then sum the results.

For example:

  • Conversion Probability = 4 x 0.3 = 1.2
  • Pain-Point Fit = 3 x 0.3 = 0.9
  • Content Engagement = 4 x 0.2 = 0.8
  • Recency of Engagement = 5 x 0.2 = 1.0

Total Score: 1.2 + 0.9 + 0.8 + 1.0 = 3.9

A lead with a score of 3.9 is strong but not a guaranteed close. Use this score to prioritize follow-up.

Example 2: Simple Unweighted Scoring Across Categories

This simpler method assigns equal weight to categories, making it easier to implement. While less precise than weighted scoring, it’s faster to set up and easier to interpret.

Step 1: Define the Categories

Here’s an example breakdown:

  1. Behavior Score: Based on actions like visiting key web pages or submitting forms.
    • Example: A lead who visited your pricing page and submitted a form within seven days scores a 5.
  2. Insight Score: Based on firmographics and demographics (e.g., job title, company size, industry fit).
    • Example: A lead who matches your ideal customer profile (ICP) perfectly scores a 5.
  3. Time Score: Includes factors like time spent in the current stage and overall momentum.
    • Example: Leads who’ve been active in your funnel for less than seven days score a 5.
  4. Position Score: Based on lifecycle and deal stages (e.g., new lead vs. negotiation stage).
    • Example: Existing customers negotiating upsell contracts score a 5.

Step 2: Add the Scores

Each category is scored from 1-5, then summed.

For instance:

  • Behavior Score: 5
  • Insight Score: 4
  • Time Score: 3
  • Position Score: 5

Total Score: 5 + 4 + 3 + 5 = 17 (out of a possible 20).

Use these scores to categorize leads (e.g., 15+ = high priority, 10-14 = medium priority).

Key Takeaways

Both examples emphasize the need for data-driven scoring to ensure accuracy. Guesswork can lead to wasted time, misaligned efforts, and missed opportunities. Always base scores on historical data and continuously refine as you gather more insights.

What’s Next?

In the next post, we’ll explore two more advanced lead scoring models, including one that has consistently doubled conversion rates for our clients. Stay tuned!

In the meantime, take one action: Share this post in your team’s Slack or company chat. If you want to go deeper, book a call with our team. We specialize in building B2B lead scoring systems that drive results.

Don’t forget to check out our free Signal Constructor Tool (link in the bio) to get started on creating your own lead scores today!

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