Heard rumblings about HubSpot’s brand new Predictive Lead Scoring, but not exactly sure what all it entails—or, more importantly, what sort of impact it might have on your business? Don’t worry, we’re here to help you understand this exciting new feature and what you can make it do for your business. We’ll give you a brief overview of the product, then offer you a simple ways it can be applied to your business to make your lead generation process more profitable for you, your partners, and even your prospects.
So what is Predictive Lead Scoring?
First, let’s talk about the concept of lead scoring itself. If you’re unfamiliar with the idea, it’s quite simple: when you treat every lead the same, you inevitably waste time and resources courting low-value prospects, time and resources you could have invested into more profitably endeavors—more profitable leads. Lead scoring’s a simple system of organizing leads from most to least valuable according to historical data on demographics, site usage behavior, CTAs acted upon, etc.
Predictive Lead Scoring with HubSpot goes a step beyond traditional lead scoring based on existing data by integrating predictive analytics into the lead scoring process. Not only does this help keep your lead scoring accurate and relevant, the automation eliminates much of the room for human error from the process.
How does it help your business?
So now you get the idea—but what can that idea do, specifically, for your business? Even if you’re already comfortable with your existing lead generation process and manually scoring, you might want to give predictive scoring a chance. Consider these benefits:
- Reveal unexpected patterns. Humans are excellent, in our own way, at spotting patterns—it’s how our brains work. But sometimes we get caught up in assumptions and begin to see ‘patterns’ which don’t really exist. And when that happens, the real patterns buried in the data slip right past us. By applying predictive analytics to your lead scoring system, you can reveal unexpected market segmentation and value your leads in a purely data-driven manner.
- Enhance sales and marketing efforts. When Predictive Lead Scoring evaluates your leads, it does more than help you prioritize leads—in revealing unexpected segments and spotting what really matters in determining lead value, it can also inform how you go about marketing and selling to those leads. After all, the best approach is personal; the more accurate your understanding of the reason a person buys or passes on an offer, the better tailored your inbound marketing efforts can become.
- Easier scaling. Past a certain point, manual lead scoring becomes completely untenable. Even with software to help apply manually determined scoring criteria to your leads, you’re missing countless opportunities buried in the mass of prospects. Working with Predictive Lead Scoring will allow your business to grow and broaden its prospect base without losing efficiency.
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