Classifying Your Leads: A Step in Lead Scoring and Ranking

Classifying Your Leads: A Step in Lead Scoring and Ranking Why is it very important for you to go through lead ranking or lead prioritization? There are too many reasons. First, not all leads are effective for your business, which means that there are just people who are not really interested in what you’re offering. If you have a mailing list to generate these sales leads, for example, there might be some of them who have accidentally listed their e-mail addresses. Second, even if your sales leads are potential leads, they still need to be classified according to your product segments. If you’re running an electronics website, not all of the leads will be buying cameras or mobile phones. Only a percentage of them will, and lead scoring will help you determine who these people are. Common Classifications of Sales Leads Before you can go on with lead prioritization or lead scoring, though, you have to come up with a set of criteria first. This way, it becomes a lot easier for you and you sales agent to classify every lead. To start with, you can classify your sales leads according to the following: 1. Product Segment. This is ideal for businesses that may be selling different types of products or offering variety of services. As mentioned, your sales leads may be interested in some products but not all. Thus, what you can do is to identify the product lines that you have and then check among the sales leads. You can make it more convenient for you if you can come up with different mailing lists for each product line. 2. Confidence Level. This talks about how easy or hard it will be for you to sell a particular product to your sales lead. The rule is that if the confidence level is high, you can expect easy lead conversion. The opposite will happen if the confidence level falls short. For instance, if you’re selling baby products online, you will have better chances with brand-new mothers than those women who have growing-up kids. When it comes to lead ranking or lead prioritization, those with highest confidence level should be the utmost priority. 3. Lead Value. This is perhaps the most basic classification level of your sales leads. All you need to do is to determine the worth of the lead based on the information that you have. Of course, those that are branded as high value should be the priorities of your sales agents, since it’s a lot easier for them to talk about products and services to high-value sales leads. 4. Existing Relationships. Your sales leads a few months ago can still be used as your sales leads now, especially if you have new products or services coming in. However, if you want to obtain greater success in this classification, you have to establish the relationship between your product now and the product before. For example, your sales leads who have bought or shown interest over coffee



makers of a particular brand may also be worth checking out to once you start selling microwave ovens from the same company. A Lead Prioritization Software Makes Things Easier It may be a little surprising to know but there are still small-time companies that are doing lead scoring through the use of Excel sheets—that’s definitely not an issue, as long as you can manage it well. However, once your business starts to grow or you have too many leads to track, it becomes a problem. A lead prioritization program could be something that you need. You can assign values to your every lead and then sort them out based on their ranks. Content provided by: www.leadscoring-info.com Visit our lead management software sponsor: www.leads360.com