Establishing the Relationship between Your Demographics and Lead Scoring What is lead scoring? This is one of the most important processes in lead management. The goal of this is to ensure that you can narrow down your hundreds or even thousands of leads to a select few. You want to make sure that you only get to deal with those who have higher chances of buying your products or availing of services. With that, you need to come up with a set of criteria that can help define your sales-ready leads. For example, if you’re selling children’s clothes, you may give more importance to women than men, since the former are fervent shoppers. But you will definitely provide more points for pregnant women. They are most likely to purchase clothes immediately for their upcoming child. It doesn’t matter how many points you associate for every factor. The most important thing is that it becomes a lot easier for you to determine if a lead is ready to make a purchasing decision. The Use of Demographics Usually, when you’re assessing your leads for the purpose of scoring, you make use of its demographics. The data will pertain to the characteristics of a certain population. We are talking about their age, income, race, educational background, employment status, and geographical location. We are also referring to the current interests or preferences of individuals. Businesses make use of demographics to create a demographics profile. A profile is a combination of different characteristics. Using the example we have above, a demographic profile of your lead could be a woman in her 20s and 30s, working class, and pregnant. You can then use your demographic profile to identify the leads that you are going to work on. Of course, those who fit these criteria become your pre-qualified leads. Types of Demographic Data There are countless categories of demographic data, and some of them have already been mentioned in this article. Nevertheless, there are more. Because we really can’t discuss everything here, we can just classif y them into general ones. First, we have explicit demographic information. As its name implies, these are the ones that are being provided by the lead. These include their name, age, address, telephone number, e-mail address, and race. Depending on what other information that you need, you may also include salary range, educational background, and geographical location here. Then we have implicit demographic data. These are the information that you can get when you are going to monitor the interest and movements of your leads.
Usually, to obtain these data, you have to make use of some tools, such as analytics software. You need to assess how many times a lead visited your website, checked your e-mails, or stayed in your web page. You may also include the number of times he placed a call to your customer service department. If you are in a brick-and-mortar business, implicit data may include the number of visits a potential customer makes in your shop or the inquiries he placed over certain items. One of the clearest indications of his interest to buy would include testing the item on himself. You Need to Use Both There are some companies that would settle for explicit data, simply because the information is already there. Gathering and interpreting your implicit information definitely take a lot of time. However, if you want to make sure that your lead scoring model is comprehensive, you may want to use both. In case you don’t know, there are a number of leads who will not be perfectly honest with their own information. The reason can be deliberate or not. With the use of your implicit data, you can have a clearer picture of their capacity of being a customer to your business.
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