Lead Scoring for Account Based Marketing (ABM)
The integration of sales and marketing teams has long been a challenge, but the rise of Account-Based Marketing (ABM) has brought them closer together. Both teams now share a common goal of generating better sales results from a defined set of accounts, allowing them to prioritize potential customers based on their likelihood of making a purchase. ABM has become more affordable and accessible due to technological advancements, such as lead scoring.
Lead scoring is an automated scoring method that scores leads in a database based on factors like their proximity to the ideal customer, interest in the company’s offerings, and stage in the buying process. It is crucial in the implementation of ABM, as lead scoring is based on a combination of implicit and explicit information like revenue, industry, location, and technology suitability.
However, lead scoring is not universal and should be tailored to fit a business’s unique interests. To help marketing and sales teams understand the value of leads, leads should be scored on a standardized scale that focuses on companies that align with the lead scoring criteria.
To implement lead scoring in an ABM strategy, the following steps should be taken:
1. Define the ideal customer profile (ICP):
Define the ideal customer profile (ICP) by analyzing common characteristics and activities of prospects and customers, and paying attention to lead generation strategies.
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2. Scoring Scheme:
Create a scoring scheme based on the ICP by assigning scores to various actions, such as opening an email or clicking on links.
3. Account prioritization:
After assigning scores, you should assess the highest-scoring accounts and assess their perceived value. Prioritization is crucial in determining what to focus on within your framework.
Next, you should consider your implementation plan and identify the role each stakeholder plays in the purchasing decision. It is important to understand the level and type of involvement each stakeholder has, as this information forms the basis of your scoring strategy.
Whether you are using lead scoring for demand generation or ABM, the ultimate goal is to improve your business results. Lead scoring is not a one-time setup and must be regularly reviewed and validated as conditions and learning evolves.
