Improve Your Team’s Closing Rate by Combining Lead Scoring and Segmentation
Which is worse: wasting a reps time on a useless call with a poorly qualified lead or giving a potential user the impression that their business isn’t important to you? When your sales process implies calling every lead, you lose on both. Some sales managers and CEOs still view the “call everyone” tactic as being gold standard, but the numbers tell a different story.
Why your indiscriminate sales process is killing your numbers and your team’s morale
A typical sales organization’s ratio of time spent to deal value is of roughly 2 to 1. That means that 80% of your reps time will be dedicated to closing deals that amount to 40% of your bottom line. It’s a waste of time as well as a morale-killer for your team.
More often than not, the “call everyone” tactic rests on little more than FOMO. Knowing ahead of time which leads to focus on, and how to service them, should allow you to let the smaller ones go by. Our tried and tested tips will help you implement lead scoring and segmentation, boost your closing rate, as well as put a smile on your team’s face:
#1 Define a lead scoring MVP
It doesn’t need to be perfect to work. Here’s how you can get started with simple lead scoring that brings results:
- Step 1: define your ICP. Your Ideal Customer Profile is the people you want to get on the end of the line and sell to. You’ll probably want to get marketing and product in the room to make sure everyone is aligned on this.
- Step 2: identify your UCP. Your Useless Call Profile are the leads your team want to hang up on 5 minutes into the call. Recognizing your UCP is a first step towards clearing them from your sales funnel.
- Step 3: map out a list of 3 questions that can successfully discriminate UCPs from ICPs. Also provide answers for each that will allow you to dispatch leads into different buckets.
That’s it, you’re now able to attribute a rough score for each lead making an inquiry into your services on your website. Now you’ll need to obtain reliable answers for every lead.
#2 Collect relevant information before the call
It’s critical that you get this information as early as possible to prevent your team from having to spend time on accounts that aren’t going to close. If answers from your website’s lead gen form don’t allow you to attribute a reliable score and sniff out your UCPs, then you’re going to have to modify it.
You can do so with Bonjour: our website widget lets you to modify the form you require inbound leads to fill in when they sign up. That means you no longer have to go digging for gold in your list of leads.
If the information you require is publicly available, you can also use Clearbit to qualify your leads. Clearbit is an API that returns over 120 data points for every contact, allowing you to qualify – and disqualify – inbound leads generated by your website leveraging of criteria that matter most to your business.
#3 Tailor the experience for each segment
Now that you’ve scored your leads and split them into buckets, the final piece of the puzzle is running your leads through dedicated funnels. For Intercom’s Stan Massueras, splitting their sales process into several funnels ranging from fast-paced sales for small accounts and enterprise-level consultation to larger prospects was key to scaling the team. Thanks to this process, Intercom were able to close more deals while maintaining an equal sales headcount.
If you’re using Bonjour to collect leads on your website, you can automatically route leads towards different reps or even different actions based on how they score. For instance: a larger account can be offered a call with a rep on your enterprise sales team, a startup can be offered a free trial, and a mid-market company can be channeled towards a group demo.
By focusing on highly qualified leads, your sales team can improve their closing rate and increase average deal value, as well as drastically enhance your customer’s experience. Not to mention the added benefit of delivering a well-earned morale boost for your team.