Take a moment to imagine a scene. You are consistently getting leads into your database with your lead nurturing workflow. Prospects are completing forms, downloading brochures, and you are trying to determine which leads are “significant” and which ones are “insignificant.”
Traditional lead scoring and predictive lead scoring are two ways to go about it.
Difference Between Traditional Lead Scoring and Predictive Lead Scoring
In traditional lead scoring, digital marketers identify the quality of leads using implicit and explicit data, then score them accordingly. Lead scoring is a way of identifying what lead has the potential to convert and make a purchase. The weight for those leads change continuously based on the website content and how one perceives the qualifying data.
Predictive lead scoring differs from traditional lead scoring primarily because of humans. Constructing concise and consistent data for leads is challenging for marketers. Market variations are often overlooked. It will be necessary to maintain a constant weighting for lead scoring metrics over time. Additionally, using predictive lead scoring eliminates the human error factor and analyses your lead database over time for retrospective and predictive insight.
Lead Scoring Differs From Traditional Lead Scoring in Several Ways
In order to predict the quality of leads, experts use a scientific approach based on three principles:
- A predictive lead scoring system uses a wide range of information, such as the data currently being collected, trends from the past, as well as data from multiple “big data sources” to help predict lead quality based on the performance of your competitors.
- The predictive lead scoring tool uses your current and previous customers’ information to create a profile that automatically adjusts as information changes.
- Afterward, you will receive an automated score calculated according to the qualified leads that will allow you to identify which leads are more likely to convert into customers.
Traditionally, lead scoring involves gathering data, reviewing your scoring system, running tests, waiting a time period, and analyzing the results. However, all of that can be done for you by much easier predictive lead scoring, which allows your sales process to adapt to market changes faster.
How Does Predictive Lead Scoring Benefit Businesses?
Through predictive lead scoring, the weights of your leads are continually analyzed and adjusted, removing human error. So, by eliminating human error, your sales team will not waste any time on unqualified leads, and they will be able to attribute quality leads correctly.
You must manually update your lead scoring system in traditional lead scoring to weight user interactions properly. However, you do not have to update your lead scoring system manually in predictive lead scoring. Your lead scoring model will be quickly adjusted by the algorithm, eliminating the need for constant maintenance.
An ideal customer can be developed with the use of predictive lead scoring using a more significant dataset. Having a better understanding of your audience helps create content that will generate more conversions.
Which One is Right For You?
It’s both, to be honest. One advantage of predictive lead scoring is that it is easy to use, leads qualify properly, and it is automated. Lead scoring using traditional methods allows you to collect data on new forms and offers when no historical data has been collected. As a short-term solution, traditional lead scoring can be very effective until predictive lead scoring becomes more efficient. Using both of these models, monitoring both, and finding what blend is best for your situation is a wise move.
What does Tash’heer Suggest?
No matter what kind of lead scoring method you use, one of the most important things is to ensure that your time and resources are being invested in the right prospect rather than wasting time and resources on prospects who will not do business with you. Would you like to know how we score our own leads? Then, reach out to Tash’heer and get the best lead generation service in the business.
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