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 demographic 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 classify them into general ones.
- Explicit Demographic information
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.
2. Implicit Demographic Information
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 Cake 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 him.
3. 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.
Here you need to be more dynamic, when it’s come to targeting the right audience based on your niche, so demographic factor plays a Po-vital role have the direct relationship with your Lead Scoring!
If you have segregated the right audience, which are matching with your product/services, there might be high chances of having a good conversion rates.
You are Health care Products Vendor, so you are having an E-commerce website, where you’re displaying Variety of Products like Face Scrub, Face Wash and many more.
And you are creating an ad for Men’s face wash targeting on Bangalore. Say here now demographics play a major part, it can be gender, Interest and their behavior as well.
So when you start ad campaign you consider these demographic factors, which have a direct relation with the Lead Scoring as well. Because your ad will reaching to right audience, and there is high possibility of getting quality leads, which automatically gives high lead scoring.
Hope you got an idea about how you can establish the relationship between lead scoring and demographic. If you any suggestion related to defining the relationship between lead scoring and demographic, Please do let me know in the comment section.
Fehmeez is fueled by his passion, maverick with a mind of his own; he comes up with novel ways to provide the best possible outcome.
An enthusiastic Person, with highly motivated and leadership skills having a Master’s in business administration in Marketing and International Business.
His Hunger, to learn new things and methodologies makes him unique, currently working as Digital Marketing Analyst for KAP Enterprises and does Content writing for Best Database Provider Company Blog.