Online marketers are jack of all trades. They can be market analysts today and social media advisers tomorrow. They often struggle to convert leads to paying customers, especially in startups without proper communication between sales and marketing teams.
Many marketers spend most of their time to get as many leads as possible without a strong lead scoring system.
In this system, a lead acquires points when it meets an explicit or implicit metric related to your brand.
For example, a visitor landing your web page can add two points, while clicking a link on a newsletter can add five points. You choose the number of points to determine if a lead is ready to go to the sales team.
The Fit for Social Media
Social media networks have made explicit and implicit scoring metrics readily available.
Facebook, the world’s largest social network, has free demographics for brands to gain insights on their business pages. Twitter also has its own analytics feature.
Implicit data allows you to monitor, track and analyze interactions. Direct inquiries and positive comments on your product images demands your attention. You have to react to these signals and know where these are as leads.
To reach full potential, here are a few tips on how social media can help in scoring leads.
1. Using social media monitoring/listening tools
You can get implicit data have real-time monitoring that sends alerts whenever your brand name is mentioned online.
Hootsuite and Mention are good examples monitoring tools. These services allow you to reply to mentions, follow conversations and place leads to where they belong.
2. Tracking lead velocity
Lead velocity is the time, in days, needed for leads to go through the sales funnel. The quicker the passage through the funnel, the higher the lead score.
When you track lead velocity, you have to find areas in the funnel that hinder leads from moving forward. These choking points include bad customer experience, garbled lead sources, vague objectives and so on.
You can increase lead velocity by jumping into active conversations. You may start conversations more often and engage in sales calls with potential customers.
For marketers, one sales call does not bring enough data to get a full view of your lead velocity. At least, you are more in touch with your leads and sales team.
3. Tracking conversion rate
Another way that helps scoring leads and overall social media strategy is to track your conversion rate.
Conversion rate is the tendency of leads to move through a sales cycle with every interaction. For example, if a product offer generates two leads per five impressions, it has a conversion rate of 40 percent.
Social media is a treasure trove of prospects. You can tap into its popularity by listening to potential customers and find out which of them need full attention at a given time.
By scoring leads, you have a better way of managing and measuring lead flow, eventually improving your overall results.