As marketers there is an ever-increasing amount of technology to help us do our job well. We’re being confronted with new systems that are aimed at making us much more productive, efficient and successful in reaching our customers and in bridging the gap between marketing and sales – specifically filling the pipeline with qualified leads.
But you’re marketers, right? Not tech gurus. So how do you know which technology investments will reap the biggest rewards?
Here at Stein IAS, we think predictive lead scoring technology is some of the most exciting marketing software we’ve seen in a while. It provides the ability to add hundreds of real-time buying signals to your existing customer and prospect data and then apply machine learning to identify which of those prospects are most likely to buy from you next, when they will buy and what they will buy.
We’ve got to be honest, there is some algorithm-jiggery-pokery behind the technology, but what it ultimately provides you with is a way to more easily understand what makes a prospect most likely to buy from you, which means you focus sales effort on those leads – not the ones that will never convert.
The technology takes into account a host of buying signals such as social media profile, financial data, technology stack, job openings in their sales organisation, employee count and many more indicators in order to provide an overall likelihood of buying.
Digital marketing software offered by companies such as Oracle or Salesforce.com are concerned with implicit data; your on and offline behaviour and interactions with a brand, as well as explicit data; your profile fit in terms of your organisation and job title. What predictive lead scoring software does is add an extra layer of data to that. Companies such as Lattice Engines go a step beyond the interaction with a brand and identify prospects’ web behaviour, search history data and purchasing habits via third party intent data to determine how likely they are to buy.
If someone told you that they had a piece of technology that could optimise your revenue funnel, and make your sales team very busy with leads that convert, we’re pretty sure as marketers, we’d start right there.