The study, entitled Lead Scoring 101: Leveraging Lead Quality Attributes to Improve Conversion, focuses on key findings across thousands of customers and millions of leads, specifically in the education, mortgage and insurance industries.
The study found that leads with some identified characteristics enjoy conversion and enrollment rates that are as much as three times higher than the average. For example:
- Higher education marketers would be interested to know such surprising facts as:
- Married people are two times more likely to enroll in a higher education program than divorcees.
- Apple Mac users are 45 percent more likely to enter further education than PC-users.
- Insurance agents, on the other hand, would be wise to target their efforts towards:
- Individuals with “very poor” credit, who were almost three times more likely to sign up for an insurance policy than those with “excellent” credit.
- Individuals with less education, given people with professional degrees converted into customers 58 percent less often than individuals who only had a high school diploma.
- Mortgage brokers, should be looking for the most financially stable consumers:
- Individuals with “excellent” or “very good” credit ratings converted almost 28 times more often than those with “poor” ratings.
- Workers with more than 10 years of employment, who converted more than two times better than those who joined the workforce more recently.
“Savvy sales and marketing professionals know that all leads are not created equal,” said Nick Hedges, CEO and president of Leads360. “Understanding what factors make a lead more likely to convert can give organizations a significant advantage over competitors.”
The Lead Scoring 101 report gives sales and marketing professionals a head start on their lead scoring efforts, a process of assigning scores to leads according to perceived and previously observed probability of them becoming customers. Additionally, Leads360 customers can couple this new research with Leads360’s Lead Management solution, to discover quality attributes within their own lead data, and leverage a robust distribution and prioritization engine to route high-priority leads for immediate follow-up and conversion.
Organizations can put this research to work immediately in the following ways:
- Lead acquisition: Look to acquire leads that include these higher converting attributes.
- Lead scoring: Apply insights to lead scoring methodologies to help improve the quality of leads distributed to sales reps.
- Prioritize lead follow-up: Set up distribution and prioritization rules based on attributes that have a higher probability of converting.
- Capture key data: Update lead forms to gather key data earlier in the sales cycle.
Leads360 is a market leading provider of cloud-based lead management and sales automation solutions proven to deliver smarter, more efficient lead distribution and sales processes for improved conversion rates. With unmatched expertise, drawn from a dedication to helping more than 10,000 clients automate and improve their lead distribution, response and conversion processes, Leads360 has become the platform of choice for organizations focused on improving customer acquisition practices and business performance. Leads360 is a privately held company, recently recognized as one of the fastest growing companies in North America by Deloitte. Please visit www.Leads360.com for more information.
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PR Manager, Leads360