Why is lead scoring critical to universities, who are your most engaged prospects, and why does it matter? It matters because universities are spending marketing dollars on lead generation, so let’s make sure they are being spent wisely. Despite continuing challenges to the overall economic environment, marketing budgets in the education sector – specifically for lead generation – are on the rise, according to results from the 2010 Lead Generation Benchmarking survey by ForProfitEDU.com and sponsored by Sparkroom. According to the survey, schools are overwhelmingly keeping their resources focused on lead generation activities for 2010. Virtually all respondents indicated that they are planning to increase or maintain their spending on lead generation next year (69% and 17% respectively). Just 7% plan to decrease spending. How do you define a hot lead? Nearly half of all B2B marketers (48%) tell Forrester Research that lead quality is a top concern. (Note 1)
Lead scoring gives your university the ability to know where each and every lead is in your enrollment funnel. Lead scoring is a method of assigning points to different criteria for each lead that flowing into your university. Criteria include behavior triggers and profile data.
- Recency and Frequency: how recently and often a prospect took action.
- Actions: where they navigate and what specific pages they land on; download white papers; engage in social media; submit a form; update personal information; request information.
- Educational level, age, income, job title
- Plan to enroll; area of interest
3 Lead Scoring Benefits:
- Align Sales and Admissions: Alignment is critical to your universities growth. Marketers look at brand awareness and long-term goals. Salespeople are driven by numbers –number of leads and opportunities. Bridge the gaps between Sales and Admissions by jointly establishing criteria, measure ROI on lead-generation marketing and routing hot leads directly to admissions in a timely manner.
- Lead scoring=smooth lead flow: Ranking your leads will help to make sure they don’t get stuck in your sales pipeline while making both your Marketing and Admissions departments more accountable.
- Admissions will have more meaningful conversations with prospects based on the their actions, frequency, and recency. What are their hot buttons, what are they interested in, and what are their preferences?
Streamline and automate your lead-scoring process. Automation will lower your cost per acquisition by sending your hot leads directly to Admissions/Recruitment, put your warm leads through a nurture campaign, and ditch your cold leads. Do you want to waste time and money sending color brochures in the mail and having your Admissions/Recruitment department calling on cold leads that will not develop into conversions?
Note 1: "B2B Marketing Needs a Makeover- Now" Forrester Research, Aug. 2006