Omnichannel solution – which is the accumulation of client activity data in real time – also allows to create so-called the scoring system. It is a series of algorithms that allow to give points (or subtract) to clients who excel at different activity determined by us on certain fields. The scoring system may include for example, webpage frequency visits or activity in social media profiles and takes into account the total amount of transactions made online and offline for a certain period of time, etc.
The scoring system allows to determine the client’s willingness to buy at any given time. We implement it in order to be able to predict which of the clients are currently the most motivated to make purchases. We may focus on the special attention so that it will quickly lead to sales. Scoring is a marketing activity, the implementation of which brings visible sales effects, that is why while its implementation cooperation between the marketing department and sales department play an important role. According to recent research 69% the best performing companies in global markets consider cooperation marketing and sales department the most critical factor to increase ROI.
Meanwhile, only 23% of heads of sales departments agree that marketers in their businesses are able to identify their clients are willing to immediate purchase (ie. hot lead). According to the RainToday.com report, less than 25% of newly acquired clients/leads are ready to make quick purchase decisions.
First, you need to know is when is the best time to present them to the best deals, and secondly consider how to take care of the remaining 75%. So if the position of the company has been already reached on the market and we have a sufficiently large client base, it’s time to improve sales system. It is the time when you should think about the implementation of the scoring system.
What is the most important in the correct operating scoring system?
The fact is that we do not only consider activity in the online world, but also offline. Besides client behavior in the Internet, on our website, we can also take into account how the client behaves in our stores stationary – how often there come, how much time do they spend there, what kind of products they are interested in, how often they buy things and on what amounts. This is possible due to technology based on beacons which we presented earlier.
Before the implementation of the scoring system you should look at all the data that you have collected about clients so far. Thoroughly analyze client behavior before purchasing. How certain behaviors look like, that affect the decisions of clients. Perhaps the most common purchasing decisions are taken by people that are always opening our emails and spend a lot of time on pages of specific products in our online shop? Or maybe more people are likely to buy that product in stores rather than online, and on the website they spend minimum time required just to make payments when buying online? You should also watch on whether and at what point, the clients behavior is changing. Pay attention to these behaviors which are similar to all shoppers. It’s the behavior you must then enter to a list of criteria and score points.
The data (criteria) to be taken into account, they may vary depending on the type of product or service they offer, but they always can be divided into two groups:
- Formal data (explicit) – mainly demographic data, present who is our client. These include eg. age, location, marital status, work, earnings. Remember, however, that due to the omnichannel solution, we can also obtain some data from social media and thus have quite a rich profile of our client.
- The implied data (implicit) – mainly behavioral data, clients behavior on the website, the activity associated with the mobile application, product categories purchased online and offline, etc. These criteria presents what preferences and shopping experience our clients have.
- In addition to the above mentioned criteria can also become negative (can be either formal data, or implied) or information that may affect the lowering of scoring. This could be for example unsubscribing from the newsletter, the activity only on noncommercial subpages (for example career), abandoning the shopping cart or student status – while our product is a service for corporations.
How to score client’s behavior?
- All criteria (formal or implicit) should be divided into categories according to their relevance and for each of them given certain number of points. For example, our division and valuation of criteria might look like this:
- the most important criteria (10 – 15 points),
- very important criteria ( 5 – 9 points),
- valid criteria (1 – 4 points ),
- negative criteria (negative).
The biggest impact on purchase has certain criterion, the more points we should give for it. Moreover, the purchase of different products may be followed by another type of behavior. Therefore, you should think about different scores depending on the product category, even for the same client, and gather as much information about him – the more you know about the client, the better you can prepare its scoring.
A profile of each of our clients will be defined in real time according to two coordinates (formal and implied). It should also establish the number thresholds points divided into two categories, so that we can assign each client to a group called hot, warm and cold leads (or respectively, ready for immediate sale, requiring support of the decision and which are still at the beginning of the purchasing path). To illustrate the method how assign leads to each other of the three areas outlined above, one and the other data can be presented on one chart. Customer involvement on the horizontal axis, and its fit to our product on vertical. Thus, most priority for us would be to support this contact, which is in the upper right corner of the chart.
In preparing the scoring system clients should be thoroughly assessed, not favor. For example, one who is very active on the website, social media, but had never bought anything, because he views a page just out of curiosity. Generally, the sales department should be interested in a client who has a balanced ratio of formal and implied features. You should also educate clients. If you sell a product/service, which can vary depending on what the knowledge that client has about it, you can educate them on basis of scoring
You should also remember about validity period of the scoring and the fact that the effectiveness of the scoring system is very strongly influenced by the quality of the client base and the number of different information that it gathered there. If, in addition, to data about network activity we have data on activity in the real world, we can look at client behavior from a much wider perspective. According to research by Marketo in 2014, if the quality of our leads increased by 10%, sales efficiency increases by 40%. Remember to collect client data from every possible source, their appropriate storage, analysis and above all drawing conclusions
The most important benefit of scoring clients is to shorten the purchasing cycle and increase the likelihood of conversion. It also gives you the ability to customize marketing to client behavior and prioritization of its operating (hot lead, lead warm, cold lead) at every stage of the purchasing path. Such activities are made to establish a relationship with the client and build commitment, and consequently an increase in its satisfaction with products and services that you offer.
Research shows that 68% of marketers believe a well-functioning system of scoring and suitability of the content marketing has two factors that have the greatest impact on the revenues of the company. However, the preparation of the effective solution is not so simple. As was written in this article, a well-functioning system of scoring is based on qualitative database, overall (omnichannel) approach to the client and using complicated algorithms. One of the tools that provides solutions to that kind of scoring is a marketing platform Synerise. It will help you build and manage quality database, collect a variety of data about your clients (online & offline), and process them based on advanced algorithms. As a result, you prepare attractive and effective scoring system, which will positively affect the level of sales and client satisfaction.