ATLANTA, April 29, 2008 -- Defining a hot lead can be a struggle. In fact, nearly half of all BtoB marketers (48 percent) tell Forrester Research that lead quality is a top concern. Vtrenz's comprehensive new lead-scoring model can alleviate that issue.
A formalized process alleviates confusion over what constitutes a qualified lead. Vtrenz, a leading demand generation solution, is bridging the technology gap between marketing and sales teams with the launch of its advanced lead-scoring model. Lead scoring is a method of assigning points to different criteria for each lead that flows into a company's market¬ing organization. Vtrenz's new lead scoring model is designed to prioritize leads and determine the likelihood of each becoming a customer by taking into consideration both Explicit and Implicit prospect data.
"With the right lead management approach and the right technology to implement the program, lead scoring can deliver high ROI with limited effort," said Will Schnabel, vice president and general manager of Vtrenz Operations, Silverpop. "The two most important aspects of lead scoring are accuracy and effectiveness. As the only solution in the market is to provide an easy means to score both Explicit and Implicit activity under one model, we ensure that marketers are able to make informed trade-offs between all the important facets of their lead scoring approach."
Explicit scoring evaluates data provided by the prospect, including BANT criteria (Budget, Authority, Need and Timeline) and basic demographic and firmagraphic information such as a job title, industry and company size. More critical to the lead-scoring process is the ability to evaluate Implicit scoring derived from monitoring prospect behavior - Web site visits, white paper downloads, email opens and clicks, etc.
Bryan Brown, chief architect of the Vtrenz solution, further explains, "Best-in-class lead scoring models must account not just for the activity, but also for the recency and frequency of the behavior--how often and how recently a person took an action. By adding these two elements to the evaluation criteria, the Vtrenz model enables scores to go up or down based on prospect behavior."
He added that this is a critical component of a successful lead management solution because the quality of a lead changes both over time and as more or less interaction with the prospect occurs. If a person doesn't repeat an action within a certain amount of time, points drop off. Recency points can decay over time until the score reaches zero. If a person repeats an action, the recency score can be reset and the process begins again.
"A strong lead scoring model like that offered by Vtrenz helps close the gap between marketing and sales. Not only does the sales team enjoy a flow of better-qualified leads, marketing is able to monitor the results of its programs and track its successes," Schnabel said.
By assigning lead scores to prospects and monitoring their movement from initial inquiry to close, marketers obtain valuable insights into their own programs. They can determine, for example, where their best leads come from and what promotional offers are most likely to move leads through the sales funnel. Adjustments can be made to the marketing plan to improve the quality of leads generated, and resources can be better managed accordingly.
Vtrenz, a Silverpop solution, is the leading provider of integrated, on-demand marketing automation solutions, and empowers organizations of all sizes to generate demand for their products and services, close more sales and measure the impact of marketing activities. Silverpop delivers demand management capabilities through the Vtrenz solution to companies in in diverse industries, including clients such as Ciena, EDGAR Online, Pitney Bowes Map Info and United Way.
Silverpop is a premier email service provider delivering a comprehensive array of on-demand, Web-based software solutions serving the online relationship marketing needs of enterprise-level organizations throughout the world. With highly scalable tools supporting both high-volume BtoC marketing initiatives as well as demand generation activities for BtoB sales processes, Silverpop delivers a robust suite of marketing tools not available elsewhere in the marketplace. Best practices and white papers are available at www.silverpop.com.