Episode 3 - Lead Scoring vs Fit Scoring

In this episode of the Bootstrapped Marketer, we delve into the crucial difference between lead scoring and fit scoring. I discuss the importance of tracking engagement through lead scoring and tailoring your content based on audience interaction

Episode Transcript

 Hey, so welcome back to the Bootstrapped Marketer. So if you are new in this podcast, I share everything I learned about marketing my previous companies  and the company I bootstrapped Hublead. So today episode, it's about lead scoring and fit scoring. So something I really like to speak about because there are a lot of confusions around that.  So, first of all, what is the difference between a fit score and lead score? So for me, it's a fit score is around the company and the lead scoring is around the contact. Okay. The contact engagement.  So we all know lead scoring. There are plenty of documentation around that. But it's really hard to implement that into your company because sometimes you don't really understand  why do you need a lead score inside your company. So why do you need lead score it's to track the engagement of your marketing content. Okay. There are a lot of people that are implementing a lead scoring  to get marketing qualified leads and gives them to their sales. According to the engagement on the content. And so I think this is not the thing to do. You only should give leads to your sales when they are ready to be called by your sales. So asking for demo, for example, like you need high intent. So in the end, you might have less leads to send to your sales team. But if you send too many leads and these leads are not qualified or not ready to speak with sales, it would just generate frustrations with your sales. So for me, lead scoring it's more about tracking your content performance. So, of course, for example, did they assist to the webinar you pushed  inside the newsletter. Did they read the article you pushed in the newsletter?  Did they  go to the contents you discussed in your podcast, in your YouTube videos? You're really into tracking your content performance overall. And you will be about to split your database into three parts, for example, like people with zero to 50 points, 50 to 75 points and 75 points to 100. I recommend you to have a scale like that zero to one hundred. It's because you will be able to see people between 75 and 100. And you're looking at how many people inside this database. Okay. So let's say for example, you have 100 people. If you only have 10, maybe you can work to a 15, 20, 25. And so more, you have people inside that segment of 75 plus points. The more your content is actually interesting. And at some point you can also create different lead scoring, according one pain point, or another pain point you're solving with your product or your services, for example. So in my HubSpot. I do have different lead scoring inside. And I have one lead scoring for this kind of pain poin, and I have another one for the second pain point, for example. And after you can really try to tailor your content according to your audience. So this is really handful to measure your marketing content. And also as a marketer, you don't speak a lot with customers or prospects, so you need to get feedback  and you usually get feedback from contact information on the CRM or from the sales team, but you need to have some KPIs you can get a feedback directly into your CRM,  and I speak about  quantitative feedback. So, now we defined the Lead Scoring.  For the Fit Scoring, as I said, it's more about companies. So what are we trying to do with that scoring? To me, there are two ways to do that first is to segment companies where you can have a higher ACV. So Annual Contract Value. The objective is to pull it a database of companies where you have higher chance to get more revenue per company  or you want to find a segment of companies that is like your customers are kind of a lookalike. And for me this way is the best one  because you will pull a list of companies  where theoretically they are closer to your customers, so normally you should have  higher close won ratio. This is way , because at the end, you will spend more time. Your sales people will spend more time on companies They can close quickly or they just know how to close, you know? And by looking at your customers, you will find some data points that are the same between customers. So you really see some patterns. So for example, this kind of companies are using the same technology  on their website or they have the same headcount. They have the same number of employees or things like that. Sometimes you will find patterns that are not relevent. And sometimes you will find patterns that is really relevant for your business  for calculating   the closed won ratio. And so thanks to that, you will be able to pull a list of 4,00 5,000 companies. For example, from LinkedIn sales navigator or whatever, and you will be able to apply your fit score on this kind of companies. And define what are the best companies to contact right away. And these companies, you can give it to your sales people and they can start prospecting  these companies,  because you know that you can get customers from this kind of list really fast. I hope you learn few things around fit scoring and lead scoring, if you have any questions, feel free to DM me on LinkedIn search for Bastien Paul Hublead happy to get your feedback and see you soon.