Marketers are learning how to effectively leverage technology to make Big Data work for them, and lead scoring is a key piece of that puzzle. Lead scoring solutions scan databases for potential leads based on their specific purchase histories and the products you are selling, and aim to find the best leads based on attributes specifically for your company.
Meagen Eisenberg, vice president, demand generation for electronic signature vendor DocuSign, has included lead scoring in her marketing tech mix, and has come away impressed with the results.
Eisenberg’s team uses Eloqua as its marketing automation platform and has leveraged a lead scoring solution from Mintigo, which analyzed their existing customers and came up with a customer DNA that was common across DocuSign’s customer base.
“They found commonalities across our customers and educated us so we can now target more effectively. It’s more than searching for attributes like title, industry and size of company—it’s things like what products they buy,” Eisenberg says.
Eisenberg was impressed with her first trial run with Mintigo, and views it as another way to bring in leads for the sales team, as opposed to just another broad list purchase. DocuSign brought in 500 leads via Mintigo, and 117 of those actually responded and have been dropped into a nurture program for leads.
“I was really impressed that nearly 20% responded. That tells me [Mintigo] understands our customer DNA, and can go out on the Internet and find those leads that matched. I may look for 12 attributes for potential leads, but they go out and look at 40 or 50 attributes that I would never be able to easily figure out without data scientists,” Eisenberg says.
DocuSign has also had success with a lead scoring solution from Lattice Engines. This solution ingests CRM and Eloqua data, and looks not only at commonalities of customers, but a wider range of fields and what things actually triggered conversion (or using regression analysis, which variables tied to a sales opportunity being created).
Eisenberg says she and her team have focused on a dozen or so potential lead attributes including industry, size of company, title, and engagement on DocuSign’s website, as well as with its emails and products. Lattice Engines starts with a much larger pool of 1,000 attributes and eventually narrows that list down to 40 key attributes.
“They’re constantly learning with this algorithm and pulling in external data that I don’t have access to, like financials. They’re able to tell me if a company has taken recent funding or has a derogatory mark. They’re telling me if a company is social, if they’re tweeting more than 10 times a day, which means they’re probably more digitally savvy,” Eisenberg says.
By teaming up with lead scoring tech partners, Eisenberg and DocuSign have been able to search a much deeper pool of potential customers and come away with leads that are ready to learn about their products and services, which makes life easier for the brand’s marketing and sales teams.