What Are The 4 Dimensions of a High-Performing Lead Scoring Model?

DEFINITION
There are four dimensions in a high-performing lead scoring model, each of which indicates how effective your lead scoring model is: Conversion, Velocity, Value, and Volume.

💡Understanding The 4 Dimensions of a High-Performing Lead Scoring Model 

Lead scoring models are complex and dynamic (or at least they should be). Proper models are going to be accounting for multiple different factors, including fit, activity, recency, and frequency to help your sales team identify high-intent sales opportunities. 

This means that finding a lead scoring model that’s perfectly tailored to your business and audience may take some testing, especially since we recommend starting out with just two or three data points for fit and activity each and then working your way up.  

As you’re assessing your lead scoring models, you’ll want to look at four different qualities or “dimensions” of that scoring model. 

The four dimensions of a high-performing lead scoring model are:

• Conversion. What conversion actions is the user taking, and how likely are they to convert? You should see the quantity of conversions increase with a solid scoring model. 
• Velocity. How quickly are users moving through the customer journey? A good lead scoring model should help reduce your time-to-close rate. 
• Value. We all know that users convert at different values; someone may become a $10-a-month subscriber while someone else becomes a $2,000-a-month subscriber. The right scoring model will help you increase your overall value of conversions in addition to the number. 
• Volume. In addition to driving a higher win rate and a higher conversion rate, the right lead scoring model will also give you the information you need to get a higher quantity of leads into your database, too. 

🖋 Takeaway

We can’t stress enough how important it is to test your lead scoring models and assess them for Conversion, Velocity, Value, and Volume. A good scoring model will impact any of the above; a fantastic lead scoring model will positively impact all four. 

These traits are all useful to evaluate individually, but eventually, you’ll ideally have lead scoring models that are succeeding in each area. That being said, it’s best to start slow when you’re getting started.

We often recommend focusing on a single metric at a time. In many cases, starting by focusing on either Conversion or Value is a great choice because it can accelerate revenue extremely quickly by helping you find and nurture higher-quality leads in the pipeline. 

Once you’ve selected a metric, you can create A/B tests with your scoring models to see how small changes impact the customer journey and your end results. You may add or alter a data point, for example, and find that you’re able to increase the value of your conversions significantly by sending relevant upsells to the right people.

And after you’ve tackled that first objective, you can move on to the next. Run more A/B tests (a built-in feature at Breadcrumbs for this exact reason), and make sure that you’re maintaining the first objective while working on the second.

What is a lead scoring model? 

A lead scoring model is a model that assesses different qualities of specific users using a points-based system to help you determine how likely they are to take a certain action. Breadcrumbs uses a co-dynamic alphanumeric system that assesses both firmographic fit and activity. 

What are the four dimensions of a high-performing lead-scoring model? 

The four dimensions that can indicate a high-performing lead scoring model are Conversions, Velocity, Value, and Volume. 

What is Conversion in lead scoring? 

Conversion in lead scoring is your conversion rate, which is calculated by the total number of conversions divided by your total number of leads within a specific time frame. 

What is Velocity in lead scoring? 

Velocity in lead scoring assesses how quickly leads become customers after entering your pipeline. The goal is to close the lead-to-customer journey so that more leads are converting faster. 

What is Value in lead scoring? 

Value in lead scoring evaluates the value of each individual lead or converted customer. Some leads are more likely to have higher-than-average order values or retain longer (or both); these are more valuable conversions, and ideally, you’ll see this increase with a good lead scoring model. 

What is Volume in lead scoring? 

Volume refers to the total number of leads coming into your pipelines; a good lead scoring model will help you better understand what your ICP is so you can target more higher-value, likelier-to-convert users moving forward.