Lead scoring is a popular methodology used to rank prospects against a scale that measures the perceived value each lead represents to the organization. The resulting score is used to determine which leads sales teams will engage, in order of priority.
However, while traditional lead scoring methods have their merits, they often fall short when it comes to scalability and accuracy. HubSpot is a well-known, all-purpose marketing platform that analyzes a variety of data points and predicts which leads are most likely to convert. It’s an impressive tool, but lacks the sophistication of an AI-based platform like MadKudu.
In this blog post, we’ll dive into the workings of HubSpot's predictive lead scoring and how you can benefit from it. We will also touch on the best practices to get the most out of this feature, and how to take your lead scoring up a notch with MadKudu.
HubSpot's predictive lead scoring feature is part of its Sales Hub Professional and Enterprise packages. It uses machine learning to analyze hundreds of data points from your HubSpot CRM and your contact's interactions with your company.
The predictive lead scoring model in HubSpot is built using a logistic regression algorithm. This algorithm analyzes your existing customers and the actions they took before becoming customers, then applies this learning to score your current leads based on their likelihood to become customers.
It considers both positive and negative attributes—positive attributes are characteristics shared by your customers, while negative attributes are characteristics shared by contacts who did not become customers. Once the model is built, it assigns a score between 1 and 100 to each contact in your database. A higher score indicates a higher likelihood of the contact becoming a customer.
There are a number of benefits to using HubSpot’s predictive lead scoring for companies starting to build out their process.
HubSpot's predictive lead scoring offers a multitude of benefits that can significantly enhance your sales and marketing efforts. By leveraging this powerful tool, you can improve your sales efficiency, increase your conversion rates, and drive more revenue for your business.
To get the most out of HubSpot's predictive lead scoring, consider the following best practices.
HubSpot predictive scoring could be a good place to start, particularly if you're dealing with a large volume of leads and need an efficient way to narrow down the number your team needs to focus on.
However, HubSpot uses a “black box” scoring approach, which means you won't have insight into why leads are scored in a certain way. This lack of transparency can result in potentially hot leads being overlooked. It's also hard to get sales to trust these scores when there's no indication as to why HubSpot deems certain leads are likely to close.
To maximize your predictive lead scoring efforts, you need a revenue automation intelligence platform like MadKudu.
MadKudu is a predictive lead and account scoring platform designed to analyze your product, sales, and marketing data, surfacing prospects at the precise moment they’re ready to buy. This allows you to prioritize your best-fit inbound leads based on key characteristics and behavioral analysis.
In contrast to HubSpot's black box scoring, which provides no insight into why leads are assigned a certain score, MadKudu offers a more transparent "glass box" scoring model. This transparency allows your sales team to understand which signals contribute to a lead's high score, fostering trust between marketing and sales teams by providing clear reasoning behind lead assignments.
Moreover, MadKudu's scoring model is more nuanced and dynamic than HubSpot's, capable of adapting to changing data and market trends. It provides real-time scoring, enabling your sales team to respond promptly to high-potential leads. Unlike HubSpot, MadKudu can integrate with all your data sources, offering a comprehensive view of your leads and accounts.
MadKudu excels at prioritizing your best-fit inbound leads. It surfaces the leads most likely to buy based on key characteristics and behavioral analysis. This ensures your sales team can focus their efforts on the most promising prospects.
For businesses employing a product-led growth strategy, MadKudu can be a game-changer. It eliminates the guesswork in determining which product users are qualified, allowing your team to focus on turning them into paying users and enterprise customers.
When it comes to account-based marketing, MadKudu helps you identify the right target accounts to prioritize. It personalizes the buyer journey in real time and surfaces key personas and engagement signals for sales. This can lead to a substantial increase in your MQL to SQL conversion rate.
MadKudu is also an effective tool for driving revenue at every lifecycle stage. It identifies accounts ready to buy more, intervenes with churn risks, and proactively reaches out to customers at every stage of their lifecycle.
Ready to see how MadKudu can supercharge your lead scoring efforts? Get a personalized demo today.