HubSpot Predictive Lead Scoring: 5 Comprehensive Aspects

• July 5th, 2021

Understanding HubSpot Predictive Lead Scoring

When you are growing your business, you are focused on getting multiple Leads and start nurturing and developing your relationships with them. In the Marketing world, transforming your visitors into customers is known as a Conversion. It is important to understand that the quality of the relationship is more valuable than its quantity. But now the real question that comes up is, how do you determine which of your Leads want to build a relationship with you and your business. This is where HubSpot Predictive Lead Scoring comes in.

Lead Scoring is the process of assigning a value to each of your Leads to prioritize your outreach towards them. It determines the Lead-To-Customer conversion rate for all your Leads, examines different attributes to determine what makes someone likely to close as a customer, compares the Close Rate of customers with each attribute, helps your team prioritize Leads, and increases productivity and efficiency with your outreach.

HubSpot Predictive Lead Scoring is an automated Lead Scoring technique that allows you to keep track of your Leads. Unlike Manual Lead Scoring, you do not need to add any attributes or manage them regularly because HubSpot Predictive Lead Scoring takes care of that. You only need to set up your HubSpot account for which the steps are given in this article.

This article focuses on HubSpot Predictive Lead Scoring and how it makes it easier to prioritize your outreach efforts. It also discusses how HubSpot Predictive Lead Scoring works and helps you gain insights on your Leads. This eventually helps you grow your business and convert your Leads into customers.

Table of Contents

Introduction to Lead Scoring

Generic model of Lead Scoring
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Lead Scoring is a customized, rule-based system for ranking your Leads. It helps you categorize each Lead and helps you determine which Leads need more of your attention as well as which Leads have a high probability of getting converted into customers.

Key Parameters of Lead Scoring

The 5 important parameters of Lead Scoring are listed below:

1) Explicit and Implicit Criteria

Explicit Criteria are the information that has been shared with you directly by a Lead through a form on your landing page, your community pages, etc. While Implicit Criteria are the information that is more related to the activities and behaviors of your Leads.

2) Tiered Behavioral Scoring

This is where you rank the behavior of the Leads you get from the Explicit and Implicit Criteria. This is done using three steps:

  • Step 1: First, you need to analyze the behavior of your Leads across multiple Marketing channels such as your Website, E-mail Campaigns, Webinars, and many more.
  • Step 2: The next step is to rank and assign point values to each of their behaviors on each platform according to their level of importance.
  • Step 3: Once you have assigned the point values, you need to distinguish between Global Scoring and Local Scoring. Global Scoring is the criteria that are going to be applied to every Lead on all occasions. While Local Scoring is the criteria that are applied based on your Lead’s behavior. This gives you a closer look at your Leads and their behavior in a specific campaign.

3) Demographic Scoring

This component is based on your Lead’s identity rather than their behavior like the Lead’s Country of Origin, Age, etc. Although it sounds static for Lead Scoring, it is equally essential. You can get all this information by consulting your Buyer Personas, a general representation of your ideal customer.

4) Negative Scoring and Degradation

This parameter is one of the most important parameters of Lead Scoring but is often neglected by Marketers. As the name suggests, this parameter focuses on deducting points for the Leads that do not meet the criteria. It prevents Leads that do not meet your requirements from being passed on to the Sales team. This makes it important for you to understand that the Lead Scores for your Leads are not fixed and fluctuates based on their behavior.

5) Cooperation between Marketing and Sales Teams

This parameter is focused on the collaboration between the Marketing and Sales departments. You need to align your goals for Lead Scoring between both departments. You also need to ensure that the Sales team is involved in establishing your requirements. This will help you save time and money.

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Introduction to HubSpot Predictive Lead Scoring

HubSpot Logo
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There are a lot of steps that go into Lead Scoring to find out the Leads that you want to prioritize. You first need to figure out all the criteria that make a Lead more likely or less likely to become a customer. Once you identify these criteria, you need to figure out how much each criterion weighs. This makes it time-consuming. It is important to be efficient and productive in this process and to help you with that there are many Marketing Techniques available such as HubSpot Predictive Lead Scoring, etc.

HubSpot Predictive Lead Scoring is a Technique that uses Machine Learning to analyze thousands of data points to predict which Leads meet your requirement. It finds patterns in your customer’s behavior to give you valuable insights into them. This, in turn, gives you and your business an efficient opportunity to prioritize your outreach so you can create relationships with the right people, at the right time.

HubSpot Predictive Lead Scoring Properties

HubSpot Predictive Lead Scoring Properties uses Machine Learning to analyze your customers to determine the probability of your Leads converting into customers in 90 days. To help you gain insights into your Leads, HubSpot Predictive Lead Scoring provides you with two Contact Properties. These store information about your Leads such as their Email address, the last time they filled out a form, etc. The 2 Contact Properties of HubSpot Predictive Lead Scoring are:

1) Likelihood to Close

This is a Contact Property that is automatically assigned to your Leads by HubSpot Predictive Lead Scoring. It is a score that represents the percentage probability of a Lead converting into a customer within the next 90 days. It is based on a lot of factors like your Lead’s behavior, when compared to similar Leads how they have worked with your Sales team, etc. For example, the contacts with a Close Probability Value of 42 have a 42% chance of becoming a customer in the next 90 days. Therefore, the higher the percentage the higher are the chances of Lead-to-Customer conversion.

2) Contact Priority

This property of HubSpot Predictive Lead Scoring represents four equally sized tiers of your contacts:

  • Very High
  • High
  • Medium
  • Low

Each of these categories is based on the Likelihood to Close Score and is relative. Therefore, the range of these scores in each tier may shift over time. The tiers are especially useful for creating CRM filters to segment your best and regular Leads.

Setting Up HubSpot Predictive Lead Scoring

This section will provide you a step-by-step guide to set up your HubSpot account for Predictive Lead Scoring.

Step 1: Log in to your HubSpot Account

Go to the official website of HubSpot and Log in to your HubSpot account.

HubSpot Login page
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Step 2: Create Filters for the Likelihood to Close Property

To create filters for the Likelihood to Close property of HubSpot Predictive Lead Scoring, follow these steps:

  1. Navigate to Contacts on your Navigation Menu.
  2. Click Add Filter and select the Likelihood to Close property.
  3. From this property, select is known.
  4. Click Apply Filter > Save.
  5. Give your filter a name.
  6. For the audience, select Private, Your Team, or Everyone.
  7. Click Save.
Add filters for your HubSpot account
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Step 3: Create Filters for the Contact Priority Property

To create filters for the Contact Priority property of HubSpot Predictive Lead Scoring, follow the same steps as Step 2 but instead of selecting Likelihood to Close, select Contact Priority.

This is how simple it is to set up your HubSpot Predictive Lead Scoring account. Once your account is set up, you can evaluate and review your Predictive Lead Scores. You can also share these insights with your team and prioritize your Leads. To access the Contact Properties of HubSpot Predictive Lead Scoring, you can follow these steps:

  • Step 1: Open your HubSpot account.
  • Step 2: Click the Setting Icon in the main navigation bar.
  • Step 3: In the left sidebar menu, navigate to CRM (Customer Relationship Management).
  • Step 4: There you can find Properties.
  • Step 5: Search or browse in the Contact Information property group for Likelihood to Close and Contact Priority.

Limitations of HubSpot Predictive Lead Scoring

Although HubSpot has made it easier for every business to prioritize their Leads by Predictive Lead Scoring, there are a couple of limitations that you need to understand before considering it for your business. Listed below are the limitations of HubSpot Predictive Lead Scoring:

  • Your Business can become Data Hungry: HubSpot Predictive Lead Scoring is data-driven as it using Machine Learning to analyze all your Leads. Until you don’t have a huge amount of data to feed, it would not be much of a success for your business.
  • Complete Dependence on Black Boxes: It uses Predictive Machine Learning algorithms known as Black Boxes which provide you with predictions but don’t show how the prediction has been made. So basically your team would not know how a certain individual is a qualified lead while the other is not. They will just have to trust the model.
  • Your Product and Target Market should be Stable: Your Target Market and product should be stable because if your Target Market changes, your Sales Data loses its value for Analytics.

Conclusion

This article provided a comprehensive analysis of HubSpot Prediction Lead Scoring and how it can help you grow your business in the right direction. It also showed you how you can set up your account to evaluate and review your Leads. With a couple of limitations that are easy to take care of, it has shown how effectively you can use HubSpot Prediction Lead Scoring to prioritize your outreach and gain valuable insights on your Leads.

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