Setting Up Salesforce Einstein Lead Scoring: 7 Easy Steps

on Activate, CRMs, Hevo Activate, Lead Scoring Models, Salesforce, Salesforce Einstein, Tutorials • July 15th, 2021 • Write for Hevo

One of the primary goals of any business is to generate leads and convert those leads into customers. This can be achieved through multiple sources like Events, Seminars, Expositions, etc. But if your Sales and Marketing teams struggle to follow up your Leads and are not able to convert them into customers, then all your efforts are wasted.

Well, there is a good solution to all this i.e. “Lead Scoring”. Lead Scoring is a vital Marketing Technique to grow your business, particularly where every bad decision in regards to your Leads can have an adverse effect. Although there are a lot of options for you in the market, the best in this field is Salesforce Einstein Lead Scoring. Salesforce Einstein Lead Scoring helps you keep track of your Leads. It helps you build an Automated Predictive Scoring Model for your business. This model can be used by your Marketing and Sales teams to prioritize Leads and convert them into customers.

This article introduces you to Salesforce Einstein Lead Scoring and the steps to set up Salesforce Einstein Lead Scoring. It also provides you with the advantages and disadvantages of Salesforce Einstein Lead Scoring and how it can be useful for your business.

Table of Contents

Introduction to Lead Scoring

Lead Scoring image
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Lead Scoring is a process of scoring your Leads and predicting the likelihood of them being converted into customers. The scores are based on the interests that your Leads show in your business, their current position in the Lead Cycle, and their future aspects of your business.

The Lead Cycle is the entire process where Leads are Evaluated, Segregated, Qualified, and make their way to the Sales team. Leads are first evaluated based on the criteria that would indicate their interest in purchasing or availing of a product/service. They are then segregated into 2 categories namely Qualified and Not Qualified. Point Values are assigned to each of the criteria of Qualified Leads. Based on these Point Values, the Sales team prioritizes the Leads.

The whole process of Lead Scoring has 2 major steps:

  • Determining the criteria that would indicate your Lead’s qualification: These are generally the characteristics that help to classify a Lead’s willingness and readiness to business with you. There could be multiple criteria like Location, Age, Email Responses, Content Engagement, etc.
  • Assigning Point Values to each of these criteria: In this step, you need to prioritize the above-determined criteria and assign them Point Values (Numerical Values). Sum of Point Values of all the criteria related to a Lead determines his/her chances of being converted into a customer. This can be used by the Marketing and Sales teams to prioritize Leads.

There are various Lead Scoring tools available such as Salesforce Einstein Lead Scoring, HubSpot Predictive Lead Scoring, etc., that can help your Marketing and Sales teams to build a Predictive Scoring Model for your business. If you want to know how Salesforce Einstein Lead Scoring works, then keep reading!

For more information on Lead Scoring, click here.

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Introduction to Salesforce Einstein Lead Scoring

Salesforce logo
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Salesforce Einstein Lead Scoring is one of the best Lead Scoring tools available for any business. It uses Artificial Intelligence and Machine Learning algorithms to score Leads and determines their chances of successfully converting into customers. Salesforce Einstein Lead Scoring discovers your business’s pattern of Lead Conversion and based on that pattern it helps you prioritize your Leads. It is user-friendly, swift, and provides highly accurate solutions than any traditional Lead Scoring tool.

Salesforce Einstein Lead Scoring analyses your previous Leads. It determines the common attributes between current and previous Leads. By default, it scores your Leads using all the fields but if you believe that a particular field does not affect your Lead’s quality then you can customize it as well.

Based on its analysis, Salesforce Einstein Lead Scoring creates a Predictive Scoring Model for your business. It reanalyses your Lead’s data every 10 days and updates your Lead Scores. Therefore, it does not miss any new trend or parameter in your Lead’s behavior.

Salesforce Einstein Lead Scoring image
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As you have now realized, how important it is for Salesforce Einstein Lead Scoring to have a good amount of data to create a Predictive Scoring Model for your business. But what if you have just started your business and do not have enough data to build a Predictive Scoring Model for your business?

Well, in such a case, Salesforce Einstein Lead Scoring uses a Global Model. The Global Model uses anonymous data from many Salesforce customers. And when your business accumulates enough data about your Leads, it builds a Predictive Scoring Model with your data and uses that model for better results. It automatically adds a “Lead Score” field which is used by the Sales team to prioritize Leads.

Steps to Set Up Salesforce Einstein Lead Scoring

Follow the below steps to set up Salesforce Einstein Lead Scoring for your business:

Step 1: Turn on Salesforce Einstein Lead Scoring

Go to the setup. In the Quick Find box, enter “Einstein Lead Scoring” and turn on Einstein Lead Scoring under Einstein Sales as shown in the below images.

Quick Find box image
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Einstein Lead Scoring drop down
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Step 2: Choose Between Default and Custom Settings

You will get 2 options. You can either go with the Default Settings of Salesforce Einstein Lead Scoring or customize your settings according to your requirements.

  • In Default Settings, Salesforce Einstein Lead Scoring scores all your Leads together and considers all Lead fields during Lead Scoring. If you choose default settings, you can skip the remaining steps and click on Score Leads.
  • If you choose Custom Settings, then on the Conversion Milestone page, select the Lead Conversion Milestone that matches your business practices. Once done, click on Save & Next and proceed to the next step.

Step 3: Create Segments of Leads

On the Lead Segments page, choose whether you want Salesforce Einstein Lead Scoring to score all of your Leads together or only certain Segments of your Leads that meet your criteria. To score Segments of your Leads separately, click on Segments of Leads. Otherwise, click on Save & Next as shown in the below image.

Segments of Leads settings
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Step 4: Add More Segments

If you want Salesforce Einstein Lead Scoring to score Segments of your Leads separately, click on Add Segment and then follow the below steps:

  • Give the Segment a name of up to 80 characters.
  • Choose the records that meet your criteria.
  • Add filter for the Segment. Click on Add Condition and then choose a field, operator, type, and value.
  • Repeat this process if you want to create more than 1 Segment and place them into priority order. You can create up to 35 Segments.
  • Click Save & Next.

Step 5: Select Lead Fields

By default, Salesforce Einstein Lead Scoring includes all the Lead Fields that help you to build the Predictive Scoring Model. If you want to include only certain Fields, click Include Fields and deselect the Fields you do not want Salesforce Einstein Lead Scoring to include as shown below.

Lead Fields settings
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Step 6: Review Settings Page

Confirm all your choices on the Review Settings page as shown below.

Settings Review page
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Step 7: Build Predictive Scoring Model

Once this is done, click on Score Leads. Salesforce Einstein Lead Scoring then analyzes your past converted Leads to build a Predictive Scoring Model for each Lead Segment. This can take up to 48 hours.

Advantages of Salesforce Einstein Lead Scoring

Salesforce Predictive Lead Scoring is used to build a Predictive Scoring Model. This helps a business to prioritize Leads and convert them into customers. Listed below are some of the other advantages of Salesforce Einstein Lead Scoring:

  • Centralized Lead Information: All the data is collected and stored in a centralized location. By using both complex Demographic Data and Behavioral Data of Leads, the Sales and Marketing teams can build a Predictive Scoring Model. 
  • Helps with Account Planning: Salesforce Einstein Lead Scoring has multiple features like Einstein Prediction Builder, Einstein Next Best Action, etc that can help with better Account Management. This can give your team the ability to build custom Artificial Intelligence (AI) Models to display recommendations most relevant to your business.
  • Easily Manages Teams: Salesforce Einstein Lead Scoring helps in streamlined workflows and can answer your Lead’s questions automatically. This increases productivity, opportunities for collaboration, and helps in better time management.

Disadvantages of Salesforce Einstein Lead Scoring

Listed below are the disadvantages of using Salesforce Einstein Lead Scoring for building a Predictive Scoring Model for your business:

  • Expensive: It can be a little expensive when compared to other Lead Scoring tools available in the market, especially if you have just started your business or have a small business. Salesforce Einstein Lead Scoring charges you extra for every additional access.
  • Customization Error: Customization of settings is generally required to get the maximum benefit for your business but any customization gone wrong can harm your sales and can be very expensive to repair.
  • Technical Limitations: Technical limitations like how Leads are processed, how Leads data is collected and stored, etc. can be confusing for non-technical members of your team.

Conclusion

This article provided an overview of Salesforce Einstein Lead Scoring. It introduced you to the steps to set up Salesforce Einstein Lead Scoring and helped you understand and implement them successfully. It also provided the advantages of Salesforce Einstein Lead Scoring over any other Lead Scoring tool. You can use Salesforce Einstein Lead Scoring to prioritize your outreach and gain valuable insights on your Leads.

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Share your experience of setting up Salesforce Einstein Lead Scoring in the comments section below!

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