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How do you set up predictive lead score in HubSpot?



How do you set up predictive lead score in HubSpot?


HubSpot's goal is to help small businesses succeed by providing smart marketing technology solutions that empower them to be more efficient, effective, productive, and profitable. We believe this requires a better understanding of customer behavior than traditional advertising can provide. In other words, we want to know what people need before they even realize it themselves. That’s where our own data science team comes into play -- as well as some innovative new technologies created by us here at HubSpot HQ.

One example is predictive lead scoring. This feature helps marketers see who will buy from their business right now based on specific criteria like previous purchases or actions taken within the platform itself. It also shows which leads have high likelihoods for converting into sales, so you can prioritize those first. Here’s how.

How do you use predictive lead score in HubSpot?

Lead scoring has been around since long before the internet, but its implementation online hasn't changed much over time. The basic idea behind it is pretty straightforward: Identify which prospects would make good buyers for your product or service, then focus your efforts on convincing these individuals about why they should choose your company instead of someone else.

The problem with this approach is that there are way too many variables involved in any given sale (e.g., personal preferences, budget constraints, etc.) for anyone outside of the decision-making process to effectively determine whether a potential client might actually end up buying something from you.

Predictive lead scoring aims to solve that dilemma. Instead of trying to guess ahead of time which prospects may eventually convert into orders or clients, it focuses solely on identifying which ones have the highest chance of doing so. By using algorithms and machine learning models, it provides an objective measure of each prospect’s probability of conversion without bias or subjectivity.

This makes sense because humans aren’t great at making predictions when it comes to things like this anyway. We tend to overestimate our abilities while simultaneously underestimating others'. Predictive lead scoring solves both problems by helping you identify exactly whom to target with your content and offers.

It does all this through two main components:

Likelihood to Close (LTC) - A metric that determines how strongly each contact indicates he or she wants to move forward with a purchase after being exposed to your offering.

Contact Priority Score (CPS) - An algorithm used to assign numerical value to each contact indicating his or her relative importance compared to others.

How do you automate lead scores in HubSpot?

You don’t manually calculate LTC or CPS values yourself if you decide to take advantage of predictive lead scoring. They're automatically generated by HubSpot’s proprietary software, which gives users greater flexibility in terms of ad management.

That said, if you prefer working directly with raw numbers, you can always go down that path. You just need to enter some relevant information into the system. For instance, let’s say one of your top competitors recently published a blog post on HubSpot’s website. If you happen to find out shortly thereafter that one of your contacts read it, you could easily generate a prediction report showing him how similar his interests are to yours in order to figure out how strong his interest is in becoming a part of your organization.

To create such reports, you only need to follow three simple steps:

Select the type of lead score you wish to generate.

Enter the name of the competitor whose recent activity triggered this particular event.

Choose either "High" or "Medium" for the number of times your competitor posted something similar to what was shared with you.

Once you've followed these instructions correctly, your chosen metrics should appear on your screen immediately afterward. Now, all you need to do is compare your results against actual conversions to get a clearer picture of how accurate your model really is.

Afterward, if needed, you can adjust certain settings to fine-tune your parameters further according to your needs.



Can HubSpot do lead scoring?

Yes! As mentioned earlier, predictive lead scoring works by analyzing past interactions between your brand and different types of consumers. Using this knowledge, it identifies which kinds of people are interested in your products or services the most. Based on that info, it generates recommendations that allow you to reach the best possible audience.

When done properly, it not only increases your chances of achieving success, but it also reduces wasted resources spent on irrelevant campaigns. And the best part is that HubSpot's solution doesn't require additional hardware or complicated processes. All you need is access to our analytics tools and a little bit of creativity in figuring out how to put everything together.

Now if you were hoping to learn how to build your very own personalized landing pages, you'll definitely want to check out HubSpot Academy. This resource covers topics ranging from design basics to advanced techniques related to creating engaging messages tailored specifically for individual audiences. There's no charge associated with using this tool, but membership does come at a premium price.

If you'd rather pay per lesson, you can subscribe to the Academy monthly plan for $19/mo. Alternatively, you can opt for a yearly subscription for $159/yr. Regardless of which option you choose, you won't regret investing your time into watching short videos covering a wide range of useful tips and tricks.

How does predictive lead scoring work?

At its core, predictive lead scoring relies heavily on artificial intelligence and statistics. Its primary purpose is to analyze historical data collected from different sources throughout various stages of user engagement with your product or service. When combined with your existing marketing strategies, it uses this intel to forecast future performance outcomes.

In practice, it typically breaks down into four parts:

First, a machine learning engine analyzes consumer behaviors to classify them as follows:

Low priority = Contacts unlikely to convert into paying customers.

Medium priority = Contacts with moderate likelihood of converting into paying customers.

High priority = Contacts with the greatest opportunity for acquiring new customers.

Second, an automated module scans the profiles of every person on record to pull out pertinent pieces of information like age, gender, location, income level, among others. Then it assigns each profile a unique identifier known as a Lead Source ID (LSID). Lastly, it creates a mathematical equation containing multiple factors including demographics, psychographics, behavioral patterns, and other attributes.

Based on the outcome of each analysis, you can view detailed predictions for each contact. These include estimated revenue earned and cost incurred for each campaign run, along with a predicted conversion rate. Each result contains enough information to inform subsequent decisions regarding lead nurturing and targeting.

Third, a statistical method called Regression Analysis attempts to pinpoint which demographic categories correlate positively or negatively with the likelihood of purchasing your products or services.

Fourth, another technique called Naïve Bayes calculates probabilities for each contact. It basically compares observed events with expected occurrences based on previously recorded instances. Once again, this allows you to visualize and quantify trends that might otherwise remain hidden.

As you can probably tell from all of this, HubSpot's solution isn't meant to replace human judgment entirely. Rather, it serves as a supplementary aid designed to maximize efficiency and productivity. Ultimately, it still falls squarely under your responsibility as a marketer, though. After all, it's ultimately your job to make sure everyone who interacts with your enterprise ends up having favorable experiences. So it's important to remember that whatever strategy you adopt, you mustn't forget to adapt it regularly to stay competitive.

Lead scoring has been used for years as a way to determine whether or not someone should be added to an email list, but it's only recently that marketers have started using this strategy on social media platforms like Facebook and Instagram. This method uses data from the user’s profile to provide them with a personalized experience based on their interests, demographics, etc., so they can make more informed decisions about who to follow and engage with online.

In order to create a successful campaign, you'll need to know what kind of leads are worth spending money on. You may want to target people who already have some sort of relationship with your business, but if these relationships don't translate into sales, then those clicks will probably go down the drain pretty quickly – even if you're sending out high-quality content. That’s where lead prediction comes in!

But how does predictive lead scoring work exactly? And why would anyone care about it? Here’s everything you need to know about setting up predictive lead scores in HubSpot.

How do you check lead score in HubSpot?

The first step when creating any marketing plan is determining engagement goals, and there are two ways to measure success within HubSpot — click through rate (CTR) and conversion rate (CR). The CTR measures how many users actually clicked away from your page after viewing one or multiple pieces of content. CR takes things further by looking at actual conversions such as purchases, downloads, subscriptions, phone calls, form submissions, and other actions taken after clicking "next" on your landing pages.

Once you've got both figures established, you can start thinking about what type of information you'd like to collect from each visitor. In addition to demographic details, you can also ask questions about their current situation, needs, problems, challenges, pain points, frustrations, desires, hopes, dreams, and ambitions. This allows you to gain valuable insights into the person themselves that you could potentially leverage later during conversations with them.

With all of this information collected, you now have something called Lead Score. When calculating your lead score, HubSpot looks at certain factors including previous interactions between you and your prospects, along with potential future engagements. It also considers past behaviors and activity history, making sure to take into account the number of times they’ve visited your site, how long they spent interacting with various sections, how often they completed tasks, and similar activities. All of this data goes towards establishing a specific value for every prospect.

If you’re curious about how HubSpot determines lead quality, here’s how it works...

Does HubSpot have lead score?

Yes! For starters, let’s talk about the importance of having good subject lines. If your subject line reads “We noticed you viewed our website last week,” then chances are, HubSpot knows that they saw your post because they were interested enough in what you had to say. But if you craft a better headline, it might give off the vibe that you think everyone views your blog posts. So instead of writing “You read our blog right?,” try writing “Why we believe you read our blog last week.” Now, whenever a new subscriber checks out your page, HubSpot will look back over their recent behavior and see if they actually did view your blog.

Another thing to consider is the length of your emails. While longer messages tend to get opened more than shorter ones, too short of a message can deter readers without giving anything worthwhile enough attention. With HubSpot, you can choose to send different types of emails depending on the audience. There’s no limit to how much text you can put onto a single card, so feel free to write as much as you’d like. Just remember to keep formatting simple and clear.

Now that you have an idea of how the algorithm works, let’s move on to understanding how to properly utilize the tool.

How is predictive scoring determined?

After collecting all the necessary information, the next step is assigning your subscribers numerical values according to their likelihood to convert. Once assigned, your leads receive cards in their inboxes letting them know how closely matched they are to your ideal customer. As mentioned earlier, you can either show people that you deem worthy of being contacted personally or add them to your list. Since you’ll never know ahead of time who will end up converting, showing them higher quality leads helps you avoid wasting resources on people who won’t ever purchase from you.

A great example of this theory is Uber, which created its own version of predicting lead score. Instead of handing over credit cards to random strangers, Uber gives riders feedback regarding their driver and lets them decide whether or not to trust said drivers with their ride. Similarly, HubSpot assigns a rating to each contact based on their predicted probability of becoming a client, allowing you to prioritize your efforts accordingly.

When deciding who to reach out to first, you can select from three options. First, you can filter people based on age groupings. Second, you can narrow down your search by location, gender, industry, job title, education level, income bracket, and more. Lastly, you can find people currently working for companies associated with yours. This feature makes finding qualified partners easier while simultaneously saving your team precious time.

As far as what info gets included in their "card," you can request additional information from your subscribers via forms or surveys. What else is important to know about this process?

What happens once the lead score is calculated?

Once you have access to your newly-scored leads, you can begin crafting effective campaigns to help boost your brand exposure. By knowing who your best clients are going to be, you can focus your energy on reaching out to them individually rather than spamming dozens of others. After all, it doesn’t matter how low a lead score is if they aren’t actively engaging with your brand.

While HubSpot offers several tools designed specifically for lead generation, you can still incorporate traditional marketing tactics such as direct mail, print ads, billboards, and radio advertisements. However, since you’re trying to maximize ROI, it’s always recommended to test different formats before settling on a final approach.

One major benefit to using HubSpot is that, unlike other systems, it provides real-time analytics, helping you identify patterns in your traffic and pinpoint weaknesses within your outreach methods. On top of that, HubSpot automatically updates stats throughout the entire lifecycle of a given program. From tracking open rates to bounce rates, it tracks statistics across devices and browsers alike. This means you can easily track results from mobile devices, tablets, desktops, laptops, and smart TVs.

For businesses just starting out, HubSpot’s ability to integrate seamlessly into existing marketing strategies is especially helpful. Not only is it easy to implement, but it’s relatively inexpensive compared to other solutions. Its pricing system ranges from $29 per month to $299 per year and includes unlimited credits. These prices depend on the size of your company as well as the amount of active accounts you have, but they typically include features such as multi-touch attribution modeling, remarketing capabilities, native integration, and more.

Looking forward, HubSpot plans to expand upon its lead management platform, adding more features and functionality aimed at improving overall efficiency and effectiveness. Future developments include improved automation, dynamic segmentation, AI technology, and continuous optimization.

Predictive lead scoring seems like it’s here to stay. With all of the benefits it brings to the table, it’s hard to imagine that it wouldn’t continue to grow in popularity among big brands. Whether you opt to manage your leads yourself or delegate that responsibility to HubSpot, leading by example starts with putting yourself in front of potential buyers.

Lead scoring has been around for years, but it’s really only recently that many companies have started using this powerful tool as part of their marketing efforts. It provides an objective way of determining who should be given more attention from sales teams so they can focus on those leads with higher potential for becoming clients or partners. By setting up a lead scoring model within your CRM platform, you give your team access to historical data about each contact, allowing them to identify trends and patterns that will help them make better decisions when it comes to allocating resources such as phone time, emails sent out, etc. The goal here is to optimize every aspect of your pipeline by ensuring you spend adequate amounts of time talking to the right people at the right times. This article covers how you can do just that in HubSpot.

How do you calculate Lead Score?

HubSpot offers two different ways of calculating a lead's likelihood to convert into revenue—the "Likelihood To Close" (LTC) metric and the "Contact Priority" (CPT) metric. These metrics are calculated based on the number of calls made to a prospect, email messages sent, social media interactions, website visits, etc., over a period of weeks or months. When looking at LTC, we're interested in figuring out how high or low the probability is that this customer will eventually buy something from us. For CPT, we want to find out if there's enough interest already expressed to warrant further communication from our side. Both these scores take into account multiple factors including what type of relationship you've established with the prospect, whether he/she's opted-in to receive communications from you, her status in your own internal funnel, etc. Here are some examples of how both metrics work:

A prospect called three times and left one voicemail message during week 1. He also signed up for your weekly newsletter. In week 3, his company decided to renew its contract with another vendor. Based on this information, would you say that the prospect was unlikely to purchase anything from us in future? You'd probably answer yes because even though he did sign up for your newsletter, he didn't opt-out after receiving his first call, resulting in him being categorized under the Low Engagement category. On the other hand, if this same prospect called once and then opted-in to your newsletter, you wouldn't consider him to be unattached since he showed interest by signing up for it. Therefore, you might choose to send him a follow-up email asking if he's still planning to move forward with the project. If he does decide to go ahead, you'll need to reevaluate his position in your funnel.

In general, you can think of LTC and CPT as similar to "soft" versus "hard" conversions. A soft conversion occurs when someone clicks through from an organic search result to your site without any interaction from you, whereas a hard sale involves a direct action taken by the user like filling out a form or calling a specific number. Soft conversions are typically easier to track than hard ones, making lead scoring much simpler. However, depending on your product offering, target market, goals, budget, etc., you may not always see value in spending extra effort tracking down hard prospects. That said, let's look at how you can create a lead scoring system for your business.

What is predictive lead scoring HubSpot?

Predictive lead scoring uses statistical analysis to determine a lead's likelihood to convert into revenue. Your CRM software needs to provide easy access to historical data so you can easily run reports to analyze performance and forecast results going forward. Some features worth considering include:

The ability to pull in historical data directly from your existing database

Ability to export historical data to Excel for further processing

Accessible real-time analytics via KPIs and dashboard reports

Ability to compare various periods against one another to spot changes in behavior across segments

Once you've got everything setup, start running reports comparing certain parameters like engagement rate, average length of conversations, numbers of calls per day, total emails sent, etc. Over time, you'll notice commonalities emerging between segments. Once you get a clear picture, try breaking things down a little bit more to figure out exactly why certain behaviors occur. At this point, you'll know what kinds of content generate the highest response rates among those groups, helping you develop targeted campaigns moving forward. Then, simply import this information into your CRM platform and assign new variables accordingly. Let's walk through the steps required to set up a lead scoring system in HubSpot:



How do you create a lead score system?

Step #1: Go to Analytics > Data Management Tools > Create New Variable Group. Select Customize Variables.

When you open up the dropdown menu next to Define Metrics & Dimensions, select All Properties. Next, click +Customized Fields. Now, add the following fields:

Metric Name = CPV_CTC

Dimension Filter Type = Property Value

Property Field Label = Predicted Revenue

Default Precision = None

Precision Level Options = 0 - 100

Sort Order = Ascending

Data Source = Contacts

Aggregation Method = Sum

Optionally, if you want to display additional values alongside predicted revenue, you can also add fields for Average Length Of Conversation and Number Calls Made. Just remember to keep the Sort order field set to ascending!

If you don't want to worry about adding all these fields manually, you could alternatively download our free guide detailing how to build custom dimensions and measures in Google Sheets. After doing so, copy and paste your newly created variable group onto your spreadsheet, rename it appropriately, and continue working on creating more advanced filters.

This step requires you to actually input numerical values into your graph instead of displaying raw numbers. Make sure you check off the box next to Set As Numeric Values before proceeding.

To filter your data, head back to Home Screen > Filters. Click on Advanced Filters...

Set Up Your First Filter Using the CP Ratio Dimension

Select Property Value > Greater Than

Choose Contacts > Status > Not Opted-Out

Click Apply

Repeat Step 2 until you reach the end of the list.

Now that you've filtered away all non-converting prospects, click on Show Only Leads With High Conversion Potential. Hit OK. You now have a clean view of prospects with solid chances of converting into paying customers. From here, you can quickly sort them according to whichever criteria you feel is necessary.

For example, sorting by lowest LTC allows you to immediately prioritize your outreach efforts. Or maybe you prefer to narrow down your pool further by filtering by those who haven't reached out to you yet. Whatever the case may be, having access to historical data makes it super simple to pinpoint weak spots.

You can also tweak your filters whenever you want to change the outcome of your predictions. Simply go to Home Screen > Controls Panel > Edit Filters. You can adjust individual options by changing the values displayed along the top of the interface.

Step #2: Go to Campaign Manager > Manage Conversions > Convert Pipeline Activities. Under Performance Targets, enter a percentage representing how confident you want to be that this particular lead will ultimately turn into a client. Choose either 70%, 80% or 90%.

As mentioned earlier, you can also upload CSV files containing lists of leads to ensure accuracy. Once uploaded, you'll be able to define your own thresholds for identifying successful vs unsuccessful conversions. This feature works best when used together with automated drip sequences.

Step #3: Head to Home Screen > Settings > Automate Responses. Check Enable Auto Response Messages. Enter an appropriate template for your industry. Be mindful that auto responses cannot be edited once they've gone live. So if you ever need to edit or delete a prewritten message, you'll have to go through the standard workflow described above.

How is a lead scoring system set up?

After completing Steps 1 and 2, your next step will depend on whether you want to set up separate lead scoring profiles for different departments. If you're running a B2B organization, you'll definitely benefit from segmenting your pipeline based on department. Otherwise, set up one profile and stick to it. Either way, once you've completed building your lead scoring system, you'll be ready to begin tweaking your campaign tactics. Start monitoring your KPIs closely to see where improvements need to be made. And don't forget to share your findings with everyone else involved in the process.

With HubSpot, you can enjoy a host of benefits thanks to AI technology built right into your browser. Whether you're trying to manage hundreds of active users or thousands of inactive accounts, you can rest assured that you won't waste precious time dealing with unnecessary tasks. Plus, you won't need to rely on third parties anymore. Instead, you can leverage HubSpot's robust tools to streamline operations while increasing productivity levels.


Author

Mathieu Picard

CEO, Anyleads, San Francisco

We are the leading marketing automation platform serving more than 100,000 businesses daily. We operate in 3 countries, based in San Francisco, New York, Paris & London.

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