In the 'Leadspace on Leadspace' best practice, we're going to cover one of the workflows that we ourselves use here at Leadspace - database re-enrichment and activating 'hot' or 'A' leads. To learn more, follow these leads:
Refreshes by the Numbers
We recently completed our quarterly database refresh - if you're not doing this refresh already, it's something you'll want to consider.
Having completed the refresh, below are some of the stats we saw:
An additional stat not shown here is that 5% of our total database had moved companies! This means the following:
- CSM teams need to establish new relationships with power users
- Sales teams have existing buyers and champions who may have moved to new potential target companies
- Marketing teams have new target companies they can focus their ABM towardsare in new potential target companies
ICP & Scoring
As a part of our refresh, we rescored all leads against our ideal customer profiles. As titles and departments changed, promotions occurred, and companies experienced growth, leads that previously scored poorly were now moving up into high-scoring profiles of our ideal buyers.
Our workflow for targeting these leads is:
- New Hot Leads
- In Salesforce, we have a bucket created for our New Hot Leads and these are the leads that are prioritized to reach out to immediately.
- For us, a New Hot Lead is a lead newly scored with a high score (70 & above) - or that scored above 70 and has had a touch point within the last 72 hours.
- Open Hot Leads:
- We have a second bucket for Open Hot Leads
- These are all Leads with a Lead Status of Open with a 70 or above against any of our profiles.
- There is a third bucket for Nurture - leads that scored below 70. Nurtured leads receive outbound communication (email marketing), and based on interaction with our website & communication streams, leads can move up or down this status.
- We leverage behavioral scoring via marketing automation.
- Once lead reached a specific behavioral score (in our case, 70), they will move back into the “hot leads” queue.
Wrapping it Up
All of these changes may have a significant impact to your Sales and Marketing motions, and as such, you should coordinate internally and with your Leadspace CSMs to ensure you're able to activate these changes and drive positive outcomes for your organization.
To learn more about a Database Refresh, contact your CSM.