Jon Spenceley, Community Marketing Manager @ Vidyard shares examples on how video content can supercharge lead scoring models with marketing automation platforms.
While most modern marketers are familiar with lead scoring, adoption of this powerful sales and marketing technique is still slow. Lattice Engines reports that in a recent survey, only 44% of companies were using lead scoring in their day-to-day marketing efforts.
Lead scoring is a powerful way to segment your incoming leads, and ensure that your sales team is only talking to the most qualified opportunities. This kind of insight has powerful implications; as Stu Shmidt, Vice President of Solution Sales at Cisco Webex said at the Sales 2.0 Conference, “A 10% improvement in lead quality can result in a 40% improvement in sales productivity.”
The first step in building out a comprehensive lead-scoring model is determining when a lead should be passed to sales. Marketing and sales coming to a joint agreement on the definitions of leads and opportunities based on scores thresholds is critical. The lead scores are calculated by your marketing automation system. Here’s an example of a lead score thresholds:
|61+||Sales Qualified Lead||Direct Sales Outreach|
How this score is built depends entirely on what your marketing team and sales team feel drives engagement. Having sales and marketing work together on these goals is important, as this sets the bar for when a lead is passed from marketing to sales.
Here’s an example of what lead scores could look like for some individuals based on their behavior and engagement with common marketing & sales activities:
|Behavior||Visitor 1||Visitor 2|
|Visited Landing Page (+3 Points)||3||3|
|Watched Explainer Video (+8 Points)||8||0|
|Viewed Case Studies (+5 Points Each)||10||20|
|Viewed Pricing Page (+5 Points)||5||5|
|Opened Drip Email (+3 Points Each)||3||6|
|Attended Webinar (+10 Points)||10||10|
In this example, Visitor 1 would fall under the Interested category, and would be funneled into a nurturing campaign of drip emails and marketing outreach, while Visitor 2 is qualified as a lead, and would be moved over to a telemarketing outreach, or a targeted email campaign.
While neither of these leads is interested enough to be sent directly to the sales team, additional interactions will contribute to their lead score, and thus move them towards a higher level of qualification.
Adding Video Engagement Data
One of the most powerful experiences your website visitors can have without meeting your team is through watching a video. Videos build trust and understanding faster than any other resource you can offer your prospects.
Whether you are offering a product demo video, a series of targeted webinars, or customer testimonials, visitors that commit to watching your videos are giving your content their undivided attention. This is why your video assets should play a key role in your lead-scoring mechanisms.
Vidyard pumps powerful analytics data on prospects’ interactions with your video content directly into your marketing automation system. This information can be used to score, segment, and nurture your leads. By tracking in-depth analytics on viewer behavior, we help you discover nuances of prospect behavior and ensure that highly engaged leads consuming your content are put at the top of the pile.
￼Here’s a simple set of scoring rules for a small set of video content:
|Video Content||Started Video||Viewed <50%||Completed Video|
|Product Explainer Video||+1||+6||+15|
With this model, lead score is impacted when a visitor clicks play on a video, but watching more than 50% of a video has a bigger impact. Furthermore, completing the video has a high impact on lead score as attention span is directly linked to prospects’ interest.
With the above lead scoring example, we have no time frame on engagement for this visitor – they may have consumed all this video content over a matter of months. But what happens when a prospect consumes a large quantity of video content over a matter of hours?
Using Video Volume to your Advantage
Many companies are adopting video testimonials and using video in their support and product education efforts, but marketing metrics traditionally only look at individual video results – not a lead’s viewing behavior across all video assets.
With this in mind, you can also adapt your lead scoring rules to look at how much video a lead has taken in during a time period, giving your sales team the power to follow up with leads when they are most engaged
Here’s an example of volume-based lead scoring rules:
|Prospect Has Viewed||In The Last 24 Hours||In The Last 7 Days||In The Last 14 Days|
|30 Minutes of Video||+10||+5||+2|
|2 Hours of Video||+14||+7||+3|
If a prospect has viewed six webinars in the last 24 hours, most sales people would jump at the opportunity to talk to such an engaged lead. By building your lead scoring rules around your video assets, you give your sales team the opportunity to follow up with prospects when they are most engaged. A study by the Harvard Business Review found that sales teams who tried to contact potential customers within an hour of receiving an explicit inquiry were nearly seven times as likely to qualify the lead, yet only 37% of companies did so.
The Bottom Line
Video content can be expensive – one high-quality product explainer video can cost upwards of $10,000 – so ensuring that this content is properly integrated into your lead scoring mechanism is the key to getting the most out of your video assets.
By leveraging the power of your video assets to enhance your scoring model, you help drive quality leads to your sales team, and enhance the ROI of your video content by integrating it fully into your marketing and sales funnel. Vidyard makes it all possible by helping your marketing automation system strategically increase the lead score of your prospective customers in real-time as they view your most engaging content.
How are you incorporating video assets into your content marketing and lead scoring programs?
Jon Spenceley is the Community Marketing Manager at Vidyard, and works with Vidyard’s partners to help their customers drive more revenue with online video. He’s happy when he’s making customers happy, and running events that bring amazing people together.