Most people are familiar with the credit report commercials featuring the hapless musician driving a used subcompact because his FICO score is too low to get a car loan. While amusing, the message is a serious one: The higher the score, the better.
The same concept can be adopted by marketers to effectively drive more revenue. By incorporating the concept of scoring engagement, you glean insight into the buying readiness of a prospect or customer.
Engagement scoring enables marketers to focus precious resources on prospects who are most likely to become customers, and to gain insight into current customer relationships that could yield additional revenue opportunities.
Determining an Engagement Score
An engagement score is a numerical figure assigned to an individual or company based on activity and behavior. The more a prospect or customer engages with your brand, the higher the engagement score. Marketers assign points to specific actions, such as clicking a link in an email or visiting a webpage, and prospects earn an engagement score based on their corresponding behavior.
To set up an engagement score model, database marketers must first identify which prospect and customer interactions reflect highly valued engagement. Is an email link click worth more than attending a webinar? Is a face-to-face meeting the most valuable form of engagement? Each company is different, but looking at historic activity data will help determine the scoring rules.
Once the scoring rules are set, your organization will need a system to track activity data, calculate engagement scores and visualize engagement levels so it is easy to see where prospects and customers are in the customer lifecycle.
Steps to Increase Customer Engagement
Once an engagement scoring model is in place and a system to manage it is implemented, there are four steps that will help boost engagement scores: