Einstein Lead Score - Cover Image - Techforce Services

One of the biggest challenges Sales teams face is to which lead to pursue first.

The traditional sales strategy was to address all leads in the same way. Then based on the information you gather through meetings, customize the offer so as to convince the buyer to purchase.

The modern method is to find as much information as possible about the lead, present a customized proposal and then work to close the deal.

The latter method saves a lot of time for the lead. However, it also means your sales organization has to spend a lot more time doing research. So, on the one hand you may provide a great customer experience, on the other hand, your costs might go up.

This is not a situation you would want to be in.

Salesforce Einstein To The Rescue

Salesforce Einstein’s Lead Scoring can help you address this issue.

Einstein Lead Scoring Method

Once incorporated into your Salesforce org, Einstein looks at your company’s past leads to find patterns in your successful lead conversion history.

Einstein Lead Scoring then determines which of your current leads fit your success patterns best. Each lead receives a score indicating how well it fits your patterns, along with insights about which of the lead’s fields affect its score most.

Einstein Lead Scoring will help your sales reps prioritize which leads to follow when. This is done based on past conversions data that is already there in your system. Equally, importantly, based on the information you provide over a period of time, the accuracy of Einstein Lead Scoring will keep getting better.

In order to get the most of Einstein Lead Scoring, do these three steps properly

  1. Set Up Einstein
  2. Automate

Set Up

To begin with, ensure that your sales reps have the permissions to access and use Einstein Lead Scoring.

The set up will require you to understand the processes followed in your organization.

During set up, the first question you will have to answer is whether your sales team creates opportunities when they convert leads, or do they simply convert leads to accounts and contacts?

Your response will affect how Einstein will look for patterns in your past lead conversions. Once the processing is done, Einstein will provide a score for either a lead’s relative likelihood of converting to a contact and account, or a lead’s relative likelihood of converting to an opportunity.

To provide a score for the latter, sales reps must create opportunities during lead conversion.

The next decision in the step is to decide if all leads fields should be considered for calculating the score.

Some businesses use fields that don’t affect the lead’s chance of converting. For example, you might have a field that isn’t used until after a lead converts.

Telling Einstein to ignore those fields yields more accurate lead scores.

Before ignoring a field, make sure the field doesn’t affect the lead’s chance of converting. Ignoring fields that do affect lead quality decreases the accuracy of your lead scores.

Once you complete the set up, Einstein Lead Scoring will calculate each lead’s score. It will now be visible on the details section of each lead’s profile along with factors that contribute to the score. This will be the case for every new lead that gets added.

Einstein Lead Score - Techforce Services

What Einstein will also show you what factors contributed to the overall score. For example, Opportunities that have 3 contacts have a higher chance of converting than those with any other number.

Therefore every time a contact is added, Einstein will recalculate the score. This particular example may not have the highest impact on conversion. But it simply demonstrates what Einstein can do which you may not have been able to do otherwise.

Automation

Having qualified leads is good. Knowing which ones have how much chances to convert is even better.

However, given the volume of leads, that number can still be high. You can help your sales team do even better. Get the best of the best lead in their email inbox. Which ones are those? Well, it is here that machine learning and human intelligence can combine.

You can use process builder to do a host of things.

  1. Automatically alert a sales rep once the lead score goes above a certain score.
  2. Assign tiers to leads based on their scores
  3. Place leads in queues

Like with any machine learning algorithm, good data leads to good output. The information regarding the lead conversion process needs to be updated regularly with new information which you or the sales team think had an influence on the conversion.

Then Einstein can work its magic.

This is part 2 of our series on Salesforce Einstein. The first part is a primer on Salesforce Einstein. Click here to read.

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