Companies that excel at lead nurturing and scoring generate 50% more sales ready leads at 33% lower cost, according to Forrester Research. These companies score things like:
- Website visits
But a lead’s activity and interactions with so many of these items are categorized on a binary scale. In other words, they’re yes or no questions. Did they click-through the last email–yes or no? Did they visit the product page–yes or no? Did they download the whitepaper–yes or no?
Which means that the sandwich’s guts, you know–the meaty part–is left undiscovered and unmeasured. Did that prospect actually read the report they downloaded? Did they read the content on the product page they visited? Hey–are YOU going to read this whole blog post?
A large opportunity lies in qualifying interest within a particular content piece.
Imagine Jack, one of your prospects, starts watching your product demo video but exits after 6 seconds. Medina, another prospect, watches the full 63 seconds, and even re-watches the part that describes your product’s biggest benefit.
You tell me: who’s the most qualified lead?
Right. So why is your sales team spending the same amount of time prospecting both Jack and Medina? Shouldn’t this digital body language, which signifies a prospect’s interest in your company and product, be reflected in your lead scoring model?
Don’t worry, I can hear you. You’re yelling “YES!” from your desk as you’re reading this. I know.
Well lucky for you, video is one of the few mediums that facilitates this. With video’s linear nature, you can see if someone’s watched the entire video from start to finish, dropped off mid-way through, or maybe even re-watched a really captivating component.
There are three components of lead scoring with video:
- Topic-based video lead scoring
- Percentage-based video lead scoring
- Volume-based video lead scoring
Let’s dive into each one and explore who’s the better lead: Jack and Medina.
1. Topic-based Video Lead Scoring
Different videos probably apply to different stages of your prospects’ buying journey. As a result, the topic of the video that a prospect has consumed should tell you some valuable information about what stage they’re in. If Jack’s watched two top-of-funnel videos, while Medina’s watched a testimonial video, product demo video, and a webinar, Medina’s likely much more likely to purchase. And her score needs to reflect this, which means assigning smaller values to top-of-funnel videos and larger values to lower-funnel videos.
The example below shows the different ways you might score Jack and Medina.
2. Percentage-Based Video Lead Scoring
Just like the first example I spoke about with Jack and Medina, a lead that views more of your video should receive a higher lead score than someone who clicked play, only to immediately get distracted by the office cake that just rolled in, and exited the video.
Instead of setting up your lead scoring model on a second-by-second basis, it often makes sense to create time buckets. So you might create a single score for anyone that consume less than half of the video, another for between half and 90% of the video, and yet another for over 90%.
Your model might be set up something like this:
Note that we still take into account the topic of the video here, too. Videos higher in the funnel receive lower scores than those lower in the funnel.
With this model, Jack and Medina might be scored like this:
With the percentage-based lead score method, where we’re measuring engagement in the content, Jack actually received a higher score. Which shows us that not only is the use of multiple types of lead scoring methods crucial to capturing the full story, but it’s also precisely why marketers need to include a component of your score that evaluates whether your audience is actually consuming your content.
3. Volume-Based Video Lead Scoring
This approach moves away from looking at each video on an individual level and takes a broad view of all the video content your leads are consuming. There’s probably no convincing needed when I say that someone who spends more time on your site watching videos is likely more interested in your offering than someone who never watches your videos!
I mean, duh.
When scoring based on total volume, it’s important to pay attention to the recency of that consumption. Obviously those that have viewed more recently are likely of a higher quality. Your volume-based lead scoring model might look like:
Based on this model, here’s what Jack and Medina’s volume-based lead scores might look like:
Which means Jack and Medina’s total lead scores from video content would be…Drumroll!…:
Yes, you probably all guessed it: Medina is the more qualified lead–at least based on her video consumption!
So should you wrap Medina up and ship ‘er over to sales?!
That all depends on what your sales and marketing teams have determined your threshold score for sales-ready leads to be. One thing’s for sure, though, you definitely have a much deeper understanding as to the motivations of your various leads from their interactions with and consumption of video content! And that means you can set them up on the right nurture track to prepare your top quality leads for the next journey in the buying process.