Identifying and nurturing high-quality leads is key to driving growth and revenue for marketing. However, basic lead scoring models may not be enough to accurately capture the complexities of the modern B2B buying process. That’s where buying group scoring comes in.
Scoring elements can be used to prioritize leads based on different factors. They allow you to rank, segment, and organize your prospects to help you determine where they are in the buying process and how you should engage them to move them down the funnel and ultimately get them to convert. We recommend that marketers use a combination of scoring methods to help best approach your leads.
In our recent study, The 2023 Marketing Data Impact Report: B2B Marketers Under Pressure to Prove It or Pull Their Hair Out, we asked marketers which scoring elements they were using and found that 57% use engagement scoring, 56% use lead scoring followed by buying group scoring at 40% and account scoring at 36%.
What’s interesting here is that when we looked at the data, we saw buying group users were seeing some major benefits the rest of the data set wasn’t.
Buying group users are seeing real outcomes that prove what they’re doing is working: better metrics and higher revenue.
From increased click-through rates to better lead velocity—buying group users are performing better than their peers. Those who have implemented buying group scoring have reported significant improvements in their key marketing metrics when compared to those who have not adopted this strategy.
When it comes to converting their audience, they drive more considerable impact. They’re seeing 1.6X campaign conversions compared to those who don’t use this scoring method.
Buying group users are driving higher revenue growth. They reported a significant increase in revenue at a rate 1.75x more often than the rest of the data set.
These marketers are seeing real results and they expect to continue down this path. They’re more confident than their peers that they will hit their goals for the next quarter.
By scoring leads based on the collective behavior of decision-making groups, these marketers can better identify high-quality leads and tailor their marketing strategy to specific groups of decision-makers. This helps them refine their campaigns and optimize their efforts, like running more effective lead nurture programs.
Buying group users are confident in their ability to prove the value of their efforts. When compared to their peers they reported they were able to prove value significantly more across each category we surveyed them on.
With 41% of marketers reporting the pressure to prove the value of their efforts was too high, knowing buying group scorers were better able to prove value is not an insignificant finding. If you’re feeling the pressure to prove your value, start by building out a buying group scoring strategy.
Buying group users are more likely to be using the right data. They know they’re using the right data to convert audiences because it’s proven in their pipeline. This “right data” isn’t going to be the same for every organization, but it concerns how you use your data and, as a result, the outcomes you’re able to produce.
These marketers report they are using the right data nearly 2.5X as often as their peers. This is a huge gap between buying group users and the rest of the data set. Having data that allows them to score for the buying group helps them better understand their audience and improve conversions.
Buying group users want to improve their existing buying group scoring process. Interestingly, they’re significantly more concerned with improving this than the rest of the data set is with any of their scoring methods. With 60% of buying group users saying they feel they need to increase or improve their buying group scoring elements, this means that they are recognizing the benefits and want to build on their success.
If you are purely doing traditional lead scoring, it’s an ideal time to start sophisticating your scoring methodology. While there are benefits to all types of scoring and they complement each other, buying groups scoring has emerged as the leader of the pack. It’s the most impactful and modern approach that marketers are reaping the benefits from. Buying group users see better results, drive more revenue, and are more confident in their ability to prove the value of their efforts.
Ready to learn more about buying groups and how to use them in your B2B marketing strategy? Read our blog How to Identify and Evaluate B2B Buying Groups.
Learn how your peers are using data to build audiences, drive conversions, how they feel about performance, and takeaways to help better achieve your goals in our full report.
