If you're using Dynamics 365 for Sales, you may be familiar with the Predictive Lead Scoring (PLS) feature. It scores all open Leads based on an administrator-configurable model that helps salespersons prioritize and qualify potential Leads, thus hopefully increasing conversion rates. If you're not yet familiar with this feature, today's blog is for you! We're going to describe this feature and show you how to configure it and interpret the results. Enjoy!
PLS comes as a part of the Sales AI offering that is fed from a cloud-based predictive machine learning model from Dynamics Customers Insights. A business administrator can define scoring ranges in the model and apply the model to the get scores for all open Leads in the system. And just in case the business administrator prefers to re-score the Leads with current data, the Retrain Model option will help obtain updated scores. Yep, they thought of everything.
Dynamics 365 V9 or above.
The model requires no fewer than 100 Qualified and 100 Disqualified Leads.
Go to: Settings > Sales AI > Get it now.
Click Continue to install the feature.
After the installation, go to the Predictive lead scoring tab to define grading your Lead score grading. When finished, click Apply Model.
Lead scoring – output
Once the lead scoring is enabled in the organization, go to the My Open Leads Scored view to see the Lead Score, Lead Score Trend, and Lead Grade columns:
A description of each column follows:
Represented value of the Lead where highest value symbolizes the highest likelihood of successful conversion.
Lead Score Trend
Specifies the Lead trending direction, such as Improving (up arrow), Declining (down arrow), Steady (right arrow), or Not enough info. These trends are displayed by comparing the present lead score with the previous score.
Represented grade of the Lead (Grade A, B, C, and D) where Grade A symbolizes the highest likelihood of successful conversion.
Lead score insights – The Lead Form is customized with the Lead Scoring widget that contains scoring insights:
Lead score insights explained
Basic details: Lead Score, Lead Trend, and Lead Grade
Top 10 reasons for the Lead being scored as it was scored, which allows for further analysis to improvise the scoring.
Provides the ability for a User to provide feedback on the current score by indicating Expected score and associated comments.
Points to note
Configuration experience will be in Web client and end-user experience will be in UCI.
There will be only one score per Lead in the current version.
All integer, date, decimal, and dropdown (non-string) attributes of Lead, Contact, and Account entities (with their correlation) will be the primary factors contributing to the score generation.
Hopefully, you can see how this will benefit your organization. After all, pretty much every organization in every line of business has Leads – the trick is getting valuable insight into the quality of those Leads. And the Predictive Lead Scoring within Dynamics 365 gives you just that.
How Sales and Marketing Can Get the Most out of CRM . . . Together!
Competition is good; it motivates, it makes us better, and weeds out poorly executed ideas or plans. But sometimes competition within different business departments can be harmful to the business as a whole. A great example of this is the discord that can exist between sales and marketing. Today we'll be talking about how to get your sales and marketing teams to work better together with CRM!
The Great Divide
Technology has helped bridge the great divide between sales and marketing but often these two departments are placed in silos and have zero communication. Customer relationship management (CRM) tools have helped businesses bridge that gap. Through a company's CRM, you can monitor a lead's journey from new to closed-won. Of course, as you may know, it is easier said than done. To get the most out of your CRM there needs to be an understanding, a contract if so inclined, between sales and marketing. This agreement helps the sales team and marketing team understand and remember what their goal is: business growth.
There are regular discussion topics when marketing and sales have a meeting. Well, really just one: LEADS. How many leads do we have? Where are we getting more? When are we getting more? How much have these leads bought? What is the return-on-investment (ROI) for this campaign?
Answering the last question is our focus and is the blueprint for bringing sales and marketing together. Why? Finding the ROI brings the cost of the campaign (marketing) and how it turned into business (sales) together to give us an answer. On the flip side, if you think about the answers to the other questions we asked there would be blame thrown on either sales or marketing. Blame is how the divide grows but ROI is something everyone can get behind. ROI helps make business decisions.
So we turn this on you. Do you know what the real ROI is on your marketing campaigns? If you're not sure, it's time to find out.
If you're on our blog, you most likely have a CRM or have worked with a CRM. If you don't have a CRM, welcome! It's never too late to begin receiving information about your organization from CRM software. By 2017, the CRM market worldwide will hit $36.5 billion. With that type of money there are plenty of options to choose from, and Microsoft Dynamics CRM is one of the top choices.
Whichever you choose (we recommend Microsoft Dynamics CRM obviously) it's important to make sure you can get the most of your CRM data. Most CRMs can give you basic information on leads, lead source, phone calls, status, and plenty more right out-of-the-box. The one thing you need to make sure you have is the ability to score your leads. Being able to score leads helps you understand where individual leads are in your pipeline, how long does it take to closed-won, what content the lead has consumed, and most importantly, your ROI.
At PowerObjects, we have developed add-ons for Microsoft Dynamics CRM that help us understand the data behind the leads. Some of the top add-ons we use include PowerWebForm, PowerWebTraffic, PowerScore, PowerMailChimp and PowerNurture. With these add-ons we can see where the leads came from, how many times they've visited the site, what the lead's score is within our funnel, and create personalized marketing materials for each persona. We use all of this information to make better business decisions and understand our ROI through CRM.
Within a blog of 1,000 words or less, there isn't a lot of time to discuss the behind the scenes work that goes into getting the most out of your CRM. To this day our PowerObjects team meets on a weekly basis to discuss our plans for lead generation and understand what is working and what isn't. Before we even began our own projects, we sat down with multiple stakeholders within the organization. We discussed what works with our lead process and what doesn't. We created rules that outline the project's objectives. We used data and an understanding of our business to create persona buckets that we can place our leads into and nurture them with personalized content. We created nurture campaigns for each persona. Plus, we created a sales and marketing macro funnel to help visualize where a lead enters and where it goes as it interacts with our content.
To get started, keep the process as simple as possible. Keeping it simple can help you implement a minimal solution quickly. Getting it started ASAP will help you collect data and modify your marketing and sales campaigns to better fit your leads' desires. This process needs to be monitored constantly and reported on, at least, bi-weekly.
Pro Tip: Find someone that understands the capabilities of your CRM. This person can be in-house or a company of record but you should have an expert that can create the rules and edit the lead scoring without issue.
The answer to how sales and marketing can get the most out of CRM together isn't easy. Some will say it's a sales problem, others will say it's a marketing issue, but it's important to remember that your problem isn't an individual department one, it's a business problem. CRM is the glue for your sales and marketing departments. It will help you find your ROI and then optimize your lead generation. Giving you a process to create customers more efficiently but most importantly grow your business! Learn more about CRM and all the ways it can help your organization with these interactive videos!