We use our account scoring tool every single day - it's the backbone of our sales and marketing strategy. Deals from our high-scoring accounts are larger, close at a faster clip, and are likely to renew over time because they're a great fit.
We know the power of doing account scoring, and we were intentional about implementing it in a credible way. Now, we want to share how we did it and the methodology behind our account scoring product.
Account scoring helps sales teams spend more time selling
Account scoring and prioritization gives sales reps time back to do what they do best - sell.
According to research by Inside Sales.com, reps spend only 36.6% of their time engaged in revenue-generating activities. With so much time spent on research, it should come as no surprise that sales reps view prospecting as the toughest part of the sales process. More specifically, account and contact research was rated highest of the sales tasks that were both time consuming and least effective.
Instead, we focus on getting high-quality company data sets into our internal CRM so our reps don't need to spend as much time on research. Then, with account scoring, we help our reps prioritize which accounts they should prospect into. This eliminates some of the tedious account research that goes into prospecting into a new account.
How we tune our account scoring model
Our account scoring model is iterative and organic, not set and forget. Unlike black box-style account scoring solutions, we can easily tweak our account scoring weighting for data points, giving them a positive or negative custom weight.
As our sales and marketing strategy evolves over time, we make sure our account scoring model stays in lock-step. If we shift towards a particular vertical, or there's a board-level mandate to move up-market, we can immediately update our account-based scoring model to reflect those changes.
Transparency drives feedback and credible account scoring
If reps can't see into the account-based scoring system, they can't provide the valuable feedback required to iterate on the scoring model.
Instead, we put our account scoring insights front and center on Leads, Contacts, and Accounts in Salesforce, so reps see at a glance why a company is a great fit (or not). This gives reps confidence that they're spending time in the right place, and gives them content for crafting a relevant talk track.
When fed the correct inputs and data, an account scoring model that is controllable and transparent provides credible results.
If you'd like to apply this same process to your CRM for higher-value, better-converting accounts, demo our account-based scoring tool today.