Quality scores
Last updated
Last updated
EngineRoom's Quality Score is a Predictive Machine Learning model that assigns a score from 1-10 to each incoming lead for your business, extensively trained on a historical dataset with various User Engagement metrics including but not limited to:
Number of Pages Viewed
Session Duration
Number of Sessions
Number of Clicks
Scroll Depth Percentage
Session Attribution (Source/Medium)
Thirty-five input variables were tested for correlations to whether a “sales conversion” occurred.
The top ~5 variables were selected based on discriminatory power, and each bucketed into intuitive, distinctive segments and converted into binary variables. This was done via a process called One Hot Encoding that converts categorical variables into numeric variables so they can be used in Machine Learning models. This method is also used with numeric categories (i.e. age groups) to capture any non-linear relationships that might exist.
This approach ensures our model is finely tuned to predict lead conversion with high precision, utilising historical conversion data to pinpoint the most promising leads based on similar patterns observed in past successful conversions.
Note: This is only available to customer's with active sales cycle data.
Each of the selected model variables above is assigned a unique coefficient that represents the correlation to a sales conversion
For a specific lead, the coefficients and intercepts are entered into the below equation, to produce a linear combination and then transformed to calculate a predicted probability of conversion:
The output “p” is a probability between 0 and 1, with higher probabilities corresponding to leads of higher quality
This probability is then converted into a lead quality score that lies between 1 and 10
The lowest quality leads receive a score of 1, while the highest quality leads receive a score of 10
The remaining leads are normalised accordingly
The model has been applied on all leads over the past year, demonstrating exceptional ability to differentiate between leads that convert into sales vs those that do not.
Low (Score of 1-3)
5,050
200
3.9%
Medium (Score of 4-6)
2,900
170
5.7%
High (Score of 7-10)
2,270
300
13.3%
The top 25% of leads identified by the Lead Quality model captures almost 50% of all sales conversions
Remarkably, 13.3% of the leads receiving a quality score greater than 8 resulted in sales conversions
This contrasts with the 3.9% conversion rate for leads scored between 1 and 3