Based on how you have configured lead scoring, leads will begin accumulating score values based on the information you have gathered about them, as well as the event activity they have taken with your website. Lead Scoring is a fantastic tool to help segment and prioritize the leads that land in your sales funnel, but one of the key considerations a business should take into account when using our Lead Scoring system is how long score value should remain static, without decrementing.
For example, if a lead "John Smith" visits your website today, views every page with a lead score rule, and fills out the entirety of their information on a Contact Us form, John Smith will accumulate a very high lead score. If John Smith never returns to our site, without a system to decrement his value he would be inaccurately flagged as a "Hot Lead" in perpetuity. In order to mitigate this and provide an accurate reflection of the lead's engagement, we use Lead Score Decay.
What is Lead Score Decay?
Lead Score Decay is effectively a half-life, and represents the amount of time it should take for a lead to be half as important as it used to be. In SharpSpring, your decay is based on the Lead Score Half-Life you setup, from 1 week up to 52 weeks (incremented in one week periods). Alternatively not to use the decay at all. The latter is not recommend, as without some sort of Lead Score Decay, score values would remain static, even if a lead takes part in an event activity on one day, and never takes part in an event again.
How does it work?
Once you have set your Lead Score Decay time period, all lead event activity will decay based on that timeframe. The decay will be calculated daily across the chosen time period. If the lead takes part in no further event activity during that time period, that the lead's score will have decayed to be half the value of the initial score.
The chart below shows how a lead score with a Lead Score Decay time period of 4 weeks. We can see on day 28 (week 4) that our score value, which started at 250, has decayed down to 125.
How future event activity increments the score
Lead Score can be incremented by either an event activity a lead takes part in (website visit, form submission, etc.) or information the lead provides (First Name, Last Name, Email, etc.). It's important to note that activities will decay over time, while information does not. To put this into perspective, if a lead submits a form with their Name, Email, and Title, the value of that information will not change. Alternatively, the event of the form submission (and associated website visit) will decrement over time, as if a lead has not been on our website over the course of a few weeks, that previous event is not as valuable due to the duration that has passed since the form submission/visit.
If a Lead takes part in an evemt that would increment lead scoring during the decay period, their lead score will grow based on the specific event. For example, if a lead gets 25 points for providing their email address (information) and 10 points for visiting companyname.com/pricing (event activity) their lead score will grow based on the Lead Score Rules you have configured.
As the lead's score decreases over time, the next event activity a lead takes part in that increments their score will count from the current value, which includes any decay up until that point. For example, if a lead had a score of 100 which decayed down to 60 after the course of a few months, and that lead then took part in an an event that incremented his lead score by 20 points, the new lead score would be 80. Decay activity is event specific, meaning that if a lead took part in Event A on January 1st, which accumulated 80 points; and Event B on February 1st, which accumulated 60 points, Event A would be one month into it's decay when the points from Event B are added to the total Lead Score Value. However, this does not reset the lead score decay on Event A, it will continue to decay for the set time period, with Event B's decay beginning on February 1st.