Lead scoring is a process that assigns a numeric score to marketing leads to differentiate prospective from non-prospective leads. The document outlines a lead scoring method from LeadSimplified that scores leads based on their budget, necessity, time frame, and decision-making authority on a scale of 0.25 to 4 points. By scoring leads, companies can prioritize targeting the most qualified prospects, improve conversion rates, speed up sales cycles, and ultimately convert more clients.