window well in the first place. This might mean increasing the slope of the soil away from the area, or installing buried plastic drainage lines if there’s no room to increase surface slope. Another thing to consider is the drainage capabilities of the window well floor itself. Modern installations usually include a vertical drainage path downwards, connecting to subsurface drainage pipes installed around the base of the basement wall. One thing you can do right now is make sure the floor of the window well is clear of leaves, dirt or anything else that might prevent drainage from the floor. The key to success is keeping the floor of the window well dry. I don’t think the caulking you plan will do much good.