The Ultimate Guide To Lead Generation Using Social Media Platform

  • CHAPTER 1
  • chapter 2
  • chapter 3

CHAPTER 3.1 : 6 Important Lead Generation Metrics

CHAPTER 3.2:  What, Why and How To Measure Your Lead Performance

CHAPTER 3.1 : 6 Important Lead Generation Metrics

Effective lead generation strategy is data based. Information is key to making right decisions about how to generate leads. Information come by understanding the metrics that most impact your business. Such understanding only comes by tracking and analyzing the right metrics. But how do you analyse without having a grasp on the different type of metric for lead generation?

Let’s take a look at some six important metrics you need to know.

1. Performance Metrics

Performance is a key to evaluating how well your lead generation process is doing. Metrics that fall under this category provides hard data to support evaluations. They include:

Conversion rate: Conversion rate calculate the rate at which your visitors took the required action as specified on your landing page through your call to action message. To get the raw figure, you divide the number of leads by the number of conversion.

Conversion Time: Conversion time is the time taken to convert a lead to an actual customer who pays for your products and services. Since most qualified leads aren’t usually ready to make immediate purchase, the time taken to nurture and walk them through to the sales funnel until they eventually make purchase is calculated. It helps to determine the response rate of each lead.

2. Marketing Metrics

Marketing metrics measure the effectiveness of a lead generation campaign and marketing efforts across all channel. An example is return on investment.

Return on Investment (ROI): Return on Investment measures the monetary returns accrue from money spent on lead generation campaign. The total revenue generated in expressed in monetary terms divided by the campaign cost give the return on investment.

3. Cost Metrics

Cost per Acquisition: Cost per acquisition is used to determine the average cost of getting a visitor to perform the action specified on the landing page. It is calculated by dividing the cost of acquiring more customers by the number of customers acquired in a period of time.

4. Sales Metrics

Sales Qualified Leads (SQLS): These are leads/potential buyers that have been scored as qualified leads, ready to make purchase. They have been sifted from other invaluable ones because of their online behavioral pattern like frequent return to your websites or blog to read up articles or download white papers. Such leads have been vetted and deemed ready for sales. This metric is very important to the continuity of a business because it deals with sales.

Closing Rate: Closing rate is the percentage of sales leads that are converted to actual sales. This is important to because if a lead isn’t closed, there is no sale.

5. Channel Metrics

Paid versus Organic Lead percentage: This metric measures the percentage of leads generated organically against leads bought for. The importance of this metric cannot be over emphasized because the type of lead acquire by an organization affects the sales, return on investment, and the overall performance of a lead generation process. Paid leads are not to effective when it comes to sales because they are not familiar with your business not interested in what you have to offer. Most paid leads get lost on the journey through the sales funnel. Organic leads are the best leads for your business. If your metric shows you that your paid leads is higher than your organic, leads, you may need to act fast.

6. Content Metrics

Landing Page New Contact: The metric helps to differentiate between old and new leads who keep carrying out the desired action. It also speaks of how well you contact is able to attract new leads. If all you have are the old leads coming back, then, your content isn’t that effective. You need new leads while retaining the old ones.

CHAPTER 3.2: What, Why and How To Measure Your Lead Performance

Lead performance is a term that describes the progress of a lead through/down the sales funnel. It captures how many generated leads mage it down to the funnel.

Lead performance is important in evaluating the effectiveness of the lead generation process. Each unique lead can be track as he/she journey down the sales funnel. It makes it possible to detect where such leads drop off and then develop strategy to re-capture.

Leads performances are tracked and recorded in lead performance reports. The report is useful for understanding the value of marketing activities over a period of time.

How is this measured?

You need to first gather data about how your lead funnel operates. Usually, a simple operation requires that a lead pass through stages like marketing- qualified leads stage before proceeding to the next stage. Having determine the stages in your sales funnel, you can then begin calculating as specified below.

You can determine this by calculating the total number of leads in each stage divided by the number in the stage before it to get your conversion rate from stage to stage. Then divide the number in that stage with the total of all stages above it.

The final number you will need to calculate is your win rate from each stage. It is done by dividing the number of leads in that stage by the number of closed deals from this population of leads.

Lead generation isn’t actually about interrupting you target audience and bombarding them with irrelevant things. It actually begins with attracting them to your organisation and offerings through different effective means as discussed above. It is when they are attracted and they show interest by clicking pay per click ads or content links as the case may be that you can request that they fill contact form or take desired actions. That is when they become leads. So, create contents, optimize them for search engines and share it on social media. Engage your prospects with landing pages, calls to action, personalized email and a personalized website where possible. That is the key to generating leads.

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