It can be difficult to gauge how well your company is doing in the lead generation department. You need to know what to look for in order to figure out if your company is doing the right things or not. Do you know what to be on the lookout for? Just in case your answer was no, here are a few things to watch for in order to determine if you are doing everything you can in terms of generating the right leads.
Lead Generation is Part of Business…
1. Know What You’re Looking At
The first way to figure out if your company’s lead generation is working, is to make sure that the measurements you do take make sense to you. If you are looking at a bunch of numbers that mean nothing to you, so will the results. You need to know how your business compares to others in your same market, so that you know what businesses to compare yourself to. When you find a measurement that doesn’t make sense, ask for help or research it. The best way to make sure you are looking for the right bits and pieces of information is to do as much research as you can about where you stand as a company.
2. Understand Your Conversion Rates
Your conversion rates are likely the most important stat you need to keep track of. You need to know how many of the people that come to your website are converted into buyers. The higher your conversion rates are, the better your lead generation tactics are. The goal is to have every single person that comes to your website converted into a current buyer, and hopefully one that returns again in the future.
3. Look At Your CTRs (Click-Through Rates)
When looking at a specific type of lead generation technique, you want to know how many people are clicking right on through to your website out of the total number of people you were in contact with. For example, if you sent out an email to 100 people, and 35 of them clicked on through to your website, your CTR is 35%. The higher your CTR is, the more leads you are generating with whatever marketing campaign you are looking at. You should look at this rate with every marketing technique you use, and see which has the highest level of interest.
4. Pay Attention to the Time
One big part of quality lead generation that is often overlooked is how much time your potential customers spend on your website. The longer they spend on the site, the better lead generation you have going. This is because there was something about how you generated that lead that caused the interest of that person, so much so that they stayed to look around instead of just seeing your site and leaving. Part of lead generation is having the right setup on your website for those that come through to find it interesting and important enough to stay.
5. It Always Comes Down to Money
One of the ways to measure a quality lead is also how much that lead cost you to get. Did you have to spend a lot on the type of lead generation tactic you used to get them to become a customer? Or was it a technique that was very inexpensive? Was the only cost your time? If so, then that is one of the best ways to get leads, since you get the paying customer, and don’t have to pay out a large amount in terms of marketing.
6. Identify Only High Quality Leads and Focus On Those
It can take time to go through and figure out which of your leads are the highest in quality, but when you are able to focus on those, your lead generation is going to go up naturally. The most important thing to keep in mind is that the time it takes to figure this out, is well worth it in the end. The highest quality leads are the ones that have the greatest potential to become sales, so focus on how to convert those, and then you will see the boosts in your customers based on getting the people who are most ready to purchase to come to you.
7. Watch the Volume from Each Lead Type
Finally, you should pay attention to the volume of people that come to you based off of the different marketing techniques. If you find that one technique is bringing in a greater volume of people, that is often a good gauge as to where you should focus your lead generation techniques. If your volume is low for higher pay marketing techniques, then you may want to consider losing those techniques for ones that are a bit more financially friendly.
Understanding how your company generates leads, and sticking to the ones that are doing the most for your company, is going to be what you need most when it comes to growing your company through sales. You need to take a look at each type of lead generating technique you use, and see which ones are worth your continued time and effort. When you find ones that are, then you should stick with them and get as many of those leads converted over to customers as possible. When you find ones that are not as helpful, then you should either change them to become better for your company, or move on to better techniques.