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Measuring Lead Quality

One of the many challenges that a business encounters is determining who it’s potential clients are. The other start-up concerns are capital, business location, supplies, and manpower and are all but simple concerns compared to the difficulty of finding people who will be willing to buy the products that the business offers. This is because many of the other business strategies are only better identified if the business owners know who their target market is.

Generating leads online is the process of communicating with and collecting potential customers. The main goal of this particular process is to give you an idea as to who your target market is. You will learn the segments of the entire market from which most of the possible clients come from. Also, you will be given data on what these people want in a product and what their needs are. In a nutshell, the lead generation campaign that you will launch for your business will help you acquire a list of potential clients as well as maintain connections with them.

Launching a lead generation campaign will help you acquire a list of potential clients.

What Is Lead Quality?

Lead quality is a factor that allows you to identify how likely your prospects are to become your paying customers. The higher the quality of your leads, the more likely they become your customers.

However, below are ways to determine your lead quality.

Content marketing– If you use content marketing – a tactic that can work wonders for any organization looking to generate leads – then being able to track and measure success is really important.

Proving content marketing ROI, and indeed the ROI of any type of marketing, is frequently cited as a key challenge by marketers. It’s an important issue and one which can have implications for a department in all sorts of ways, including future budget allocation. Anything that can help when it comes to measuring and demonstrating progress, such as KPIs, can be very helpful.

Here’s a rundown of some of the most popular KPIs associated with the different elements of content marketing:

Lead generation, Total number of leads, Number of leads per channel and Number of leads per asset.

Content marketing is a tactic that can help you track and measure your success.

Company website– Another area to track is the performance of your website. When it comes to lead generation, a well-designed and thought through website can quickly become your best friend. It should work as both an effective lead generation tool and a strong branding asset.

The type of basic website KPIs you may want to look at would include: Visitor numbers, Duration of stay, Number of pages, Bounce rate etc.

Sales Team Response Time In general, B2B leads receive staggeringly slow responses from sales teams. In fact, a lead response study of 2,241 US companies found that the average first response time of B2B companies to their leads was 42 hours!

This is a problem because the quality of a lead degrades over time. This research found “the odds of making a successful contact with a lead are 100 times greater when a contact attempt occurs within 5 minutes, compared to 30 minutes after the lead was submitted.

So the question is: How fast does your sales team respond to leads? And how fast does your competition’s sales team respond to leads? Once you’ve measured this KPI, you can then go about improving it.

Social Media Reach and Engagement Your social media strategy is a huge part of your inbound marketing efforts because it allows you to distribute your content and interact with your current and potential customers. But you already knew that, didn’t you?

A good way to judge this KPI is to track your growth (think followers on Twitter and Likes on Facebook). Both social media sites have built in tracking and analysis that makes it incredibly easy to get this information when needed. You can also track engagement through metrics that determine lead conversions, customer conversions and percentage of web traffic associated with your social media efforts. And remember, not all social media will work for your business, so be sure to track the ones that really matter to you and your customer.

Email Marketing Performance Your email marketing strategy is essentially your lifeline to your customer, aside from social media of course. As such, every email marketing campaign should be judged, analyzed, judged again and further analyzed.

Analyzing your email marketing strategy is multifaceted, however, and includes its own set of KPIs that should be dissected each on their own merits. Examples include: Delivery Rate, Unsubscribe Rate, Open Rate, and Click through Rate etc.

Track engagement through metrics that determine lead conversions, customer conversions and percentage of web traffic associated with your social media efforts.

 

Click Through Rates (CTR) The CTR is the measure of how many targeted audiences clicked on the links on your lead generation channel in proportion to the number of recipients of that particular campaign (ex: lead generation email). What the CTR will tell you is how relevant your lead generation campaign in to a particular lead segment or category.

A low CTR will indicate that you are marketing the wrong kind of content to a particular segment, while high click through rates will indicate a good response from your audience. These insights will tell you how you can improve on your campaign so you can generate even more favorable results that will prove the success of your campaign.

Unlike traditional marketing, Ultim Marketing focuses in developing digital campaigns for your business success, also allowing the tracking and measuring of each strategy. Visit our website or call us at (770) 209-2802.

 

References:

https://blog.hubspot.com/blog/tabid/6307/bid/34179/15-metrics-every-marketing-manager-should-be-tracking.aspx

https://vtldesign.com/digital-marketing/16-marketing-kpis-to-measure/

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