High-quality inbound marketing campaigns are firmly built upon the foundation of measurable results. Despite the details of your marketing strategy, you should always be able to look to the metrics to determine whether or not it is working and how it can be improved. A lead generation strategy is no exception. If you are currently working on methods to increase lead generation, this blog is for you.
Here, we will introduce 5 metrics you can use to assess your lead generation strategy.
The first step in a successful lead generation campaign is gaining your visitors’ interest. Click-Through Rate (CTR) is the percentage of audience impressions divided by the total clicks. A click-through is counted every time a site visitor clicks on a specific section of your website. This metric is important to assess because it signifies how many people took an interest in your offer. CTR can be measured for almost any promotional offer including emails, paid ads, landing pages.
Generating your site visitors’ interest is not enough to make a difference in your bottom line. For real results, you have to convert site visitors into leads. Conversion Rates indicate whether or not your lead generation strategy is enticing and effective enough for customers to go all the way. For a conversion to be counted, a website visitor must complete the desired action such as filling out a form, downloading an ebook, or completing a purchase. Conversion rates truly show the success of your lead generation tools and strategies.
Time To Conversion
When working to convert a visitor into a lead, timing is everything. Thanks to humans’ short attention span, you only have 8 seconds or less to make magic happen. Time to conversion is a more detailed metric showing the length of time it takes for a site visitor to be converted into a lead. Analyzing this metric is important for your lead generation strategy because it demonstrates how effective your lead generation tool is at capitalizing on your visitors’ interest. Businesses with a low time to conversion also typically experience higher CTRs and conversion rates.
Average Close Rate
The idea of a lead generation campaign is to attract your ideal client to your website and convert them into a lead. In a perfect world, your campaign would be perfectly designed to attract your ideal client, convert them into a lead, and turn them into a paying customer. To assess how well your entire strategy is working, you must assess your average close rate. The average close rate is measured by the number or percentage of leads that become customers. A high average close rate indicates you are attracting the right type of lead with your lead generation tool.
Return on Investment
Finally, as a business, you can’t forget your bottom line. The last but certainly not least metric you should assess is your return on investment. In other words, are you generating enough of the right leads to make up for the money you invested in your lead generation strategy? Return on Investment is the measure of your gains in relation to your investment in a marketing strategy. To learn more about to calculate ROI, download our recent ebook.
Smart Lead Generation Strategies Always Allow Room for Improvement
As with any marketing plan, your lead generation strategy will be the most successful if you seek ways to improve it. Assessing these metrics is a great place to begin to understand which areas of your strategy are lacking and which are your greatest strengths.
For assistance creating an inbound marketing strategy that successfully generates new leads for your business, look no further than the Seventh Scout team. With our expertise and experience, we can have you on your way to a better marketing plan in no time. Talk to us today!