In many sectors, like ecommerce or B2B services, companies place their lead generation campaigns in the backbone of their performance marketing strategy. No matter if you consider a lead your product or web registration or a bunch of potential customer details that will need sales work in order to turn them into real revenues. In all cases your leads are the crucial first step in a complex sales conversion funnel.
When running lead generation campaigns, you may have tons of data to analyze its results and take decisions over the channels, landing pages and copies you may be using. Performance marketers normally focus on three basic metrics: CPL and getting it at the lowest rate available, the conversion rate between impressions and leads and, finally, conversion to sale. I don’t deny previous metrics are definitely key but are you really focusing on what matters? Do you measure the quality of your leads?
First, let’s agree on what we are talking about here. When I say quality, it is not about their likeness to turn into sales conversions, it is their probability to be your next Awesome Customer. Let me point out three campaign elements you need to master to be the Lead Quality Boss:
- Attribution and ROI analysis based on Life Time Value instead of transactional sales. Many campaigns point leads into specific promotions and product sales and we measure its channel attribution success and ROI on the specific conversion of that particular promotion. Don’t stay there. Attribute a broader Life Time Value of your new customer, including upcoming transactions and estimate data it if you don’t have a big enough time window to deliver an analysis based on actuals.
- Don’t be shy and get enough data to qualify your leads. When building lead generation landing pages, we are all fearful of asking too many things and get a very low lead conversion rate. Then, we end up having a lead that only has an email address and a name. Go further and find the right balance that lets you have the minimal key information for your sales and marketing departments to have a first approach of quality assessment before any sale comes up.
- Use prediction analysis. You have tools like “Lead Ratings” that use machine learning and AI to give you Lead Quality information and let your sales department focus on those leads that will bring the customer joy you were looking for.
Author: David Jordan, CEO & Cofounder de Jarvis Digital .
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