You may do a lot of things to create an effective lead generation
strategy, but have you ever measured that the lead generation strategy working
for you or not? Lead generation cannot be just measured by the quantity of
leads, but it has to be measured by the quality of leads. If you are having a
manual approach of lead generation, then you have to spend more time in
generating them as they need to keep up the business. Manual lead generation is
not the type of strategy that should be used to keep up with the competition. The
best part is to use the automated lead generation and then tracking or
measuring them to see how they are working for you. There can be different
stages of lead generation measurement.
§ Basic Measurement
– The team is there to track down the lead generation results. These results
can be measured in simple excel sheets by using simple parameters. The
parameters used can be the total numbers of leads, the quality of leads, number
of sales or conversion, sales through different channels like the email
marketing, webinars or website links. Tracking the dead leads and leads that
need more about nurturing needs special attention.
§ The
advanced stage – The advanced stage of measuring involves a constant
communication between the two departments of sales and marketing. The constant
follow up, reporting and measuring the entire steps is done. This gives an idea
about the entire process from the lead to the sale. Though the process is a bit
complex to measure, but it can be achieved. It can keep a tab of the lead velocity, cost
per lead, leads that are close to sale and cost per sale details. The leads
that are generated from different channels should be monitored as they can be
the most efficient channels. The company can allocate more budget for that
particular source and it can be the most effective and beneficial channel.
§ Concentrate
on the basics – The basics need to be strong as they reflect on the statement. You
can also come across the 80/20 rule where some of loyal customers that make the
20% of the total business. They are the best clients for your business and next
time you should just focus on them as they are most important for you.
§ Proactively
communicate with your leads – Communicate with your follow up clients without
using the sales pitch. Communicate with them, not with the intention of selling
something. This continuous follow up can be very effective.
§ Referral
marketing can be very useful for the steady flow of leads. These referrals generated
clients are very effective in terms of cost and are loyal to the company. They
prove to be more profitable, buy quicker, indulge in buying large numbers and negotiate
less.
These are simple steps that can show that what lead generation system
is doing for you. Lead generation is indeed the fastest way to build business,
but implementing new and perfect methods can make it more profitable.
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