Lead Performance Measurement

Using technology such as Google Analytics, web competitive intelligence systems, social media monitoring engines, Customer Relationship Management systems, business intelligence tools and marketing automation tools, marketers can now gain visibility and insights into the behavior and actions of leads across various touch points. These tools help peg leads against internal lead performance metrics. Some widely used lead performance measurement metrics include

  • New leads to pipeline conversion
  • Renewed leads to pipeline conversion
  • Pipeline to revenue conversion
  • Cost per lead – Period by period comparison
  • Return on Marketing Investment – how much pipeline or revenue per marketing dollar spent
  • Quantity of new leads to renewed leads
  • Quantity of leads to opportunities
  • Quantity of leads to customers
  • Quantity of disqualified leads by lead sources
  • Duration to convert

With leads coming in from multiple inbound and outbound marketing sources, it is essential to identify which lead sources should get your repeat business for bringing your company pipeline and new customers. These are some of the common lead sources to monitor and the metrics to look out for to understand their performance. One metric that applies to each lead source is the average deal size to understand the value of customers it can attract.

Lead Source Metrics to track performance of lead source
Website and web traffic

·         Number of impressions – unique and returning visitors

·         Number of landing page conversions by traffic type (enquiries and downloads)

·         Number of search engine optimized keywords

·         Rank of core set of keywords

·         Most popular pages viewed

·         Number of pages viewed

·         Amount of time spent on site

·         Types of traffic – direct, referral (inbound links), organic

·         Bounce rate

·         Average deal size
Email marketing

·         Open rate (how many recipients on your distribution list have browsed the content)

·         Click through rate (number of recipients who have used the embedded links to get to your landing page)

·         Forwarded rate (how many recipients forwarded the email content to another person)

·         Enquiries submitted or downloads

·         New subscription rates

·         Bounced rates

·         Unsubscribed rate

·         Average deal size
Paid Search

·         Converting keywords

·         Cost of each keyword

·         CPC (Cost per click)

·         Share of voice (the percentage of clicks you get for your set of keywords)

·         New Keywords (competitive intelligence on keywords purchased by competitors)

·         Average deal size
Events

·         Registration

·         Number of qualified attendees

·         Number of feedback forms return

·         Number of enquiries and contact me request

·         Walk-ins

·         Attrition rate

·         Average deal size
Social Media

·         Number of in-mail or messages on company need

·         Number of followers or Likes or Connect requests

·         Shares or re-tweet

·         Average deal size

More and more companies have adopted CRM and marketing automation tools to aggregate the data collected across different lead sources and automate the lead nurturing process. Using business intelligence tools, trends and patterns of lead sources and lead flow is easily made available. These tools can quickly present data, graphs and reports on lead conversion rates, lead status, follow up progress, pipeline generated, revenue generated, return on marketing investment, time to convert and cost per lead, customizing views as desired. Investing in suitable tools is essential to obtain insights and maximize returns in marketing spends to achieve higher and better lead conversion rates.

[Call for action: ask ConsultMarketing to assess your leads performance and devise actionable strategies to grow sales]