4
step lead generation analysis to optimize sales conversion
When you think of the word optimization, you might think of writing
keyword-optimized posts for search engine optimization or running AB
split tests for landing page optimization.
But, in reality, any marketing the process can be optimized from demand generation, account-based marketing and, lead
generation.
I’ll review the basics of
reviewing your demand generation funnel. We’ll provide a few back-to-the-basics
tactics that you can consider as you work on planning your campaigns and
budgets.
Among other things, we’ll take a basic look at conducting a lead generation analysis, to help you optimize your
lead generation process, campaigns, and programs.
It’s really quite simple, but it
requires taking the time to evaluate what really works while building a deeper
rapport with an equally busy team of quota-carrying sales reps.
Step #1: Review
closed deals
The best way to determine what will work
is to look at what has worked.
Begin with an analysis of the deals that have closed.
How did these closed deals enter
the system?
Here are a few pieces of data you
want to record during this review for each channel and specific campaign (and
you likely want to add a few attributes that are unique to your company, as
well):
·
Number of deals won
·
Total revenue
·
Average deal size
·
Buyer persona traits
·
Ideal customer profile fit
Step #2: Review new marketing qualified leads
Now that you know what works take
a look at what you currently have. Break down your pipeline by marketing tactic
used, and determine:
Total
marketing qualified lead volume – How many leads do each channel/tactic
generate?
Sales
Qualified lead volume – How many of these are qualified leads as defined by
your universal lead definition?
Percentage
of sales qualified leads per marketing channel – Determined using the above numbers
Cost per
marketing qualified lead – How much did these leads cost?
A buyer
persona(s) targeted – Which ponds are you fishing in, and whom are you trying
to catch?
Step #3: Ask Sales about MQLs
Check-in with Sales to gather
feedback on the performance of lead generation campaigns. You want to back up
your data with real human experiences. What type of leads works best for Sales
in their opinion?
This human interaction might help
you uncover that although a specific tactic generates leads that close, they
require many more resources from Sales to close the deal, while other leads are
much easier to close.
For example, leads from a content
syndication vendor may take a lot more work from Sales than inbound web leads
that provided all of the necessary info, and they’re much closer to having a
discussion with a rep.
Step #4: Identify opportunities to optimize
Use this
complimentary data to identify the most effective channels and campaigns.
Consider what KPIs to optimize
for, which may include lead volume, qualified lead volume, the percentage of
qualified leads per channel, and the percentage of closed leads per channel.
Now that you know what has closed
and what types of new leads you’re generating, where are there overlaps? Where
do you fall short?
For example, if you’re investing
a lot in a tactic that generates many leads, but they never close, you may want
to shift some of that money to a tactic that produces a lower volume of leads
that are more likely to close.
Intro to Lead Generation: How to
determine if a lead is sales qualified
Not only will this help you
optimize your marketing investments and lead generation capabilities, but it
can also help optimize your relationship with Sales.
When you have specific reasons to
back up why you’re investing budgets in a certain way (which they may or may
not agree with), they are more likely to support your decisions.
If nothing else, the human
interactions of a Sales-Marketing huddle show that you’re actively
seeking input from Sales to help serve them better, and not allocating your
budget and resources in a vacuum.
