There are many parts to a lead generation strategy, but you should always revisit old campaigns and evaluate past performance to find room for improvement. These past metrics and analytics can point you in the right direction when creating a new campaign, but you need to make sure you are looking at the right numbers.
- Total leads generated is a good metric for an overall snapshot of a campaign. You can see the big picture success of the campaign before diving into the smaller points.
- Where are your leads coming from? Evaluating leads per channel helps you to figure out where to invest your time in the future. If your Facebook content has high engagement but your Twitter posts don’t, it may be best to invest more time on Facebook than Twitter until you get data suggesting otherwise.
- Spend per channel is another important metric, both for your goals and your wallet. This measurement branches off of leads per channel. This will help you to calculate the cost per lead for each channel as well. These measurements can show where your leads cost the most to acquire.
- The conversion rate is a ratio that can measure strangers to leads or leads to Marketing Qualified Leads. Both of these ratios will help to see what step in the funnel you may have lost people? A lot of people may have clicked the link in your blog to go to a landing page, but once they got to the landing page they didn’t complete the form. That signals that there is something missing from your landing page that’s causing a user to not fill out the form.
- Identifying Marketing Qualified Leads (MQLs) is a number your sales team wants to see. MQLs are separate from other leads because MQLs are ready to interact with sales or to make a purchase whereas other leads may be earlier in the lifecycle stage.
Once you have all of these metrics, compare them to the goals you set for those campaigns. Did they underperform? Did they deliver more than you thought? Realistic goals are much easier to form when you’re creating them based on past data, and the metrics listed above will help you to do that.