How do you measure success?
Be it personal or professional, answering this question isn’t easy. When it comes to digital B2B marketing, the process is rather tricky. (But by no means impossible.)
Just like baking the perfect cake, measuring whether your marketing efforts are yielding the right amount and quality of leads, also requires the right ingredients. Basing this on guesswork however, leaves you open to producing a flop.
In this blog, I outline the six crucial considerations (or rather ingredients) to help you determine whether your B2B lead generation efforts are delivering the desired results.
1. Set clear lead goals for your marketing and sales team
I have said often enough that there needs to be an understanding between sales and marketing on what your lead goals are. The more effectively you close the loop between the two, the easier it is to manage leads and subsequently measure the effectiveness of your campaigns.
Information gathered from both sales and marketing gives you a holistic view of how a lead is performing from first contact to closing. Marketing Platforms like Marketo can enable you to easily set lead goals on your marketing platform, giving you the ability to set up your own customised goals and track monthly progress of each campaign.
2. Track the source of your leads
By knowing which channels are producing the most and highest quality leads, you can optimise your campaigns accordingly, refining how you target leads.
Further narrowing it down to different target groups – or personas – gives you a definitive overview of how they consume your messaging.
3. Segment your leads according to their quality and funnel stage
There’s nothing more challenging to the analysis process than a tangled batch of leads. Sifting through leads is a tedious and time-consuming process.
Again, automation is the answer to your lead management woes. By creating groups and segmenting your leads according to their score and their stage in the buyer journey, you take the sting out of having to do this after the fact.
4. Know how and why leads are converting
Knowing which of your campaigns and messaging channels are converting the most leads provides you with invaluable data to help further improve your B2B lead generation efforts.
Evaluate and document the actions taken by a lead at each stage of the sales funnel to help continually improve your marketing strategy.
5. Determine what each lead is worth
It’s crucial for you to ascertain exactly what each lead is worth, and how much you’re spending on them to convert.
Using both historical and current data can assist you in determining how you can possibly maximise your return on investment in the lead management process.
6. A solid strategy is the cornerstone of lead generation
The success of all your B2B lead generation efforts rests on a strong fundamental strategy.
This strategy needs to clearly outline your goals and analyse target personas, your messaging media channels – basically every single aspect needs to guide a lead from first contact to conversion. It’s important to remember that this strategy – although the cornerstone of lead generation – is organic. You will constantly need to update it as new data pertaining to your leads come to light.
Here at Storm, we know that keeping track of your leads requires a lot of time and resources and we’d like to help make this process a little easier.
Download our Lead Generation Tool Kit to help you achieve your lead goals.