Inbound Marketing Assessment: Setting Lead Generation Goals
Inbound Marketing Assessments Often Reveal Issues in Lead Generation
The beauty of inbound marketing rests in the ability to measure your efforts and adjust your approach throughout the process. As a business owner, you have a deep understanding of the importance of ?numbers in all of your marketing efforts. Inbound marketing assessment allows you to measure, track, and through analytics, truly get into the numbers to measure your results.
One of the most valuable data sets you can access revolves around your lead generation efforts.? For example,? using an inbound marketing assessment and analytics you can measure what your marketing team is?generating?with regards to new leads. You can then determine your lead to customer conversion rate and use these numbers to accurately project sales into the future.
Using the closed-loop method, you can even begin to determine?the?revenue generated from individual marketing efforts. This means you can determine what works -?which channels and messages are producing, and more importantly, what doesn?t.
That?s a lot of valuable data. So, how can you take those numbers and use them to set?lead generation goals for your marketing and sales teams?? Let?s examine 4 simple steps you can use to set realistic lead generation goals for your team.
STEP 1: Determine Your Primary Measure – The first step in lead generation goal setting is to determine what you want to measure.? Do you measure the quantity of leads generated, or do you examine the quality leads? Remember, you have to set ?measurable? goals in order to meet them. Quantity is an easy measure to track. Quality can be a bit trickier. First, you’ll need to determine what constitutes a marketing qualified lead. MQLs are leads that are ready to pass to sales and close. These are your revenue generating customers.
STEP 2:? Set Your Lead Goals Based on Your Broader Business Goals ? Time to think big picture here. You need to determine what each MQL lead is worth in terms of sales. For example, if your monthly sales are $10,000 and each MQL closed is worth $500, then your currently closing 20 MQLs per month. If your goal is to increase revenues by 30% ($3000) per month, you will need to generate an additional 6 MQLs per month.
STEP 3: Communicate and Motivate ? Once you?ve determined set your goals the next step is to communicate it to your sales and marketing teams and figure out the best way to motivate them to achieve?it. Explain your reason for setting this goal and the benefits to the company for?reaching it. Consider leveraging your existing leads database as a way to get started. Encourage your teams to experiment and think outside the box. Just make sure to continue to track lead volume, conversion rates and close rates to see if your efforts are truly effective.
STEP 4: Track Progress and Measure Against Your Goal ? Be diligent when tracking and measuring progress.? By setting daily and weekly goals (16 sales per month = 1 sale approx every 2 days) and tracking daily you can react quickly when goals are not met. Make your team aware of their progress at your weekly sales meeting to keep them on track and motivated.
If you?re not sure where to start or would like to know how you?re current inbound program measures up?We offer a free Inbound Marketing Assessment that can help you to better understand your current inbound efforts. We?ll grade your website and offer insight in how to improve you efforts?to help you reach your goals.
Marketing Matters Inbound?is an inbound marketing firm specializing in online conversions, content?strategy, PPC campaigns and traditional media placement. Our experience in?B2B digital?marketing?and?traditional media?allows us to deliver results through a strategic media mix. We believe in?aligning and merging marketing and sales/operations for optimal return on your marketing investment.
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