Lead Generation: Conversion Goals Help Evaluate ROI
As you likely already know, the conversion funnel can be a long and twisty path, one with many places where prospects can get lost or disappear, abandoning their journey before they ever reach their destination (or, more accurately, the destination to which you had hoped to steer them).
You probably have a good idea of what your general conversion numbers are. If they aren’t close to where you want them to be, you may even spend a lot of time obsessing about them. But how much specific insight do you have about the conversion scenario at various points along the journey?
It is critical to know exactly where (and, ideally, why) prospects are dropping out of the conversion funnel. This helps you identify places where you are dropping the ball, which in turn tells you where you must dedicate more efforts and resources so you can improve.
At the same time, knowing the metrics for each specific part of the journey helps you evaluate your return on investment for specific tactics or efforts. You can see which expenses are paying off, and which may not be worth so much of your budget.
Fortunately, tracking performance and ROI of lead generation tactics is easier than ever. Marketing automation and digital tools make it simple to quickly track and evaluate the results for each specific tactic or channel, including pinpointing the sources from which your leads are occurring.
Establishing clear conversion goals for each strategy or tactic when organizing your overall strategy will help you assess the outcomes and see if you’re on track. It can also help you measure and demonstrate the ROI for each component of your lead generation strategy.
KEO Marketing can help with all aspects of your marketing strategy, including tracking and analyzing your lead generation metrics.
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With more than 25 years of hands on marketing strategy and operations experience, Sheila Kloefkorn is dedicated to developing marketing strategies and plans that help clients succeed. Some of the world's largest brands have depended on Sheila for marketing programs that delivered tangible and substantial results. Specialties: B2B marketing, lead generation, lead nurturing, sales strategy, marketing strategy, competitive marketing strategy, social media, search engine optimization (SEO), search engine marketing (SEM), mobile marketing, email marketing, website design, marketing plans.