Most marketers prefer to be doers when it comes to lead generation. This means they love coming up with new ideas and executing them.
It is not everyone’s favorite job, as it takes a lot of research and can be tedious.
Many marketers fear the reporting process of their lead generation strategies because they need to figure out where to start.
Many businesses need help to measure the effectiveness of their marketing strategies. Duke University’s report found that 69% of CMOs could not prove the marketing impact in quantitative measures, while only half could establish a qualitative sense.
This is unacceptable for a business trying to increase leads. According to Gartner’s annual CEO and Senior Business Executive Survey, growth topped the list for CEO priorities in 2019 and 2020.
Lead generation is the key to revenue growth. Fintech Ventures CEO Salvatore Minetti stated that companies of all sizes are concerned about the lack of predictability in sales and the difficulty of converting leads into customers, whether they be consumers or businesses.
Marketers need to understand how effective their strategies are to optimize and improve them. Let’s simplify the measurement process.
Find the KPIs
To make accurate measurements, you must understand what you are measuring and why they matter to your business. Also, how they affect your bottom line.
A metric is a number you can track and measure to assess the success of a marketing strategy. A KPI, on the other hand, is a metric that indicates progress toward a business goal.
The most critical metrics in lead generation are apparent. For example, how many leads are being funneled? But, a rise in charges does not necessarily indicate that your lead generation strategies have been successful.
You are only increasing irrelevant leads and targeting the wrong audience if only a few percent of your tips convert.
To find the most important KPIs in B2B lead generation, it is necessary to dig deeper. You need first to identify metrics that indicate success and signs of progress. While click-through rates (CTR) are a great starting point for digital strategy, it is important to go one step further.