Yes, how many leads you have captured is the most important metric. But then that alone shouldn’t have all your attention. There are many metrics that matter a lot in a sales cycle. For instance, if your website isn’t getting a sufficient number of visitors, of course, the number of leads generated would be less. So, in this case, website visitors is a metric you should care about to adequately understand how your sales funnel is working and how you can optimize it. Here are five important lead generation key performance indicators (KPIs) you should start following in 2022:
The number of visitors to your site is one of the most important metrics that reflect the success of your lead generation strategy. You can measure this metric in a variety of ways: by the number of visitors per month, week, day, or even hour. It all depends on how often you update your content and what kind of updates do you make?
Based on the type of your website, this metric can also be measured by the number of visitors that are new or returning, their gender and age group, their geographical location (country and city), their interests and keywords they entered while visiting (Google Analytics can help with this) and many other parameters.
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Cost per lead is a marketing metric that tells you the amount of money you spend on generating a qualified lead.
The cost per lead metric is a helpful method of evaluating the efficiency of your lead generation campaigns. The CPL is an important marketing metric that you should be tracking to gauge how effective your landing pages are and whether your marketing efforts are resulting in tangible results.
Lead conversion rate is the percentage of visitors who visit your website and take action. For example, if 100 visitors visit your site and 10 visitors contact you or fill out a form on your site, your conversion rate is 10%.
A high lead conversion rate can help you decide whether you need to tweak your landing pages or contact forms or even change strategies completely. On the other hand, a low lead conversion rate may mean you aren’t targeting the correct audience with your marketing efforts.
Of course, to measure and quantify your lead generation success (or the lack of it thereof), there are many other relevant KPIs throughout the sales cycle that you must keep an eye on. It includes social media engagement, customer acquisition cost, lead value, return on ad spend, customer lifetime value, capture vs. conversion rate, and more.
Remember, a successful lead generation strategy is all about tracking the right metrics and making informed decisions around optimization and improvement.
If you need help with lead generation, consider getting help from experts. Find out some of the best B2B lead generation companies and tap on their support to accelerate your marketing efforts.
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