Mission-Critical Lead Generation Metrics You Need To Track
In the following we will be discussing an important topic that is “Mission-Critical Lead Generation Metrics You Need To Track” and will discuss it in detail within the article. Once you’ve developed a clear understanding of the fundamental facets of your organization, you will find it easier to select the right metrics to monitor your efforts in lead generation. Now, let’s take a look at some of the most critical lead generation metrics that you should be tracking. These vital barometers are worth keeping an eye on, regardless of the size or structure of your business. Regarding this web designing company in Delhi are do their job so well.
Performance metrics are exactly what they sound like – you can analyze them to gauge the performance of your campaign. With these insights, you can assess the performance of any particular creative asset, paid ad, offer or landing page, and determine whether it is having the desired impact.
Click-Through Rate (CTR)
CTR measures the click performance of any Call To Action (CTA), in that it shows you the percentage of viewers that click your CTA on any given ad, link, email or landing page, etc. Typically, your lead generation campaign will have several different CTAs. Therefore, for each element in your campaign, you should:
- Identify the CTA
- Measure the click-through rate
Imagine that you have a campaign where you buy traffic through Google Ads and send it to a landing page that has a download offer for an e-book. Let’s say Mary from Florida enters her contact details on the landing page. After doing this, she receives an email with a link to verify her email address. Only once Mary follows through by verifying her email, can you call her a “lead.”
In this campaign, you have three separate CTRs to track:
- CTR for the PPC ad
- CTR for the landing page
- CTR for the verification email
CTR is a crucial metric in lead generation, especially in paid advertising. As such, you must keep a close watch on it.
In any campaign, the conversion rate is easily one of the most important metrics to track. What is the conversion rate? It is the percentage of your leads that perform a specific action on an ad, email or landing page. This “specific action” is something that you define when setting up your campaign. Some examples of a conversion include when a user:
- Completes an email newsletter subscription form on your website
- Clicks a link or button in an email
- Downloads an e-book
- Makes a purchase
In essence, the conversion is the end goal of many campaigns. That being said, it doesn’t always have to be a sale – it can be any goal you have set.
Time to Conversion
Ever wondered how long it takes for a visitor to become a verified lead? Well, if you track the time-to-conversion metric, you’ll soon have your answer. At every stage of your funnel, it’s important to track the total time to conversion so you can get a clear picture of the length of your sales cycle.
Return on Investment (ROI)
Return on investment is arguably the most crucial metric in any campaign. Yes, we know that we’ve already stressed the importance of some lead generation metrics here, but ROI is different. You might even say that ROI is the single most important metric in your entire business. (Yeah, we think it’s pretty darn special.)
Cost metrics are a top priority for every business. Even the best marketers can’t ignore their costs, regardless of how big a budget they have at their disposal. When you pay attention to your cost metrics, you get a better understanding of the expense associated with driving traffic and lead generation.In HubSpot’s State of Inbound Report for 2019, 63% of marketers listed “generating traffic and leads” as the top marketing challenge their company faces. Coming to grips with cost metrics is a huge part of that challenge. Here are three key cost metrics you should be on top of in any lead generation campaign:
Cost per Click (CPC)
Are you using paid advertising to drive traffic? You probably are, as PPC ads can help you increase brand awareness by 80%. When you use paid advertising, measuring the cost per click (CPC) metric is a no-brainer. CPC is the cost that advertisers must pay for a single click from any user who views (and clicks) their ad. In the screenshot below from Facebook, you can click the “Performance and Clicks” section in the ad manager to view your CPC. By keeping tabs on the CPC of your paid ads – and your overall campaign – you can factor in the costs of acquiring traffic. Getting a ton of new visitors from a new ad may sound good, but if your CPC is soaring through the roof, all those visitors may be an expense that you could do without.
Time on Page
You may have heard that content is king. It has been said once or twice. Considering that content marketing is the foundation of many businesses today, it’s hardly surprising to learn that your content plays a significant role in lead generation.