Improve Lead Generation ROI
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Still think a plump lead pipeline translates to profits? Align, Measure, Track and Communicate Lead Generation Objectives. Opt for Inbound Marketing over Outbound Marketing

Still think a plump lead pipeline translates to profits? Align, Measure, Track and Communicate Lead Generation Objectives. Opt for Inbound Marketing over Outbound Marketing

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Improve Lead Generation ROI Document Transcript

  • 1. “ Still Think a “ Plump Lead Pipeline Translates to Profits?! Align, Measure, Track and Communicate Lead Generation Objectives Improve Lead Generation ROI Opt for Inbound Marketing over Outbound Marketing © 2013 InfoCheckpoint. All rights reserved.
  • 2. Contents Objectives of Lead Generation 5 Ways to Improve Lead Generation ROI Inbound Marketing vs. Outbound Marketing ConclusionLead Generation Objectives l Do you know your lead to customer conversion ratio? l Can you predict future sales through lead generation? l Do you measure, track and report lead generation initiatives?If your answer is no, it is essential you understand the objectives of your lead generation program.Lead generation is not necessarily only about pumping your pipeline. The underlying objective ofobtaining leads should be about conversion to customers. Let us take a look at the four main aspectsrequired to ensure your leads convert to sales. Communicate Track Measure Align © 2013 InfoCheckpoint. All rights reserved.
  • 3. AlignBefore setting lead generation goals, it is important to understand the overall marketing andorganizational objectives. Only by aligning your lead generation objectives with marketing goals willyour program become successful. Consider this example, If your organizational / marketing goal is to achieve a target revenue of $10,000 You need to Then, every lead generate 200 more If the average price you generate is leads to achieve the of your product / valued at $50 revenue target of services is $1,000 (average price x $10,000 (Revenue average close rate) target / value of lead) If your average lead close rate is 5%MeasureWith the sole objective of generating revenues, measuring quantity as well as quality of leads isimportant. The traditional approach of measurement is by quantifying lead volume on a monthly orquarterly basis. In addition to this, measuring quality of lead and marketing effectiveness is alsoimperative. A balanced approach of generating new leads as well as nurturing existing ones is a goodway to consistently improve revenues and ROI. Let us look at an example, l Assume your lead volume is 10,000 leads per month l Reduce this goal to 5,000 leads per month (what!) l Add an additional ‘Quality Lead’ goal of 500 per month (considering how difficult they are to capture) l This will eventually translate to your regular lead to customer conversion rate of 1% and quality lead conversion rate of 10%In this way not only are your revenue targets achieved, you maintain marketing efficiency as © 2013 InfoCheckpoint. All rights reserved.
  • 4. TrackWithout tracking, it will be impossible to know the performance of campaigns and ways to improvethem. Only by tracking results will it be possible to understand the impact campaigns have ongenerating revenues and their alignment with overall goals set. Data analytical tools provide manymeasuring, testing and tracking metrics. This helps in identifying the most effective channel, whattype of emails work and insights into what clicks (such as subject lines and call to actions).CommunicateWhile defining objectives, setting goals, measuring and tracking, are important, it is also essentialthat this is communicated to everyone in the organization. With a two way communication betweentop management and the company, it makes it possible to know, individual goals versus companygoals, performance results, benefits of change and scope for improvement.5 Ways to Improve Lead Generation ROIThe essence of lead generation is not only in ‘generating’ leads, it is in converting leads into sales.Generating revenue through leads is a far more successful tactic than increasing lead volume. Someof the ways organizations can improve lead generation ROI are through lead validation, scoring,segmentation, follow-up and elimination of poor performing leads. l Lead Validation – Before leads reach sales teams, it is important to validate them in order to improve quality and avoid increasing cost and time spent. To verify and validate information, you could use third party companies or develop detailed lead forms to identify bad leads and eliminate them. l Lead Scoring – In order to maximize opportunities, prioritizing leads based on various parameters will help in identifying which leads a hot and which are not. Lead scores can be assigned based on internal business objectives and understanding of high value. Some of the parameters, we at Info CheckPoint use to score leads include, based on industry, title, annual revenue, budget, website activity and nurturing scores. l Segmentation – The underlying objective of lead validation and scoring is to identify segments which can be catered to specifically. Depending on the structure of your organization, segmentation can be done based on various aspects such as industry, region, company size, budget, etc. it is important to assess the objective of segmentation, which usually is to get the right lead to right sales rep, who can provide the right solutions to convert them into sales. © 2013 InfoCheckpoint. All rights reserved.
  • 5. l Elimination of Poor Performing Leads – Organizations get uncomfortable with a pipeline that is not plump; however generating lead volume is not necessarily a good thing. Poor performing leads only add to costs and are time consuming to nurture. Quality over quantity maybe a cliché, however it is essential generating ROI. l Quick Follow-up – By scoring, prioritizing and segmenting your leads, you can arrange for a quick follow-up with relevant information, before your competitors get to it. Once a lead is interested, a proactive respond immediately, has proven to be one of the successful ways in converting a lead into a sale. Lead Validation Lead Scoring Quick Follow Up Elimination of Poor Segmentation Performing LeadsInbound Marketing vs. Outbound MarketingWhile outbound marketing is a traditional marketing approach and involves ‘pushing’ messages toprospects, inbound marketing on the other hand is a process through which companies are found byrelevant prospects. © 2013 InfoCheckpoint. All rights reserved.
  • 6. OUTBOUND MARKETING INBOUND MARKETING Direct mail Blogging & Content Creation Telemarketing Social Media Trade Shows Search Engine Optimization (SEO) B2B Lead GenerationAccording to the 2012 HubSpot Study, l $346 is the average cost per lead, for marketers who use outbound l $135 is the average cost per lead, for marketers who use inbound l That’s a 61% reduction in the average cost per lead!What would you prefer? You could do the math! 64% of marketers forward raw leads, who have responded to campaigns directly to sales teams Companies that utilize lead nurturing programs, experience a 45% higher ROI on their lead generation initiatives. 59% of companies have not yet adopted a lead nurturing program Source: - MarketingSherpa 2012 Lead Generation Benchmark Report © 2013 InfoCheckpoint. All rights reserved.
  • 7. ConclusionIn lead generation, sales prospecting and cold calling has faded and inbound marketing is what clicksnow. What inbound marketing provides is prospects that are interested and can be pursued, nurturedand converted more successfully.Generating leads through inbound marketing not only transforms your sales and marketing process, italso reduces the cost per lead. The use of CTAs, landing pages and offers provides higher qualityleads to the sales team.By testing and tweaking the inbound lead generation process, quality of leads can be improved andcost per lead can be reduced.A successfully proven way of generating quality leads is by using CRM integrated marketingautomation platforms. The new Info CheckPoint App on Salesforce is just the tool you can use toaccess high-value leads, prioritize and organize prospects, improve CRM data quality and reduceresearch time. "Lead generation isnt the end goal. Generating revenue is the end goal.” Maximize revenue generated from your marketing initiatives by working closely with your sales team and prospects. © 2013 InfoCheckpoint. All rights reserved.
  • 8. Gain Access to Sales-Ready Leads Today Try the Info CheckPoint App on Salesforce Download this Free App!Info CheckPointInfo CheckPoint is a preferred provider of credible business to business (B2B) information, databasemanagement and marketing solutions. We understand the value of driven, directed and dynamicdatabases and therefore emphasize on high quality data which translate to invaluable information.For us a database is a business intelligence tool.Our advanced search application allows instantaccess and provides segmented data to facilitate targeted communication significant in leveragingbusiness growth. Through this interface you can obtain information that is customized to businessrequirements and enables focus on primary target markets appropriately.At Info CheckPoint we adopt a scientifically based, technology driven and manually validatedcomprehensive data verification process. Utilizing data quality tools, techniques and tactics, weemphasize on maintaining data that is verified, validated, accurate, current, relevant and hygienic.To gain access to power packed databases or for more information, please visit Info CheckPointContact UsPhone: 800-662-2980 Email: support@infocheckpoint.com www.infocheckpoint.com © 2013 InfoCheckpoint. All rights reserved.