The sheer ferocity of present-day competition has made analytics a must for every business – from small to multinational. Simply put; you cannot afford to glance over-optimizing your lead-generation metrics. By having the relevant key performance indicators in an easy-to-read dashboard right in front of you, you can ensure that you’re getting the best bang for your marketing buck.
Two Handfuls of Performance Metrics for Lead Generation
- The Click-Through Rate or CTR. This metric, essentially, helps you determine the effectiveness of all call-to-actions on your landing page. Knowing the value helps you optimize the probability that traffic follows through.
- The Conversion Rate. This tells you how many people, out of all that have received your information, complete the desired action? This isn’t always a purchase – it could be simply adding themselves to your email subscription list.
- Time to Conversion. Now you’re getting down to elite metrics; if you can shorten this value, you get a leg up on the competition in a world where everyone is competing for each other’s time. This points to the efficiency of the CTR and the conversion rate.
- Return on Investment. For obvious reasons, you want to minimize what you spend to get a new customer, since lead generation costs resources.
- CPC or Cost Per Click. This is the seminal lead generation metric for ad-buyers. How much does it cost you when a prospective client clicks on an ad?
- Time on Page. This lead generation metric has everything to do with how compelling your content is and how well your webpage is designed. The more time people spend on time, the higher the quality of the lead, ultimately.
- Cost Per Lead. This is self-explanatory as a metric; how much does it cost you to actually acquire a lead after they’ve perused your page? This can encompass traffic acquisition costs, download costs, and subscription fees, etc.
- Lead Generation Rate. You can break this down as you wish; generally, it’s done by funnel or channel – such as social media, SEO, referral and paid traffic methods.
- Lastly, Month-to-Month Channel Goals help you optimize all of the above avenues. You can even distill this to a number or ratio and try to improve it each quarter.