What is B2B Lead Generation?
Business-to-business (B2B) lead generation is the process of creating leads, capturing them and then converting them into sales. B2B lead analytics and reporting are the means whereby marketing teams can measure key performance indicators (KPIs) of the lead generation process, demonstrate the impact of their marketing efforts on lead generation and optimize future lead management.
Converting web leads into sales can be a long, arduous process for B2B organizations. However, online marketing efforts offer an unprecedented opportunity for these organizations to connect with vast audiences of prospective clients.
The challenge is attracting qualified sales prospects to websites or landing pages, and from there to entice them into the lead funnel (also known as the sales funnel or the sales pipeline). For this reason, Sprint Marketing has found that analytics and reporting play a vital role in the lead generation effort. To further clarify how these two approaches work together:
- What are B2B Analytics? The process of identifying key performance metrics and tracking them throughout the lead funnel.
- What is B2B Reporting? The method of presenting clear, actionable data (usually as a marketing dashboard or scorecard) that establishes marketing impact on ROI (return on investment) in such a way that sales and marketing directors can easily reach decisions on future marketing actions.
How does B2B Lead Analytics and Reporting Increase My Web Leads?
Only qualified web leads provide value to B2B organizations. Marketing analytics and a lead generation report enables marketing and sales teams to determine what qualified B2B sales leads look like and what marketing outreach is needed to reach them.
Unfortunately, there is no “set it and forget it” solution to lead generation. The market is constantly changing and lead generation strategies must evolve with it. Constant lead evaluation is necessary to refine the process and attract increasingly better-quality leads.
This is where analysis and reporting proves so critical. Both contribute to a comprehensive marketing intelligence approach to leads which enables sales pipeline optimization. Marketing analytics supplies the necessary metrics and presents it in reports that render the data actionable.
How do I Set up My Analytics?
Effective analytics aren’t limited to technological solutions. Online tools can provide access to a wealth of raw data, but only human analysis and custom reporting can transform that staggering amount of information into useful recommendations.
1. Analytics tools. A wide range of online tools are available to track B2B leads through their various stages of engagement and development: Google Analytics, customer relationship management (CRM) software (such as the version available at Salesforce.com), marketing automation programs and sales management software.
2. The human element. Lead engagement can’t be left to a machine. Sales lead software can’t decide whether a lead is ready for a sales appointment or whether more lead nurturing is needed. That requires human analysis and decision-making, and the same is true when it comes to analyzing and sorting data.
3. Testing. It isn’t enough to merely analyze metrics, create B2B reports, and then implement the report’s recommendations. The process should be repeated often in order to discover other opportunities for improvement and to gauge whether past improvements are having the desired effect.
Common B2B Lead Key Performance Indicators
A lead report can include an array of KPIs. Marketing intelligence teams will often include recommendations based off these metrics, but the sales lead report will always contain the applicable data so the marketing or sales director can reach their own conclusions.
When preparing such a report, consider using these performance metrics and data:
- Sales Forecast
- Number of Sales
- Marketing Qualified Leads (MQLs)
- Sales Accepted Leads (SALs)
- Sales Qualified Leads (SQLs)
- Marketing activities and the numbers they produce
- Velocity of leads through various lead stages
- Main reasons leads drop out of the lead funnel
- Time it takes to move from a lead to a sale
- Website performance: visitors, lead conversions, bounce rate
Get Your Own Free Leads Analysis Today to See How Sprint Marketing Can Provide Your Team with the Best B2B Lead Analytics and Reporting
Sprint Marketing’s aim is to increase our clients’ web leads by optimizing their marketing and sales channel. We accomplish this by providing the latest B2B lead analytics and reporting, and by determining – and increasing – your marketing qualified leads, sales accepted leads and sales qualified leads. Contact us today for your free leads analysis.