How to use web #LeadsAnalysis to boost sales. #SprintMarketing
As a business, you want to drive more leads to your website and convert more leads into sales. But in order to develop an effective lead generation plan for your business, you need accurate methods of leads analysis and reporting.
Let’s start by answering the question “What is leads analysis?” Web leads analysis is the process of identifying key performance metrics and tracking them throughout the lead funnel. Web leads reporting goes hand-in-hand with leads analysis: It’s the method of presenting clear, actionable data (usually as a marketing dashboard or scorecard) that establishes marketing impact on ROI (return on investment) so that sales and marketing directors can easily reach informed decisions on future marketing action.
60 percent of businesses lack a coherent, centralized data quality strategy.1 This could be affecting your bottom line.
How Lead Analytics and Reporting Increase Web Leads
When it comes to lead generation, only qualified leads provide value to your business. These are leads who have shown real interest. According to Gleanster Research, only 25 percent of leads are legitimate and should advance to the sales team.2 Yet, only 44 percent of companies are using any kind of lead scoring system.3 Marketing analytics and lead generation reports allow marketing and sales teams to determine which of your leads are qualified and how to target those leads who are the most likely to purchase your product or service. Finally, your team can determine what type of marketing outreach is needed to reach those qualified leads.
Better lead management will result in more conversions of prospects into customers and stronger return on investment of your marketing programs. The over-reaching purpose of marketing analytics is straightforward: Leverage data to identify and engage with those leads who are most likely to buy to predict higher lead generation performance.
A marketing team’s work doesn’t end with lead generation. With an ever-changing digital market, lead generation strategies must evolve alongside it. This is why constant lead evaluation is necessary to develop the best lead generation and management strategy for your business. In business, you can’t make decisions based solely on feelings. A well-constructed analytics and reporting plan will allow you to make business decisions based on real data.
How to Set Up Leads Analysis
Effective analysis and reporting relies on two factors: technological solutions and the human brain. Online tools provide a wealth of raw data, but only human analysis can provide insight to transform that information into useful guidance for your marketing team.
- Analytics Tools. Seventy-seven percent of U.S. businesses believe their bottom line is impacted by inaccurate and incomplete data.4 There are a variety of online tools available for tracking lead development, engagement levels, amount of interest, and to carefully measure the conversion of leads to closed sales. Such tools include Customer Relationship Software (CRM), Google Analytics, spreadsheets, sales management software, and marketing automation programs.
- Human Decision Making & Interaction. Computer software can only take you so far. Only humans can develop quality content that spurs lead engagement. Sales programs can’t determine whether a lead is ready for a sales call or whether more lead nurturing is needed. Plus, you need a human brain to sort and analyze data to produce comprehensive marketing intelligence. These intangibles require real human analysis and decision-making capabilities to develop metrics and craft reports that render the data actionable.
- Real-Life Testing. In addition to analyzing your metrics, creating reports, and implementing the recommendations into your digital marketing strategy, you need to go one step further. It is also important to test those processes often in order to discover opportunities for improvement and gauge whether your strategies are working to optimize your sales pipeline. You’re reviewing metrics to find links among data sets—it’s key to test the assumptions you’ve made about this data.
Key Performance Indicators for Tracking Leads
In addition to analytics, you need a solid reporting strategy in order to decipher that mountain of seemingly unconnected data into a readable, usable format. This is where the lead report comes into play. Using a variety of KPIs, a lead report presents the applicable data so that the marketing team can make recommendations off of these metrics.
When preparing a leads 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 results
- Speed 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
Using these analytics tools and reporting methods, you can gain insight into what your web visitors and prospects are doing and how they are interacting with your content and brand. With this intelligence, you can act on that data and let it inform more thoughtful conversations with leads. This is why 93 percent of U.S. companies say data is key to their marketing success, and 91 percent say they’ve invested in data-quality initiatives in the past year.5 Many businesses choose to hire a leads analysis expert to help them implement a web leads analysis and reporting strategy.
Get A Free Leads Analysis Today From Sprint Marketing
With an aim to increase our clients’ web leads by optimizing their marketing and sales channels, Sprint Marketing can provide your team with the best B2B lead analytics and reporting in the industry. Contact us today at www.sprintmarketing.com for a free leads analysis.
- Information Week http://www.informationweek.com/big-data/hardware-architectures/10-more-powerful-facts-about-big-data–/d/d-id/1278598?image_number=3
- Kapost http://kapost.com/content-marketing-facts/
- Gleanster Research via SalesStaff http://info.salesstaff.com/blog/bid/147687/30-B2B-Sales-Marketing-and-Lead-Generation-Stats-that-Will-Blow-Your-Mind