Symptoms of Unpredictable Lead Gen:
- No Automated Lead Nurture
- Unknown Conversion Metrics
- Undefined Marketing Funnel Stages
Understanding the Problem
No matter how your performance as a marketer is measured, funnel stage conversion rates are part of your process. Many marketers mistake their goal metric as the only metric to track (e.g., leads generated per quarter). This oversight creates a very reactive environment: if leads seem down, send more emails, and buy more ads; if leads are up, assume everything is just fine.
The Solution: Standardize and Monitor Your Reporting KPIs
When marketing is executed proactively, campaign results become predictable, and any deviation from the standard becomes evidence of success for failure.
If your marketing has unpredictable success, then you probably aren’t using the right metrics to standardize and optimize your campaigns.
I recommend explicitly identifying funnel stages and benchmarking your current conversion rates. With these metrics, you will be able to clearly define where your process gap is. Additionally, you can predict the audience size needed to hit your target revenue or predict how much revenue you could generate from your current audience
This type of reporting is commonly referred to as a lead waterfall and generally requires some effort to develop. If you’re looking to jumpstart this at your company, we have, of course, built an easy to use lead waterfall template in Excel that you can download and use!
Download the Lead Waterfall Template HERE
If you’re looking for more quick fixes to big problems like these, check out other articles like this.
Overstretched Resources: https://www.tacticalma.com/lack-of-processes/
Weak Personas: https://www.tacticalma.com/poorly-defined-personas/