Metrics are incredible tools to measure performance. Without metrics, a business is just throwing methods and practices out to the universe hoping one will eventually stick. This wastes company time, energy, and money. When you can measure performance, you can improve it.
A few lead generation metrics to track are click-through-rate, conversion rate, and return on investment. Click-through-rate, CTR, tells you how many people are clicking on your ads or call to actions, CTAs. As a tip, you should have a CTA on every page of your website to keep visitors on your page for longer. One of the most important metrics to track is the conversion rate which tells you how many visitors are taking a specific action. The lead generation process is all about conversion. Converting visitors into leads, leads into customers, and customers into promoters. At the end of the day, the most important metric is your return on investment, ROI. ROI tells you how much money you made. This metric answers the question: was this investment worth it? Hopefully the answer is yes, or you’ll have some serious explaining to do.
Many people measure their company’s success by the number of visitors on their website, but website metrics are not enough. You may have 1,000 visitors a week, but if none of those visitors become customers, your efforts are not working. Visitors and high website traffic does not mean you’ll be converting customers. It’s all the flash without the reward. The same idea goes for social media accounts like Twitter, Facebook, and Instagram. Many people value the number of followers they have on a social media platform versus the actual engagement and conversion. Huge quantities of followers look great initially, but if only 20 out of 3,000 followers are legitimate, your company will ultimately suffer. In order to reap the rewards of lead generation, the analytics have to be broken down into several parts. The metrics that need the highest amounts of attention are CTR, conversion rate, and ROI.