Whoever said numbers do not lie was obviously not referring to online marketing numbers. There is nothing that boosts the morale of the marketing team than seeing lead numbers go up. However, increased lead generation numbers do not always mean increased sales. To optimize your online marketing efforts, you should focus on generating leads which create the most downstream value for your business as possible.
If you’ve been upbeat seeing an increase in your lead counts, take the next step and qualify them. Here are six warning signs that you are not generating leads that will create value for your business.
1. Negative feedback from sales or call center representatives
When you get on the phone with a lead, you have a direct touch point and can usually tell whether your interaction will result to a conversion. If interactions or calls with your leads is short and does not on the aggregate result in conversions, there can be two reasons for this: you are targeting the wrong buyers or your offer does not provide the requisite value to your subscribers.
The key to generating quality leads is to identify your ideal buying persona and then create content that resonates well with them. Having a high level connection with your leads reduces friction to taking the next step and lowers email unsubscribe rates.
2. Lead budget does not match your price
If you are offering a $700 product while you lead is expecting to spend no more than $300, then there is a disconnect between your offer and your target market. Your lead generation process can help you save time by qualifying leads early on so that you are left with a highly targeted group that will buy.
In the case of a price disconnect, indicating your pricing on your website will help to weed out unqualified leads. After indicating your pricing, qualified leads who continue to engage with you have qualified themselves through reconversions. These leads are more likely to end up being customers.
3. Most leads are non-decision makers
If most of the time, the people who will download your content are not the decision makers in their companies, you may have a problem. However, if you have your content strategy laid out right, it will not be difficult to get the decision makers on the phone for sales.
As you analyze your leads, check what position they have in their companies. For B2B companies, if no C-Level executives are downloading your content, perhaps you are not providing content worthy of their attention or your traffic strategies are geared to the wrong buying personas. Evaluate your content strategy to weed out non-decision makers if you are having trouble converting the leads.
4. Conversion rates are dismal
To effectively qualify leads, your content should push them further down the sales funnel through marketing automation practices and lead nurturing. When your leads reconvert, you can further qualify them effectively and weed those that are likely not to end up being customers.
When tracking your leads, check the level of engagement that continues after they have downloaded your content. If leads are not reconverting or end engagement relatively quickly, they your premium content is falling in the wrong hands.
5. Email subscribers do not stick
Email unsubscribes can be a good indicator and filter because prospects are unqualifying themselves, and thus you remain with a highly targeted group that is interested in your offer. To make sure you have an engaged subscribers list, identify their needs and solve them through your product, offer and content.
Your content should be compelling and educational. Depending on how far down the sales funnel the leads are, you might want to refrain from certain actions e.g. pushing sales before building trust with the subscribers through providing quality content over time.
Before you declare success on your lead generation campaign seeing increased lead counts, determine whether or not the leads are driving sales for your business. Lead volume is only a piece of the puzzle.