5 Things to Consider When Evaluating Lead Sources
Lead sources are usually measured by ROI, that’s the way it’s always been. While it is a key metric of course, it shouldn’t be the only one. Let’s take a look at a few other factors.
A Few Considerations
Examine the sales process. How quickly are the leads not only being divvied up, but actually contacted? How often are contact attempts being made? Marketing and sales are partners, but the marketing department DOESN’T close sales.
How complete is the lead data? Are you purchasing leads with all the pertinent information your sales people need? Why are these leads appropriate for your business? Ask your provider, or confirm internally if you’re generating your own leads, the source of the data. Is it a simple opt-in or are the leads generated from detailed quote forms?
Are incentives being used? We all love incentives, but they can impact quality. As you monitor results and incorporate feedback from the sales team you may find the quality of incentivized leads will suffer. Giving away a new iPod for completing an online quote form doesn’t translate to quality, just quantity.
If you’re using or intend to use a third-party lead provider confirm that they verify their leads for accuracy. Determine if they are using internal or external verification processes, and which ones?
Expand results tracking to go beyond closed sales. Tracking the number of contact attempts and times, contacts made, prospect interest and similar traits will allow you to zero in on areas of improvement. And not just for the leads, but the entire marketing and sales process.
Leads are the lifeblood of a business. Taking time to ensure yours are the highest quality, and most appropriate for you and your team, will improve results no matter how you measure success.