What Are Realistic Goals for Your Lead Generation Campaign?
Let’s get right into it. The key word I want you to focus on from the title of this blog is realistic.
Of course you want your business to grow. That’s a given. And a strategic, focused lead generation campaign is the most consistent, reliable way to get new customers through the door.
But “skyrocket my business” isn’t exactly a specific, measurable goal. You need to dig deeper.
Goals give your company something to work towards, but reaching for something unrealistic will knock you off the path to success.
Once you’ve done the research and crunched the numbers, you’ll land on that perfectly balanced goal. From there, your lead generation will improve drastically.
This notion is a universal truth for all businesses. Having a clearly defined objective gives you the focus to achieve what you’re aiming for.
Why Are Realistic Goals Integral to Your Success?
First and foremost, studies show that – out of 3,000-plus marketers – there is a 376% likelier chance for success for those who set goals.
Giving yourself realistic benchmarks lets you plan and budget time and money around those expectations.
You won’t over-commit and experience a catastrophic outcome that sinks you financially. Plus, you invested a reasonable amount of time that hasn’t taken away from the rest of your business.
Whereas an unrealistic goal might act as a financial sinkhole that takes your focus off what brought you to the dance: providing quality services.
Metrics That Will Help You Set Realistic Goals
It’s tricky to improve upon what you can’t measure.
However, what you’re measuring should provide valuable insights that help you generate more leads.
What are some examples of meaningful metrics for lead generation?
- Marketing Qualified Leads: leads that have shown interest in your services but aren’t ready to make a purchase. These individuals have performed an action such as filling out a contact form or clicking on an ad.If you nurture an MQL, they’ll be likelier to convert into a customer or client.
- Conversions Through the Sales Funnel: tracks how leads travel the marketing funnel towards being a customer. If customers are moving down this path successfully, it’s an indication that your methods are working.
- Sales Qualified Leads (SQL): a metric that becomes meaningful deep into the buyer’s journey. A wealth of SQLs means that you’ve performed well in cultivating relationships with MQLs and keeping them interested in your services.
4 Critical Factors to Weigh In Setting Realistic Goals
1. Average Deal Size
- Smaller transactions make it more challenging to get a decent return on your investment.
- If your focus is on smaller deals, you’ll have to convert at a high volume.
- Your deal size dictates the preferred size of your prospect or lead database. If you have a more significantly sized deal size, you don’t need to work with as many leads.
2. Average Sales Cycle
- Knowing how long it takes to convert a lead into a buyer gives you a clearer picture of your potential return on investment (ROI). Plus, it helps you grasp the various steps in your pipeline.
- You must adjust accordingly to these timeframes for the most realistic projections of your ROI.
3. Complexity of Sale
- You need to consider how complicated your message is and how many people will be involved in crafting your goals.
- These factors often dictate the number of call attempts and the number of contacts per account for callers.
- Complex sales bring in more value per deal and often justify a lower response and conversion rates because of the money being brought in.
4. Quality of Data
- If you’re receiving quality data about leads, you’ll be spending your time trying to convert people who are more likely to purchase your products.
Defining and achieving your lead goals could mean exciting things for you and your company: higher profit margins, faster growth, and freedom to try new things. Reach out to us to learn how to start generating more leads online now.