May 23

4 step lead generation analysis to optimize sales conversion

Lead Generation

1  comments

When you think of word optimization, you might think of writing keyword-optimized posts for search engine optimization or running AB split tests for landing page optimization.

But, in reality, any marketing process can be optimized from demand generation, account-based marketing and, lead generation.

I’ll review the basics of reviewing your demand generation funnel. We’ll provide a few back-to-the-basics tactics that you can consider as you work on planning your campaigns and budgets.

Among other things, we’ll take a basic look at conducting a lead generation analysis to help you optimize your lead generation process, campaigns, and programs.

It’s really quite simple, but it requires taking the time to evaluate what really works while building a deeper rapport with an equally busy team of quota-carrying sales reps.

Step #1: Review closed deals

The best way to determine what will work is to look at what has worked. Begin with an analysis of the deals that have closed.

How did these closed deals enter the system?

Here are a few pieces of data you want to record during this review for each channel and specific campaign (and you likely want to add a few attributes that are unique to your company, as well):

  • Number of deals won
  • Total revenue
  • Average deal size
  • Buyer persona traits
  • Ideal customer profile fit

 Step #2: Review new marketing qualified leads

Now that you know what works, take a look at what you currently have. Break down your pipeline by marketing tactic used, and determine:

  • Total marketing qualified lead volume – How many leads does each channel/tactic generate?
  • Sales Qualified your universal lead definition defines lead volume – How many qualified leads?
  • Percentage of sales qualified leads per marketing channel – Determined using the above numbers.
  • Cost per marketing qualified lead – How much did these leads cost?
  • A buyer persona(s) targeted – Which ponds are you fishing in, and whom are you trying to catch?

 Step #3: Ask Sales about MQLs

Check-in with Sales to gather feedback on the performance of lead generation campaigns. You want to back up your data with real human experiences. What type of leads works best for Sales in their opinion?

This human interaction might help you uncover that although a specific tactic generates leads that close, they require many more resources from Sales to close the deal, while other leads are much easier to close.

For example, leads from a content syndication vendor may take a lot more work from Sales than inbound web leads that provided all of the necessary info, and they’re much closer to discussing with a rep.

 Step #4: Identify opportunities to optimize

Use this complementary data to identify the most effective channels and campaigns.

Consider what KPIs to optimize for, including lead volume, qualified lead volume, the percentage of qualified leads per channel, and the percentage of closed leads per channel.

Now that you know what has closed and what types of new leads you’re generating, where are there overlaps? Where do you fall short?

For example, if you’re investing a lot in a tactic that generates many leads but never closes, you may want to shift some of that money to a tactic that produces a lower volume of leads that are more likely to close.

Intro to Lead Generation: How to determine if a lead is sales qualified

Not only will this help you optimize your marketing investments and lead generation capabilities, but it can also help optimize your relationship with Sales.

When you have specific reasons to back up why you’re investing budgets in a certain way (which they may or may not agree with), they are more likely to support your decisions.

If nothing else, the human interactions of a Sales-Marketing huddle show that you’re actively seeking input from Sales to help serve them better and not allocating your budget and resources in a vacuum.

Related Resources:

Lead Nurturing: 5 Useful Tactics to Get More Opportunities

New B2B Persona Research From Salesforce and LinkedIn Study

How Sales Hustle and Automation Can Hurt Customer Experience

How to Do Lead Management That Improves Conversion

The Biggest Contributor to B2B Revenue

About the author 

Brian Carroll

Brian Carroll is the CEO and founder of markempa, helping companies to convert more customers with empathy-based marketing. He is the author of the bestseller, Lead Generation for the Complex Sale and founded B2B Lead Roundtable LinkedIn Group with 20,301+ members.

  1. Hi Brian,
    I enjoy your blog and had a question.

    I am Marketing Director for Bullseye Locations. We help B2B manufacturers, especially in the building material supply segment, grow by having them better utilize the store locator on their website to generate and manage leads.

    We have done thought leadership blogs on these topics and I was wondering if there are any guest blog sites that you’d recommend we approach to help gain awareness.

    Brian, thank you very much for your help on this.

    Best regards,
    Steve

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