Lead Management Software
B12Leads – Capture, Distribute and Manage leads – Understand sales performance
4 Metrics about last years Lead Management efforts you should be considering.
Posted on 10. Jan, 2012 by Duncan Macdonald in CRM, Lead Generation, Lead Management, Lead Management Blog
When laying out your marketing plans for the year ahead and specifically weighing up your options for lead generation it is helpful if you can start from a position of knowledge.
We previously touched upon the benefits of knowing what lead management efforts have worked before but we thought it would be good to be a bit more specific and look at 4 key metrics you should be using as your building blocks.
Specific to Lead Management there are 2 types of metrics; those that help you manage the lead management process, making sure everyone is doing what they should, hitting their targets, making sure leads get actioned, and then there are those metrics that give insight into the quality and source of leads. These are the metrics that provide insight and the building blocks so you can make informed decisions about this year.
Generally you will be looking at what sources worked best, but also consider factors like markets, demographics, types of offerings, and the number of points of contact required. Take these criteria and run them across the following metrics and see what it throws up.
1. What is your win loss ratio? – It’s the obvious metric but nonetheless a good starter after all, sales are what matters. Don’t fixate as there can be a number of reasons outside your control that effect the win ratio.
2. What is the best source of opportunities? – It is all very well just considering the total number of leads, a better indicator are the numbers of opportunities created from these leads. This has a more direct effect on sales made. Ideally you should be able to calculate the conversion rate of Leads to Opportunities by your chosen criteria.
3. What is the average time for a lead to close? This can be a great indicator of sources of leads where the prospect is for one reason or another further along the buying cycle. A shorter average close time would indicate that these leads are more qualified, more educated about their needs and may represent an “easier” win for sales.
4. What is the Cost – Again you should look beyond just a cost per lead metric, consider the cost per opportunity and cost per sale. If your deals vary in size don’t let one large deal skew the results, use an average deal size instead.
One more thing it is not always all about the success, take time to look at the the most common reasons you loose deals. If it highlights a lack of product understanding, an eagerness to rush prospects through the sales pipeline before they are ready then see if you can address these through your marketing.
B12Leads is an online lead management tool to capture, distribute and convert leads. Everything you would expect from a CRM tool but with a focus on keeping track of leads and your sales teams. An affordable solution that has everything you need to take control of your sales pipeline.
