In today’s technological world, it is so easy to harvest data from your customers via phone, website, email, social media. etc. Even though this data is really easily accessible, it is still important data to have and use. Here is our list of the nine most important metrics that you should be tracking in regards to lead generation.
1. Monthly Targets
You can determine your month’s goal based on last month’s/year’s revenue usually, depending on the type and seasonality of your business. During the month, track if you’re likely to hit the goal and use that to determine if you’re making progress with your advertising efforts.
2. Conversion Rates
You may see that your SEO, social media, or advertising has an outlier conversion rate. You can use that information to increase your conversions on other avenues. Your conversion rate should be hitting industry conversion standards. For most industries a conversion rate of 3-5% is pretty standard. However, Red Wagons conversion rates are much higher.
3. Cost Per Each Lead
You absolutely should know how much each lead costs. This helps you determine whether or not it is profitable to keep advertising.
4. Time Spent on Page
People that read your page will spend more time. If your time on the page is too low, you need to figure out how to engage readers better.
5. Cost Per Click (CPC)
CPC is another metric that determines whether or not you should keep advertising.
6. Return on Investment (ROI)
ROI should be maximized and is a function of your cost per lead.
7. Conversion Time
Try to minimize your conversion time so that you make money faster on the money you spend.
8. Conversion Rate
Use conversion rates to determine whether your calls to action are effective.
9. Click Through Rate (CTR)
Your CTR may show that your ads are ineffective and need to be rewritten. Monitor this to make sure that your ads are effective.