Lead generation is very important for the growth of a company. If you are an entrepreneur selling your products, you will expect your marketing executives to generate as many leads as possible so chances of converting these leads into sales become high. But during the process, you should know the number of leads you should be generating every month as well.
You will have a clear idea of the ROI or the Return on Investment you can expect as well. Knowing the number of leads your business is capable of generating will help you fix the success rate percentage you can realistically achieve.
Of course, these details will differ from one industry to another. They differ from one company to another also. The results of your study will solely depend on how effectively the marketing strategy you have put in place works, the sales strategy you are putting to use, the performance of your marketing executives, and the quality of contents on your website as well as on your sales letters, emails, press releases, and sales pitches.
How to assess the number of leads you should generate each month?
Based on the industry in which you operate, the number of leads you have to create every month will differ. Of course, there are various other factors that may influence this figure. It involves lots of complicated calculations as well. But the good news is that ROI calculators are available for simplifying these calculations so you can know the lead volumes that can realistically be aimed at for achieving the optimal ROI. Of course, the revenue targets you have fixed should also be taken into account for arriving at a realistic figure of the leads you should aim to generate.
Another point to remember is that if you want your inbound campaigns to succeed, you should set realistic targets in the beginning of the campaigns itself. Of course, you should take into account your revenue goals, the order values you are getting, the length of the sales cycles, the rate of conversions, and so on. In short, all these aspects should support the aim you have set for generating a particular number of leads.
The quality of the leads generated is another very important aspect to be taken into account. The intention is to focus on those quality leads that are likely to get converted and not on the initial volume of leads that is generated.
Importance of controlling the number of leads.
This whole process leads us to the importance of controlling the number of leads by using caps. You should be clear about the type of the leads you want so you can efficiently control the number of leads. You should monitor it real-time as well. Similarly, you should control both the number of leads that are received and those that are delivered as well. You should therefore configure appropriate caps so you will be able to tackle even highly complicated scenarios.
Are you into affiliate marketing?
You may wonder how caps in affiliate marketing will work. Experts suggest that even if you are doing an affiliate marketing business, you should ensure to put in place appropriate caps for controlling the number of leads you generate. Similarly, there should be caps of offer in affiliate marketing as well, should there be a need.
What is the main purpose of controlling the number of leads using caps?
The main purpose is to always ensure that you generate only quality leads that can easily be converted into sales. To put it differently, your business should become a lead magnet that attracts only high quality leads. In fact, though you will be using caps for controlling the number of leads you generate, they will really be playing the role of hidden lead-generating devices that help in generating only quality leads.
Which caps should you use for controlling the number of leads you generate?
There are several ways to to put caps in order to control the number of leads you generate. The number of options available may bewilder you and hence, you may not be able to make the right choice. In this context, you are advised to design a check list for assessing the efficacy of the caps you are considering. You should choose only that CAP that ticks all the columns in the checklist. Though there are experts available for helping you in this process, you can use a self-scoring method for assessing the efficacy of the caps you are considering.
But once you put in place appropriate caps and start using them for controlling the number of leads you generate, you can be certain that you will be able to focus on quality leads that can be converted into sales. This is one of the major reasons why advertisers are capping offers as well.
On the other hand, not controlling the number of leads will lead to utter confusion and this may hamper the output of the efforts you make for taking your company to higher levels. Simply put, you cannot achieve the growth rates you are aiming at if you do not judiciously control the number of leads you are generating.