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Is your lead generation pool leaking? How do you even know there is a problem in the first place, let alone how to fix it?

A lead generation pool is worth its weight in the revenue it generates. If your system is not generating the ROI you expected, you may have a problem. But you are not alone. Generating high-quality leads that result in sales is the biggest challenge for 61% of marketers.

This article, will highlight the most important indicators to help you identify the problem and save your lead generation pool.

1. Identify the problem

Many marketers are obsessed with vanity metrics, such as traffic, impressions, bounce rate, followers, shares, comments, views, time spent on site, and leads. But they are called vanity metrics for a reason: They aren't worth much in revenue generation or conversion rates.

Because those numbers are easily manipulated—either intentionally or unintentionally—they can be misleading, and they imply success without achieving tangible results.

Relevant KPIs to focus on:

  • Qualified leads are the right people with the right problem. Leads may express their problem by downloading a specific resource, or by letting you know about the problem in a form they submit.
  • Landing page conversion rate is the percentage of visitors who land on a page and then take action. Your landing pages should typically have a 4% conversion rate. The lower it is, the less compelling your landing page is—or the wrong people are visiting.
  • Marketing-qualified leads (MQLs) are qualified leads who want to speak with you. They are the most significant metric of your lead generation efforts.
  • Qualified leads to MQL conversion rate
  • Cost per lead (CPL) measures the effectiveness of your revenue generation efforts and your return on investment (ROI).

KPIs related to customer acquisition are important because they determine where to invest more money and how effective marketing budgets are over time.

To save your shrinking lead generation pool, you need to find the leaks.

One way to do so is to analyze the following:

  • Strategy. Your strategy is the foundation on which you build your processes. A solid lead gen strategy lies in a properly researched target audience with effective buyer personas and the right channels to reach them.
  • Process. The next step is to engage and nurture your potential prospects until they are ready to make a purchase. This step aims to cultivate a relationship with your potential customers, and it mainly involves your interacting with them (via email or social media channels) until they trust you enough to do business with you.
  • Conversion. Creating the ideal system and processes is just the beginning. Many factors can derail your campaigns' potential and reduce conversion: not looking credible enough, lacking personalization, and failing to deliver the promised value. Working on resolving those issues before the campaign gets off the ground is essential.

2. Align your lead and sales strategies

An effective lead generation campaign involves targeting and nurturing qualified leads with well-defined processes. Those processes start with the aligning of the sales and lead gen teams. Both departments must have the same definitions and the same goals. That way, your sales team can win more deals by focusing on ready-to-close qualified leads.

Here are ways to achieve alignment.

Collaborate as a team on sales enablement

When your teams share information and offer feedback, sales enablement is much easier. Your B2B lead gen team can provide valuable feedback that can boost sales.

Lead generation and sales teams need to share their findings with each other; otherwise,research can go to waste, resulting in lost revenue and wasted budgets.

To maximize ROI, you should create a collaborative environment where information sharing is encouraged and input is welcomed.

Identify your B2B sales and lead gen teams' tech needs

The right technology can help you successfully align your lead and sales strategies. For example, when you implement a single tech stack, your teams can collaborate while viewing your customers through the same portal.

When you take the time to sit down and understand each team's needs, you can develop a tech stack that keeps workplace satisfaction high while boosting productivity and efficiency.

As your teams become more familiar with each other's processes, stronger bonds will develop, and a sense of competition will be less likely.

3. Use ABM

By focusing on a single account, your teams will be able to grow your revenue as a united team.

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How to Save a Leaking Lead Generation Pool

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ABOUT THE AUTHOR

image of Carter Mills

Carter Mills is the marketing manager for Toronto-based Wingmate, a B2B sales management and enablement platform that helps service-driven companies accelerate growth.

LinkedIn: Carter Mills