Most sales personnel at companies we talk to feel their websites do a fair or poor job of generating sales leads, with many being to small, not suitable or not really leads at all. Chasing down these marginal leads distracts sales reps and diverts them from more productive activities such as closing sales.
But there is way to ratchet up website sales lead production to a whole new level, ant it is described in detail in the presentation below, The Critical Importance of Lead Validation in Internet Marketing. If your company adds lead validation to its internet marketing processes, it will pay off in a big way.
What is lead validation?
Quite simply, it is the manual activity of going through all website conversions (that is, from submissions and phone inqiuries) to seperate true sales leads from non-lead conversions.
Why is lead validation important?
As you will learn in the presentation, about HALF of all website conversions are not sales leads. Most companies, while vaguely aware their lead generation websites are underperforming, do not realize the percentage of non-leads is so high.
But it is. How do we know? We've analyzed more than 600,000 website conversions through our lead validation system, and the percentage of lead to non-leads, while varying somewhat from client to client, never stray too far from this norm.
Non-leads are typically made up of things such as spam, customer service inquiries, incomplete forms, sales soliciations, personal phone calls, and inquiries for products/services the company doesn't sell. Not all of these non-leads are worthless, however: A customer service inquiry from an important new contact at an existing account could be worth its weight in gold. Nevertheless, filtering sales leads from non-leads produces two extremely important benefits:
- First, lead validation allows companies to accurately measure the effectiveness of their lead generation marketing (SEO, PPC, email, etc.). If companies rely on inflated, hazy conversion data to assess marketing campaigns, they will overestimate their value and overinvest in them. Not good for the bottom line or for lead generation!
- Second, and even more important, having accurate lead data rather than hazy conversion data enables campaign managers to conduct and evaluate campaign tests far, far more effectively. For instance, conversion data alone may tell you a certain keyword produces 80 conversions, a good number hypothetically. However, with lead validation in place, the campaign manager may learn that this same keyword produces only 20 leads, whereas another keyword with fewer conversions produces more leads. Thus, with lead validation, the manager will emphasize the appropriate keyword, making the campaign better, not worse, as he/she would do without validation.
For a fuller explanation of lead valdiation, review the presentation here:
This guest blog was contributed by Aaron Wittersheim, Chief Operating Officer at Internet marketing agency Straight North.
Image source: ©unsplash.com/@szolkin