This column is by Aaron Wittersheim, Chief Operating Officer, Straight North
When building an online marketing strategy, a great way to measure its success is through lead validation. In online marketing, lead validation is the process of sifting through your website’s inquiries and separating non-sales-related inquiries from actual sales leads. According to data in our inhouse report on “The Critical Importance of Lead Validation in Internet Marketing” study, about half of a company’s website conversions are not sales leads. If you’re judging the success of your campaign on the number of inquires received, your results may be largely overstated.
Here are three key benefits of validating leads:
- You will know the marketing source for each validated lead.
- You will know the accurate cost per lead instead of just knowing the cost per conversion, which the data proves can be deceptive.
- You can optimize campaigns based on actual sales leads as opposed to other types of conversions (e.g., spam, customer service communication, empty form submissions, phone misdials, etc.).
Having this kind of reliable data will aid you in properly investing in online campaigns that are contributing to ROI versus those that are contributing to very little returns or losses. The study also reveals that 85 percent of sales leads converted on the first visit, which means the quality of your site should always be a top priority.
Hope this was useful. How do you validate leads in your organisation? Do share in the comments section below
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