One of the main benefits of any business website is lead generation. It’s very easy to notice when a website is performing optimally and new website inquiries or leads are flowing in, but how do you determine when you have an issue that must be addressed? In this blog, I'll give you some techniques and suggestions to investigate lead generation performance and determine when it makes sense to revisit your website in order to improve your lead generation.
Tracking System - HubSpot
The most important aspect of determining a lead generation issue is having a solid tracking system in place. I’d be remiss not to mention our favorite tool HubSpot. HubSpot is specifically designed to help you attract and engage leads while allowing for the ability to quickly filter and view form submissions, deals, and related information to track key metrics. This not only hosts your historical information on leads generated but also gives you the ability to inspect them further to determine the quality of your leads. This could include average company size, average deal or opportunity size, inquiries by business segment, and much more. HubSpot in our opinion is the best way to track and monitor this information, and we’d be happy to tell you more about it if you’re interested. In any case, having a tool that helps you track these metrics is incredibly helpful.
Baseline - Expectation Setting
Once you have a system in place to monitor and track your leads, I’d suggest developing a baseline for monitoring. This could include a few different approaches and methodologies, but in any case, spending time with your team to develop this would be valuable. The first aspect of determining a baseline would be to look at historical data. How many leads were generated in the previous quarters or years, and what can your company reasonably expect? I’d suggest having this conversation with your marketing team, as well as your sales team to help align both on expectations and gather their input. Now we know that every company would like to grow, so matching your growth goals with your lead generation goals is a healthy exercise. In this case, I suggest taking your revenue goals and working backward based on your average deal size. This approach will allow you to roughly estimate how many more leads you’ll need to generate. Don’t forget to align your lead generation goals with your marketing budget. If you need to increase your amount of leads, you’ll also likely need to increase your marketing budget, or marketing activities to match your goals. A common mistake is thinking that you’ll always get more with the same amount of marketing budget or effort. All across the board, you’ll want to have open and honest communication between all departments to develop goals that everyone can realistically achieve.
Diagnosing Lead Generation Issues
So, once we have the plans in place and the tracking system, what do you do when you notice that lead generation is dropping, or isn’t happening at all? Now remember, each month your lead generation should fluctuate depending on your business, industry, seasonality, and many other factors. As a business owner or executive, you’ll more than likely be aware of these. As in any inspection of data, make sure you are reviewing this metric in a larger timeline size. I’d suggest reviewing it quarterly and making decisions on potential business impact at the same swath. Once lead generation drops beyond a point where you are comfortable, the following areas may be places to investigate first to determine if you have issues.
- Value Proposition: A compelling value proposition is a critical component of lead generation. Visitors to your website should instantly understand what you do, who you do it for, and what makes you different. If your value proposition is confusing or unclear, potential leads might quickly lose interest. Make sure that your messaging is impactful and resonates with your key buyer personas.
- Landing Page Design: Landing pages play a pivotal role in converting visitors into leads. A cluttered or confusing layout can deter potential leads from taking the desired action. Optimize your landing pages by keeping them simple, visually appealing, and aligned with your brand. Clear and persuasive calls-to-action (CTAs) guide users on the next steps, and simple and clear website forms increase the chances of conversion.
- Ineffective Content Offers: Content offers, such as checklists, e-books, or other downloadable resources, are powerful tools for capturing visitor information. However, offering generic or uninteresting content offers can lead to low conversion rates. Tailor your lead magnets to address specific pain points of your target audience, making them irresistible and valuable.
- Poor Mobile Experience: With the increase in the use of smartphones, a significant portion of all web traffic comes from mobile devices. If your website isn’t optimized for mobile users, you risk losing out on potential leads. Ensure that your website is responsive, with a user-friendly interface on various devices, to create a seamless experience for all visitors.
- Search Engine Optimization: A well-optimized website is more likely to attract organic website traffic and in turn, typically generates more leads. Neglecting or ignoring search engine optimization (SEO) can make your website difficult to find. Invest time in keyword research, quality content creation, and a solid backlink strategy to improve your website's visibility.
- Inefficient or No Lead Nurture Strategy: Generating leads is only the first step. Not every lead will be ready for a sales conversation. Having a plan on ways to keep your services front and center with your content, and marketing automation will help nurture leads into future sales conversations or cross-selling opportunities. Make sure to tailor your nurture strategies to meet your prospect at all stages of the buyer’s journey.
There can be many different causes and effects of lead generation woes, but having the right plans and infrastructure in place will help you avoid falling behind. Always remember to investigate all areas of your sales and marketing experience, along with external forces. Lead-generating websites are an incredible benefit to many organizations, if your website isn’t, we can certainly help. If you need help generating more leads in your business, we’d love to talk with you about ways we can help.