Lead generation is an extremely important for any business and having potential customers interested in your products or services after investing in different campaigns and digital initiatives is a great start.

However, this is just the first step – what you can’t forget is what these leads are doing in terms of business performance. Are they good leads? Are they actually interested in my product or service? How many of these leads are converting to sales? And the most important question you need to ask is; are these leads making or losing the business money? If you are serious about having an impact in your industry, these are the questions you need to be asking when it comes to lead generation.

How does conversion come into this conversation?

Conversion is well and truly part of the lead generation conversation because it’s the final piece of the puzzle. Ask yourself, is there any point generating leads for your business if you cannot answer the above questions? The answer is no.

Any business that succeeds (digital or otherwise) knows exactly the following information about their lead generation and conversion strategy:

  • How many leads they are generating
  • How much they are spending to generate these leads
  • What the cost-per-lead is
  • The percentage of leads converting to sales/conversions
  • What the overall cost-per-conversion is.

Don’t be overwhelmed; these are easy questions to answer and will define your business. Once you know which leads are converting, you can resort to high-value strategies such as conversion (rate) optimisation. This means implementing strategies that increase the percentage of leads into sales.

Remember that if you’re spending money on leads, you want to be getting ‘bang for your buck’ and feel confident they are converting to financial wins for your business. Those who focus purely on the lead generation aspect and forget conversion will find themselves behind the pack.

Find out how you can get started today.

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