Lead conversion is as important as lead generation.

Lead generation is a crucial aspect of any business, as it involves attracting potential customers to your products or services through various campaigns and digital efforts. However, simply generating leads is not enough. It is essential to evaluate the quality of these leads and their impact on business performance. Are these leads genuinely interested in your offerings? How many of them actually convert into sales? And most importantly, are these leads profitable or causing a loss for your business? These are the critical questions that need to be addressed when it comes to lead generation if you want to make a significant impact in your industry.

Conversion plays a vital role in this discussion. It is the final piece of the puzzle. Without being able to answer the questions mentioned above, there is no point in generating leads for your business. Any successful business, whether digital or not, understands the following information about its lead generation and conversion strategy:

1. The number of leads being generated

2. The amount of money invested in lead generation

3. The cost per lead

4. The percentage of leads that convert into sales or conversions

5. The overall cost per conversion

While these may seem overwhelming, they are relatively straightforward to answer and can define the success of your business. Once you have a clear understanding of which leads are converting, you can focus on implementing high-value strategies such as conversion rate optimisation. This involves tactics aimed at increasing the percentage of leads that turn into sales.

It is crucial to remember that if you are investing money in lead generation, you want to ensure that you are getting a good return on investment and that these leads are translating into financial gains for your business. Neglecting the aspect of conversion and solely focusing on lead generation will leave you lagging behind your competitors.

Take the first step towards optimising your lead generation and conversion strategy today.