This article is the most comprehensive sort of lead generation metrics and KPIs, perfect for businesses and digital marketers who want to measure their prospecting success and boost their lead generation strategies.
What Is a Lead Generation Metric or KPI?
A lead generation metric or Key Performance Indicator (KPI) is a quantifiable measure used to assess the quality and efficiency of sales and marketing activities in lead generation.
These lead generation KPIs help marketers find their strengths and downsides in the lead generation process. They help marketers measure their achievements and capabilities. And they make the decision-making process easier for the sales specialists.
How Do You Measure the Success of Lead Generation?
Measuring the success of lead generation can be done by tracking and assessing lead generation metrics.
There are various prospecting metrics and KPIs, which will be introduced in the next part. Before that, let’s read a step-by-step guide on how to measure the success of lead generation and prospecting:
- Set measurable objectives for your lead generation efforts.
- Determine which lead generation KPIs align with your goals.
- Track those metrics by using analytics and automation tools and CRMs.
- Compare your lead generation metrics against industry benchmarks.
- Continuously optimize your prospecting strategies to boost the results.
The above procedure helps you make the most of the lead generation KPIs and metrics. It optimizes your overall prospecting strategy for greater success.
List of Lead Generation Metrics
In this section, we introduce lead generation KPIs and metrics for sales and marketing teams.
Any marketers and sales specialists should be aware of these KPIs if they want to increase their sales and boost their decision-making. Without optimizing these prospecting metrics and KPIs, your campaigns will not result in the way that you scheduled and expected.
Attribution Channels
The most effective and leading marketing channel for attracting and converting leads is known as the attribution channel.
Attribution channels can include social media like LinkedIn or Instagram, where you find leads, attract them, and convert them to customers.
Average Deal Size
The average deal size is the average amount of money that the company makes from each converted customer.
Imagine a software-selling website. If a customer spends 100$ on average for buying software from this company per month, then the average seal size is 100$ per month.
Bounce rate
The visitors that go to a website but leave the website without performing any action is known as the bounce rate. They enter the website but do not do any action that contributes to lead generation and leave the website.
Churn Rate of Leads
This lead generation metric shows the percentage of leads that stop showing interest in your products/ services. This means that they lose interest in the process of lead generation, so they will not be converted to leads.
Connection Rate
Connection rate refers to the times that a marketer has endeavored to connect with a lead via email, social media, phone, etc.
Cost Per Lead (CPL)
The cost that a company has paid to acquire one single lead is known as the cost per lead. You can calculate CPL by dividing the total cost by the number of generated leads.
Conversion Rate
It refers to the percentage of leads that are converted to customers. This means that these leads have performed an action similar to purchasing a product.
Customer Acquisition Cost (CAC)
The costs that a company should pay to get a new customer. It includes all the costs the company paid for email marketing, social media campaigns, cold calls, etc.
Customer Lifetime Value (CLTV)
This lead generation metric refers to the total amount of revenue that a company expects to generate from one customer.
Inbound Response Time
Inbound response time refers to the time that one company responds to questions, inquiries, or problems via inbound channels like email or phone.
Lead Attribution
Lead attribution is the method of identifying which marketing efforts or channels are responsible for generating leads.
Lead Response Time
It refers to the speed of answering leads and customers to solve their problems or answer their questions.
Lead Value and Quality
They refer to how likely a lead is to convert into a paying customer and the potential revenue it could generate for the business.
Marketing Qualified Leads (MQLs)
It includes the leads that show interest in our products/ services, and they have certain criteria that are more likely to be converted to paying customers in the near future.
Return on Investment (ROI)
This lead generation metric shows how much you gain compared to what you spend. It includes the net profit you gain compared with the costs of the investments.
Sales Cycle Length
The time it takes for a lead to progress through the sales funnel is known as sales cycle length. It starts with the initial contact and ends with the sales.
Sales Qualified Opportunities (SQOs)
They are the leads that have progressed through the sales funnel, and they are more likely to be converted to paying customers.
Sales Velocity
Sales velocity measures the speed at which leads move through the sales pipeline. It indicates how quickly these leads and opportunities are converted into customers and revenue.
Website Traffic
It includes the number of visitors and people who visited a website within a certain period of time.
Optimize KPIs and Use CUFinder to Unlock Lead Generation Success
Paying enough attention to the mentioned lead generation metrics and KPIs and optimizing your performance based on them is essential to boost lead generation and make the most of prospecting efforts.
However, another vital factor that cannot be ignored for optimized lead generation is CUFinder!
CUFinder is a lead generation and business data enrichment platform created to find companies and contacts and enrich CRMs in bulk and in no time.
We recommend you use CUFinder to discover leads and their data, as CUFinder has the most comprehensive company database in the world, with over 98% data accuracy rate! It has a simple lead generation dashboard that helps you search, filter, and find leads with a few clicks. You can simply integrate the results into your CRM.
Try your free trials to see how CUFinder can enhance your lead generation experience.
The Wrap-Up
This article explored what lead generation metrics and KPIs are and why they are important. It listed all lead generation metrics you should know from A to Z. Moreover, a lead generation platform, CUFinder, was introduced for company and contact search.
Promoting your lead generation metrics and using CUFinder both contribute to inspiring your prospecting effectiveness to higher levels.
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