How to Get More Value from Your Demand Generation Efforts
Darren Griffin on October 6, 2023
When we talk to clients, one of the things we like to impress upon them is one of our core principles: ‘Measure What Matters’.
So, as every client and their goals are unique, at LeadScale, we engage in deep conversations with new clients to understand their specific needs before starting a campaign. We want to know what metrics matter most to them. Is it Marketing Qualified Leads (MQL), Sales Qualified Leads (SQL), open opportunities, or revenue? Your sales cycle and business objectives are pivotal in shaping the metrics that should take centre stage.
The Power of Automation
We work with clients to determine their most important metrics and set up automated lead feedback methods. This will enable automated and more efficient optimisations to value.
Depending on your sales cycle, some marketing managers want to optimise to multiple metrics, including MQL, SQL, open opportunities and revenue.
Here, we have a feedback loop with one of our clients; every time a lead that LeadScale Services has purchased triggers a new status in their marketing automation platform, we are sent a signal and ingest that into our Lead Management Platform, LeadScale Engine.
We can then start working out how much each partner costs on an effective cost per MQL* basis. For this campaign, each partner had the same content, targeting and filters applied so we could fairly benchmark each partner.
*everyone has a different definition/scoring for MQL; this client’s MQL status is higher than usual.
Making Data-Driven Decisions
As you can see, the cheapest partner is not the best performer. The second-best performer is 71% more expensive than Partner 3. Also, you can see that CPL is not the most important metric. Therefore, buying decisions should be based on value, not cost.
We can use this information to recommend removing Partner 5 from future campaigns and replacing them with another partner. This change aims to find someone who can generate leads at an equivalent value of at least the first 3 partners.
We do not just have to measure by MQL. We can measure by SAL, SQL, revenue, or whatever metrics matter to you. You do have to consider the length of your sales cycle and the average time it takes to move a lead from generation to SQL in your nurture funnel.
Allowing a feedback loop lets LeadScale Services do the heavy lifting in your demand generation campaign optimisation. We don’t just stop at identifying value at a Supplier level but spotting trends and patterns when looking at another firmographics.
Embrace the Future, Lead the Generation
LeadScale is revolutionizing the way businesses work with lead generation. Our experts are helping companies reach new heights by driving success and efficiency through data-driven insights. So, take the first step today. Let LeadScale empower you to unlock the true potential of your business and boldly navigate growth.
Contact our team to see how you can maximize your marketing budget with LeadScale.