While the number of closed sales is the predominant indicator of success for a B2B lead generation program, it is not the only KPI that should be measured when evaluating your own staff or outsourcing an inside sales team.
There are other metrics that should not be overlooked and can be helpful to examine to ensure your campaign is on track.
The following are important KPIs for complex B2B lead generation that can be pivotal in the success of your program.
1. Number of times reaching the decision maker
One of the most important metrics you can measure when tracking B2B lead generation success is whether or not a caller reaches a decision maker within the organization he or she is targeting.
The decision maker is the person who has the buying power and therefore determines whether or not you will make it to the next step in the sales cycle. In theory, this should be very simple, but reaching decision makers and key evaluators can be challenging depending on the industry and company structure.
An experienced caller will be prepared with the right message — one that is concise and demonstrates an understanding of the industry into which they are calling.
Familiarity and an understanding of an organization at the outset are much more likely to get you in the door than a scripted pitch.
Even if a caller doesn’t reach the decision maker every time, the message is always important, as it represents your brand and the quality of your services.
Learn more about the techniques experienced B2B telemarketers use to consistently reach decision makers.
2. Qualified Leads
While tracking all leads might seem like a great way to understand how many potential sales your callers are bringing in, these leads can often be lightly-vetted with only a minimal interest in your products or services.
Instead, tracking qualified leads will reveal real success.
Delivering highly-qualified leads comes down to the experience of the caller and his or her ability to have a peer-to-peer conversation with a decision maker. These conversations reveal if there is truly a need for your product, service, or solution and potential for a close.
Experienced callers are more adept at identifying the needs of the company and uncovering business pains. Only then do they begin to discuss the potential of the service, product, or solution on offer, and establish next steps.
3. The Measure of Performance
This is most applicable when using an outsourced B2B lead generation firm to execute your cold calls. Outsourcing can be an extremely successful method for qualifying leads, but it’s important to be aware of how the company you choose for outsourcing measures performance.
Primarily, you will find two models: performance and professional services.
Performance models work on a pay-per-lead, which can work well for businesses looking to market basic products; however, these types of callers are often trying to set as many appointments as possible, which can lead to a large list of weak leads that are not truly qualified and will fail to make it through the pipeline.
Professional service companies are more focused on the quality of a lead. For more complex products, services, and solutions, the leads generated may be fewer but will have solid potential.
Identifying areas of weakness in your strategy will allow you to make changes that will positively impact your lead generation efforts and build upon the success of your B2B sales program. Consider these important KPIs when evaluating your B2B lead generation program.
The greatest advantage in our line of work has been our years of experience. Understanding how to speak with different levels of employees, how to craft a unique message, and thoroughly qualifying prospects to provide clients with the strongest leads is what sets us apart from the rest.
If you are falling short of your goals, or any of these KPIs, contact us to learn more about our proven methodologies and successful programs.