While it’s nice to see an influx of new leads, no one wants to spend a significant portion of their marketing budget on a LinkedIn or Facebook campaign only to discover that none of the generated leads convert into paying customers. In this blog, we share some tips on how to define, measure, and improve the quality of your leads on social media.
Simply put, a high-quality
lead is one that is likely to convert into a paying customer. It can be difficult to determine who these leads are when running lead generation campaigns on social media. However, with the right definition, measurement, and tracking, you student data should be able to gather the information you need to optimize your social media campaigns to generate quality leads.
Your definition of a high-quality lead will typically reflect your ideal customer profile. One way to define lead quality is to use customer lifecycle marketing to map the various stages a lead goes through to become a customer and identify the leads learn from cornell’s brightest minds most likely to convert. For example, at Driftrock, we use a funnel report to track our social media leads throughout their lifecycle. Our definition of a high-quality lead reflects the criteria we’ve established for a marketing-qualified lead. In addition to this data, we also analyze the performance of each of our campaigns and how many of the generated MQLs actually convert into paying customers over time.
A good starting point for defining
high-quality leads is to examine your existing database and determine what the leads who become customers have in common. Do they contact lists share a specific industry or job title? Do they have a fixed budget to spend on your products? Analyze your data and create a list of trends that gives you a good starting point for clearly defining who your most valuable leads are.