As a marketing executive, you may receive raised-eyebrow looks from your sales team members when most of the leads you generated don’t convert or worse, they do not even qualify as sales opportunities.
This is the usual case when a company prioritizes quantity over quality of leads. It may work out for some, however, it doesn’t assure promising revenue stats. The company gets to know that something’s wrong with its lead generation only when the lead conversion rate starts deteriorating.
That’s when measuring and generating quality leads using visitor identification comes into the picture. Visitor identification enables measuring the quality of leads right from the top of the sales funnel. Also, it further helps in generating high-quality leads. In this article, we will discuss how you can measure and generate quality leads with visitor identification.
- Get Insights on Behavior and Identity of Website Traffic
- Profound Details of Visitors Visiting Your Website
- Find Which Campaign Details and Keywords are Working
What Is Visitor Identification?
Visitor identification is an account-based quality lead generation and measuring approach that helps to identify the anonymity of the website visitors. It offers crucial insights into who visited the website by matching the IP address of a website visitor with the database of IP addresses used by an organization.
Visitor identification is extremely helpful as it helps a company reach more website visitors and therefore, increase the number of quality leads.
How to Measure Quality Leads With Visitor Identification?
Most marketers struggle to get quality leads as they don’t think of the problem until later in the sales pipeline. The quality of website visitors is directly associated with the quality of leads you’re generating. So, it is very important to always work on the improvement of generating quality leads.
Well, you can’t improve what you can’t measure, so, let’s focus on measuring the quality of leads first.
You’ll find numerous metrics existing and being discussed across the internet to measure lead quality using visitor identification. But using all of them will surely make you feel lost and leave you puzzled. So, to simplify the process, we’ll suggest a few simple yet super-effective metrics to measure quality leads with visitor identification. These are as follows:
Visitors to Leads Ratio
One of the most important metrics to measure quality leads with visitor identification is through visitor-to-leads ratio. This metric is similar to the conversion rate. How many leads you generate out of all the visitors you get in a particular time frame gives you a sense of the quality of traffic you’re generating.
The better the number, the better quality of leads is. This metric also tells about the marketing efforts your business is putting in to drive the right kind of traffic.
Leads to Opportunities Ratio
This is another metric to measure quality leads with visitor identification. The leads-to-opportunities ratio lets you understand how many leads you’ve generated turned into potential buyers. The higher the number, the better the quality of leads is. The lead-to-opportunity ratios for different industries are different.
For B2B businesses in different industries, the leads-to-opportunities ratio stays around 13%. Nevertheless, this number can vary to some extent considering the industry and time taken for conversion.
Time to Conversion
More time-to-conversion means you’re putting in more resources to complete a sales cycle for a lead. The shorter the time, the better the quality of a lead is.
A good time for conversion varies from business to business and industry to industry. You can research what’s an ideal time to convert for your business and aim at improving numbers.
Thus, these were the primary metrics to quantify the quality of your leads. However, if you want to measure a particular metric to address specific needs and interests of your sales team, you can find them in various visitor identification software available like FullStory, Kissmetrics, Woopra, etc.
How to Generate Quality Leads With Visitor Identification?
Once your business quantifies its lead quality or probably categorizes its leads with lead scores, it’s time to improve the quality of leads. The measurement of quality alone won’t improve the sales and revenue of a business.
As said earlier, improving the website traffic quality itself will contribute to improving quality leads. Moreover, the insights visitor identification provides goes a long way in generating more leads and improving other metrics. Let’s see how you can generate quality leads with visitor identification.
Get Insights on Behavior and Identity of Website Traffic
Let’s understand it with an example. For instance, 4% of your entire website traffic converts into leads. This altogether shifts your sales and marketing teams’ focus to just 4% of the traffic.
However, the rest 96% of website traffic is a gem mine for your business. Here, a visitor identification tool can come to help as it can track the IP addresses of accounts that visited your website along with contact details. The tool also tracks their behaviours, times spent on your website, and other insights that can tell you a lot about their interests.
All this data can be leveraged for the sales and marketing strategy of your business to generate more quality leads from the rest 96% of the visitors that initially didn’t result in leads.
Profound Details of Visitors Visiting Your Website
Visitor identification will help you generate quality leads by letting you know what people from different companies visited your website and for how long. This is especially useful if your B2B business is in account-based marketing.
With the help of visitor identification, you can get insights into the company or organization that the visitors belong to. This also means you can know whether they fit into a buyer’s persona and categorize the lead further or not. Moreover, you can know Budget and Authority from BANT (Budget, Authority, Needs, and Timeline) lead qualification measure.
Find Which Campaign Details and Keywords are Working
Once you analyze the visitor identification data, you’ll know which campaigns or keywords brought quality leads to your business website. This, in turn, will be useful to make the entire marketing strategy optimized and generate more quality leads.
You can tweak your Email campaigns, Facebook Ads, Google Ads, and other social media campaigns to experiment with traffic and lead generation too.
For any business, quality lead generation is primal. But businesses can’t do it unless they know how to measure the quality of their leads. I hope learnings about putting visitor identification to measure and generate quality leads from this article will be super helpful for your venture.
How do you define quality leads?
Quality leads refer to the leads that are interested in your products or services and there is a high possibility of them converting into paying customers in the future. It simply means the leads that get converted into sales.
How do you measure lead quality?
You can measure lead quality in the following ways:
- Conversion rate
- Click-through rate
- Cost per lead
- The visitor-to leads ratio
- Leads to opportunities ratio
- Time to conversion
What are the types of lead generation?
The two main types of lead generation are:
- Inbound lead generation (company's website, blog, social media posts, etc.)
- Outbound lead generation (pop-up ads, cold emails, telemarketing, etc.)