Lead Generation Metrics… How Much is Too Much?

There comes a time in every young person’s life when metric management and KPI’s (Key Performance Indicators) become a crucial component of their efforts. But what’s the most critical KPI? The KPI that helps you make decisions. Because we work with so many great marketers, our team at DJM Global has come to respect the critical necessity of KPI’s, but in doing so, we’ve boiled our reporting efforts down to a few key components essential for successful lead generation – in our specific world.  This last statement is key to understand as EVERY company and EVERY marketer has unique requirements – no two are the same.

For high-quality, low-volume lead generation; the fundamental KPI’s are as follows around data quality:

• What’s the status of the data in each call cycle?

• What’s the amount of ‘new’ vs ‘2nd +’ call cycles available to call?

If it’s poor, your team needs to call more people to secure the same amount of leads vs a good bucket of data. Let’s look at the numbers in a basic example:

1,000 contacts with 50% bad data Vs 1,000 contacts with 25% bad data

In scenario one, your staff may burn 250-500 calls MORE than in scenario two if nobody cleaned out irrelevant titles, customer service numbers, out of region contacts, or perhaps the data is older so contacts are no longer with a company. Depending on the speed of dialing tools, this could be 2-3 days of worthless calling.

What’s worse, a bad number or an irrelevant person?  We think the irrelevant person is 3-5x worse than a bad number!  Why? A bad number will only be called one time, whereas your sales person may attempt to call an irrelevant person 3-5 (or more times) before giving up… which is a huge waste of time.

The bottom line, get your data right BEFORE giving it to sales staff to start calling!