One of the first steps in building a successful demand generation campaign is defining your goals. Setting goals helps you gauge performance, establish benchmarks for future campaigns, and identify areas you can improve going forward.
Here are some tips for setting appropriate and realistic goals for your next demand generation campaign.
Set qualitative goals first.
Many organizations like to set quantitative goals first, even when lead quality has a bigger impact on their bottom line than lead volume. Consider the following scenarios:
- In one week, telemarketers set appointments with several decision makers, all of whom are ready to make a purchase within the next month.
- In one week, telemarketers set appointments with numerous contacts, some of whom are decision makers; some say they “might” make a purchase in the next month; others are “interested.”
Setting the goal of getting a high number of appointments might sound fantastic, but could be an inefficient use of time if none of those appointments results in a sale. Despite the lower lead volume, the first scenario is clearly preferable.
That’s why it’s important to set qualitative goals before you start thinking about lead quantity. If leads aren’t fully qualified, it won’t matter how many you have.
You can set quantitative goals, too.
We can talk about lead quality all day, but that doesn’t change the fact that you have to generate a certain number of leads to stay ahead of the curve! Ultimately, you’ve got to generate a minimum number of leads to enjoy positive ROI from your investment in the campaign
You can start by taking a look back at data from your past campaigns, if that data is available. How many calls did it take, on average, to generate a single qualified lead? Based on that number, how many telemarketers will you need on a campaign to generate the number of leads you desire in a given time period?
Knowing these figures can help you set realistic quantitative goals. It can also help you determine whether it makes the most sense to build your own sales team or outsource your next demand generation campaign to an experienced provider.