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Businesses 'failing to measure' lead generation marketing
07/07/2010
Analytics audits and lead generation tracking highlighted as areas of improvement for B2B marketers' conversion rates.
Many businesses are failing to employ analytics audits in a sophisticated enough way, according to a new report, leaving them unable to accurately measure the success and conversion rates of lead generation campaigns.
Research conducted by the Lenskold Group found that 44 per cent of B2B marketers were only able to utilise metrics in relating to the last marketing 'touchpoint', rather than being able to assess multiple touchpoints.
In addition, 67 per cent of businesses surveyed said that the quantity of leads generated is their primary method of measuring marketing success, while only 53 per cent look at sales conversion rates.
Just 27 per cent use analytics to establish return on investment when monitoring marketing strategies. B2B lead generation marketers using such profitability metrics were found to be more likely to deliver a ten per cent increase in profits from a ten per cent increase in marketing budgets than those that do not.
"There is untapped opportunity for lead generation marketers to improve their effectiveness and efficiency," the report concluded, adding that "better feedback on lead quality and better measurements are necessary to generate high performance and growth".
However, more than a quarter of the marketers questioned said they were prioritising making improvements to the way in which they track lead conversions and 51 per cent said their organisation had worked to improve marketing ROI analysis in the last 12 months.
Research conducted by the Lenskold Group found that 44 per cent of B2B marketers were only able to utilise metrics in relating to the last marketing 'touchpoint', rather than being able to assess multiple touchpoints.
In addition, 67 per cent of businesses surveyed said that the quantity of leads generated is their primary method of measuring marketing success, while only 53 per cent look at sales conversion rates.
Just 27 per cent use analytics to establish return on investment when monitoring marketing strategies. B2B lead generation marketers using such profitability metrics were found to be more likely to deliver a ten per cent increase in profits from a ten per cent increase in marketing budgets than those that do not.
"There is untapped opportunity for lead generation marketers to improve their effectiveness and efficiency," the report concluded, adding that "better feedback on lead quality and better measurements are necessary to generate high performance and growth".
However, more than a quarter of the marketers questioned said they were prioritising making improvements to the way in which they track lead conversions and 51 per cent said their organisation had worked to improve marketing ROI analysis in the last 12 months.