As we’ve highlighted on this blog, lead generation is not enough for reliably successful digital marketing. You also need to make sure that a good portion of your leads become qualified – and eventually turn into customers.
Of course, that goal is difficult to accomplish if you don’t know whether your efforts to turn sales qualified leads (SQLs) into customers are actually successful. That’s where benchmarking comes into play.
Through the below 3 step process, you can measure your current sales qualified lead conversion rates and evaluate your success. That, in turn, allows you to turn to one of the many strategies designed to help you improve your conversion rates and maximize the impact of your lead generation and nurturing efforts.
Put simply, benchmarking your conversion rates comes down to three simple steps: taking stock of your current rates, comparing them against industry averages, and setting a goal for improvement. Let’s break each of these steps down in a bit more detail.