Thursday, September 11, 2008

Lead Analytics: Making Lead Performance Analysis Work for You

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When you are looking for positive results for your business, chances are you will want to figure out what needs to be done to make things work better. This is where analytics comes in. You will need to analyze the many angles of your business and what avenues need to be improved upon, removed or changed. With lead analytics, you are essentially analyzing the performance of the leads you have and how these leads are being handled by your sales force or team. Knowing how these leads act and how these leads are being taken care of by certain members of your staff will show you where you may need to change things up or what kind of client usually works best with your kind of business.

Lead analytics and lead performance evaluations will get you the kind of data you need for creating the kind of marketing strategy your company can work well with. You can find out how your people handle the leads that they get and what they did to produce positive results with these leads. You can also see where members of your team may have lost certain leads. This is where you can remedy the problem, with new marketing strategies or retraining. You can also use this information to restructure your teams. This means that you can put one strong mover in a team that needs guidance so that they will learn how this strong team member handles such leads and produces positive results for the company. This kind of a strategy is ideal for those who have numerous agents who do not know yet how to effectively handle the leads that they are given.

How you determine where your team may have succeeded or gone astray with the use of lead analytics is through the monitoring of the track that the lead took from acquisition to billing. When a lead is lost somewhere in between, you will see with analytics where it was lost and then you can determine why such a lead was lost and who lost it. This can be done with the use of lead management software that tracks the movement of your leads and helps you analyze the effectiveness of your marketing strategies and plans.

Aside from using your lead analytics and lead performance trackers to ascertain agent performance and marketing performance, you can also use lead analytics to help you assess how well your products and services are doing. Customer satisfaction often translates to customer retention and returns, so if your leads come back to your company for more of your products or more of your services, this means that you are meeting their needs. You can also use lead analytics to test out new services and new products, although you may need to be careful that you analyze the data correctly. You might be getting positive results from the lead analysis you are getting simply because your marketing team and strategy is working real well. You may need to analyze a few months worth of data to come up with a conclusive result for your new product analysis.

Lead analytics is indeed a very useful tool not only to find out where your team needs to improve or whether your products and services are working well for customers, but this analysis can also help with discerning the overall standing of your business. You can create new strategies, figure out where you need to improve and what you need to do to keep customers satisfied. All of these actions translate to a better business that keeps clients from going to other companies for the services and products you offer and with lead analytics and lead performance analysis, you can do just that.

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