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Key Performance Indicators (KPI's) For New Leads

Key Performance Indicators (KPI’s) For New Leads

Background


Key Performance Indicators (KPIs) are vital metrics used to evaluate the effectiveness and success of a business or project. These measurable values provide valuable insights into various aspects of performance, such as productivity, efficiency, and progress towards goals. KPIs serve as benchmarks against which actual performance can be compared, allowing organizations to track performance trends, identify areas for improvement, and make informed decisions. By focusing on the most relevant KPIs, businesses can align their efforts with strategic objectives, optimize resources, and drive continuous improvement across all levels of the organization.


Is It Going Right?


These are the metrics within the first 2 weeks of the lead’s generation you should be shooting for- (If you do everything right).

Sometimes people feel discouraged because every new lead doesn’t buy from them. 

They may even be doing well, but don’t even know it.

You should compare your success to Key Performance Indicators (K.P.I.’s) to evaluate how well you’re doing.


Referrals Vs. New Leads


Please keep in mind that these Key Performance Indicators (K.P.I.’s) are typical for cold outreach, email marketing(The types of leads we generate our clients), paid advertising, or other forms of generating fresh new leads.

You can see these Key Performance Indicators (K.P.I.’s) are much different than inbound leads or referrals. 

With inbound leads, meaning people calling you already interested in your services, or referrals from clients, friends, or family, it’s common to close 20%-40% of everyone reaching out to you. Those are typically few and far between for most small B2B businesses.


Let’s Get Into The Math (Finally)


You should contact all leads within 5 minutes of receiving it, for the easiest time booking them into a call . The longer you wait the more likely the lead does not convert into a book call or customer – or they don’t remember you.

Generally speaking, up to 40% of all new leads generated can convert into a booked phone call within the first 2 weeks. 

Check out our appointment booking article to see the industry standard way of going about it.

(TLDR; A 40% booking rate within 2 weeks will require you to call the leads 9-12+ and leave voicemails. It will also require you to send emails and texts with your calendar link.)

After your hard work booking them into sales calls, up to 70%-75% of all booked phone calls will show up to the sales call. 

Companies have up to a 10%-20% 1 call closing rate for all shown up sales calls. If you close at a lower rate, your offer may not be right, or your target audience may not be right, or something else may be wrong. It may be time to investigate.

Up to 80% of all closed deals requires 5-12+ follow ups. Only 48% of sales reps follow up. If you’re not following up, you’re missing out on big money if you’re just hoping to 1 call close everyone. 

100 new leads = Up to 40 booked sales calls = Up to 30 shown sales calls = Up to 3-6 new customers – Within 2 weeks if everything is done “right”. We want to stress that there’s lots of variables here.

Even if you closed at only a 10% rate and signed up 3 clients, the math typically makes sense, as B2B services have a high Lifetime Value.

If a client is worth $500/month to you, that’s $6,000 a year.

3 Clients X $6,000 = $18,000 of potential income even closing at half the national average.

For 100 sales opportunities, we charge $3,500. 

That’s potentially a 5X ROI closing at only 10%.

If you want to make more money you will have to follow up with your leads that didn’t book, didn’t show, or didn’t buy.

If you want to convert more “new leads” you will have to long term nurture them by calling them, texting them, emailing them,…etc until they book a call. Don’t leave 60% of all of the non-booking leads on the table.


In Summation


Harnessing the power of Key Performance Indicators (KPIs) is essential for businesses aiming to optimize their performance and achieve sustainable growth. By leveraging these metrics to track progress, identify areas for improvement, and align strategies with organizational goals, companies can enhance their efficiency and effectiveness.


Contact Us


For those seeking to generate leads, reach out to our company at www.dfysalescalls.com so we can provide invaluable support and expertise in navigating the complexities of lead generation.