Marketers have been using "lead generation" (the process of creating new contacts for the sales team) as a marketing metric for decades. However, even as marketing has shifted to digital and analytics systems have been able to capture more complex data and insights, far too many companies are using legacy ways to measure their performance.
The problem with lead goals is that it focuses too heavily on the top of the funnel, weighing too much towards quantity. This causes misaligned goals with sales, marketing being seen as a cost center, and media teams optimizing for cost per lead rather than true business growth. Once you consider this, it’s not surprising that 99% of leads never convert into customers, according to Forrester.
If your intention is to grow your business, shouldn’t you want to focus on generating customers and revenue, not leads?
The solution is pipeline marketing. Pipeline marketing is the next evolution of lead generation that focuses on connecting marketing and sales data to enable decision making and goals based on revenue.
Pipeline marketing is inclusive of all channels and campaigns. Pipeline marketing is what you’re doing while content marketing, inbound marketing, lead nurturing, and growth hacking are how you do it.
Once a company has fully adopted the pipeline marketing mentality, it opens up new opportunities. At Bizible the marketing team does not carry a lead goal. We only measure marketing success by closed revenue, therefore making decisions based on what will bring the most money, even if it generates lower amount of leads or opportunities.