When setting your lead generation and inbound goals, you should consider the fact that they need to be aligned with your business & overall marketing goals and efforts. So when you’re working on achieving them the process doesn’t overload the system you have in place.
In this article, you’ll learn how to set up your next lead generation goals that are aligned with your overall marketing and business goals and efforts. The type of goals that you can clearly communicate to your team.
I’ll give you an example of a fictional company to grasp the full idea of how to set those goals. So imagine you’re now the founder of Mega SaaS.
Background of Mega SaaS stats
Mega SaaS has been growing over the past few years helping hospitality businesses systemize their entire operation in one centralized solution.
- You have been striking an average of $25k per deal.
- 3% of their visitors fill out a demo form.
- 80% of those who fill out a demo form book a demo call.
- 90% of those who attend a demo call are interested in a proposal.
- You’ve been closing 60% of your sent proposals
- You made $30M last year
- You have a retention rate of 90%
So with those stats, you are looking to set your lead gen goals that’ll help you further grow next year and maintain running Mega SaaS in the green.
The data you’ll need to have before moving on
In order for you to always have the ability to fine-tune your goals and keep track of how you’re making money, you need to have sufficient tracking mechanisms set in place. So having an analytics tool, CRM, and past data of marketing campaigns is necessary for the growth of your business.
Ideally, for this approach to work, a company needs to have good tracking mechanisms in place. This means you have to have both accurate analytics and a CRM that’s kept up to date.
There are plenty of tracking tools out there that’ll help you understand your website’s metrics such as Google Analytics, Zoho CRM, or Pipedrive. And then once you get those metrics, get the data about how many proposals you send per year, how many deals you close out of those sent proposals, and what’s the average deal fee.
The thinking process
There are multiple goals that you need to define for you to have an aligned objective throughout your company. This will help make sure that your teams are working in harmony without any conflict of interest. So here are the different types of goals that you'll need to set and define when setting your overall lead gen goals.
Your big picture goal: Overall Business Goal
This is your Big Picture goal. It what all teams are working to achieve and usually the marketing team is leading this goal. For example, you as a Founder could set a goal of an increased revenue of 18%. This goal is set to make sure that your company, Mega SaaS, is operating in the green and that you’re making enough profit to grow.
Your sales goals: the bottom line of next year
Since you’ve set a growth rate goal of 18%, you’re seeking to increase your revenue from $30M to $35.4M this year. An increase of $5.4M is what you need to maintain your operation comfortably. So with a 90% retention rate, you’ve lost 120 leads, which you need to add to the pipeline, plus 216 new clients. So a total of around 340 clients is what you need to hit.
Your funnel conversions: Marketing metrics
Now you’ve set your targets and revenue goals. So the marketing team now should figure out how they should approach their marketing funnel.
Given the information mentioned in the company background, they can figure out how many visitors they need to send to the website for them to hit those goals.
So let’s make sense of the numbers
After setting your goals, you need to clearly understand them, so you'll be able to communicate them clearly to your team.
Your ultimate goal is to get an extra $5.4M in revenue compared to last year. That $5.4M will be achieved by onboarding 340 new clients, which includes 120 clients that compensate for the 10% loss and 220 additional new clients.
Your bottom of the funnel is currently closing at 60%. This means you need to send out around 570 proposals, which is 340/60% (Closing rate)
With that in mind, 90% of your prospects who had a demo call are interested in a proposal. This means you need around 635 demo calls this year, which is 570/.90% (Interested in proposal rate)
One layer above is the demos booked. Since only 80% of those who fill out the demo form book the demo call, then we’ll need to get 795 submitted forms, which is 635/80% (Booked call rate)
And finally, to get those 795 filled forms, your need to attract at least 26,500 additional unique visitors to the website, which is 795/3% (Filled form rate)
So all of these boil down to the following targets for this year:
- You need to increase your unique website traffic by 26,500 additional visitors,
- You need to get 795 form fill submissions,
- You need to have 635 demo calls,
- Finally, you need to send out 570 proposals
If you want to break them down monthly, just divide them by 12, and you’ll get your monthly targets. However, we prefer measuring data over a larger period because some months perform better than others.
So here you have it, all of your targets are right in front of you and can be easily conveyed to the rest of the team, eliminating any guesswork ✌️. So all that is left is to stick to them and check by the end of each month how you’re performing to know what’s working and what’s not working.
If you are currently struggling to get results out of your SaaS website and looking for a team that takes care of that for you, or you want to learn how we help our clients get the results they are looking for with strategy-backed websites, let’s strike a conversation over a call to learn more about your goals.