To determine what marketing success will look like in the year ahead, we identified the most successful organizations that responded to the research survey. Organizations who rated their marketing efforts as “very effective” are identified as having a superior strategy, while organizations that rated their marketing efforts as “somewhat or very ineffective” are identified as having an inferior strategy. The study shows the large disparity between the objectives, challenges, and tactics of companies with a superior strategy and their inferior strategy counterparts.
This blog post focuses on a key performance metric that is overlooked by inferior strategy companies. The highest percentage of superior strategy companies, 46% of them, chose “increase lead conversion rate” as the most important marketing objective, while only 31% of inferior strategy companies did. Furthermore, only 27% of inferior strategy companies measure the lead conversion rate while 69% of superior strategy companies do.
Measuring website traffic without the conversion rate is not enough to gauge the success of your marketing strategies. The conversion rate is the proportion of visitors to a website who take action beyond viewing the site – this could include an email subscription, membership registration, or an online purchase. Instead of focusing on increasing casual interactions with potential customers, invest time and resources to developing lasting relationships with those website viewers. Superior strategy companies understand the importance of measuring lead conversion for marketing success both today and in the future.