Recently I posted a chapter of our eBook on a third-party site. And as usual around week 2 the leads started to roll in. After a few weeks I took all of the leads, created one list and put them into our marketing automation program. I then sent all of these people the second chapter of the eBook as a “thank you” for downloading the first chapter.
As a marketer – I did my job. Right? I mean, I researched the right third party site for the posting. I negotiated a decent cost per lead (CPL). I aggregated the list and then sent them a follow-up email. And I also tracked to see how many people opened the email. Done. Check. Moving on to the next campaign.
Hang on a minute you are saying. Of course I am not done. I need to find out if the campaign was successful, what is the ROI, should I do the campaign again? So many questions looming and usually it takes a lot of time after the campaign finishes before I have the answers to all of the open questions. And sometimes it is hard to even get the answers – especially if you don’t use closed loop marketing.
So what did I really do? I took the leads that I got from the third-party download and ran them through the Leadspace engine. The engine then compared the leads to my ideal buyer persona, which Leadspace created based on a sample of our existing customers, to find how relevant they are to our product offering. Once the comparison was made, all my leads were ranked by individual, company and combo of the two.
Using the ranking, I could easily determine whether or not my campaign was a success. Over 20% of my list had a high combination ranking. Meaning that these leads were the right people and from the right company. There were 12% that were from the right company, but not the right person according to my ideal buyer persona (easy fix, though because again using Leadspace – I can find the right person…).
So that means that over 32% of the leads that I brought in would likely lead to a sale. Of course I will need to nurture these leads and score them over a period of time and then turn them over to sales as soon as they are ready to buy. And once these leads are in my CRM, I will need to track them to close.
In the meantime, though, I can easily deem my campaign a success with over 32% of the leads that I brought in a match to my ideal buyer persona. This also means that I will most likely use that third-party site for my content syndication.