In recent years social selling has been the focus of most company’s sales and marketing strategies. Focusing on building relationships with potential customers through social media platforms was seen as the way to generate the most, and best quality, leads.
But a new way of selling is coming to the forefront: digital selling. It incorporates social selling but adds to it. It’s not just about engaging with people on social media, but also about using digital selling tools to optimize your sales strategy and drive your lead generation opportunities.
One of the most important of these digital selling tools, are those that provide you with data and analytics on your business and customers. It’s becoming more and more obvious that utilising the power of analytics can help to increase your lead generation by showing you what is and isn’t working with your sales and marketing strategies.
Some of the ways that analytics can help you is by giving you insights into:
- Customer behaviours
- Which campaigns have worked best and ended in the most closed sales
- Your own team, what they’re doing well, and where they need improvement
Analyzing data from all of these aspects will help you to predict what kinds of marketing and sales strategies will work in the future and what to avoid doing again.
Insights into customer behaviour
To know how to generate more leads you need to know the ones you already have. It’s well known that personalization is key to getting customers, so you need to know how to tailor your strategies to the kinds of customers you’re looking for. Digital analytics can help you with this.
You already have data on your past customers, so looking at this and finding patterns is pivotal. Your best customers will have a lot in common, even something as simple as location, industry or company size, will all be able to give you an idea of the kinds of lead you should be aiming for.
Once you know the kind of lead you’re looking for, you can tailor your content and the platforms you share your content on to suit them. Tracking who interacts and engages with your content the most will let you know if you have personalized your content enough to get the leads you want.
A CRM tool is important to keep track of prospects and leads. You can see all of the interactions you have had with leads and, again, see if there are any patterns emerging between possible leads and already qualified leads so you know which ones to focus on.
Insights into which campaigns have worked best
You want to know how well your Sales and Marketing campaigns are working, by seeing which ones are getting the most attention, and ending in the most closed sales. It’s easy to look at your website’s analytics and focus on page views and returning customers, but digital selling is much more than that. How did the lead originally get to your website? Through a search engine? Through a social media link or email? Do they regularly interact with content you share?
With digital selling analytics you can answer all of these questions and more. Let’s look at email campaigns for example. If you sent out an email campaign to certain leads, analytics can show you the types of subject lines that are most likely to get opened, which leads opened the email, which links within the email got the most clicks, and which leads went on to become a qualified customers after clicking on these links.
It’s the same with content and links shared on social media. You can see what got the most interaction and click-throughs, and thereby see what kind of content attracts the most suitable leads.
All of this information makes it easier for you to tailor your content in the future so that it attracts the most likely to qualify leads.
Insights into your own team
You need to be able to see how your Sales and Marketing teams are working, not just on their own, but how they affect each other and how they perform together. Sales and Marketing are notorious for not always getting along, so it’s important to keep track of how well the leads from Marketing are doing once they are passed on to be followed up by Sales.
There are certain analytics that can be measured to keep track of this, including:
- How many leads turn to Marketing Qualified Leads (MQLs)
- How many MQLs are turned to Sales Qualified Leads (SQLs)
- How many SQLs become viable opportunities
- How many opportunities become closed sales
All of this data will be able to show you how well both Marketing and Sales are at qualifying and nurturing leads. If one team is having trouble it will show in the data and you will know exactly where you need to help them improve.
Digital Analytics are an important part of your digital selling strategy. Without them you’re just fumbling around in the dark, hoping to find a lead. But by utilizing them you give yourself the light that you need to boost your lead generation efforts.