Elsewhere in this blog, I’ve talked a lot about the importance of metrics. If you don’t measure the performance of your funnel, then you have little chance of understanding how to improve it. Also, when designing any of these creative solutions, you’ll probably want to understand how effective your solution is, and if the investment you’ve made is providing a good return. The key metrics you’ll need are shown in the following figure:
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You’ll want to measure the number of leads that make australia mobile database it to each stage, and the conversion rate that makes it to the next stage. You’ll also be interested in the overall conversion rate of leads from the top of the funnel to closed deals, as well as the average deal size.
The shape of your funnel will likely vary for each different lead source. For example, leads from Facebook ads may not convert well to trials, but those that do convert to trials may have a higher conversion rate to closed deals than normal web traffic, and the deal sizes may be larger. This means you’ll need to track funnel metrics separately by lead source.
These metrics will show you your funnel choke points and help you understand whether your actions to improve funnel flow are working.