Traditional marketing strategies have been long focusing on lead quantity. The use of a wide number of networks to capture greater leads proves the fact. The ability to captivate higher contacts is the major priority of the lead generation campaigns.
But after BrightTALK cited the importance of lead quality over lead quantity, the traditional view has changed dramatically. The demonstration by B2B marketers has shown a clear preference for making high-quality lead i.e. 68% over high volume leads 55%.
Here, let’s learn about their difference in both theoretical and practical terms.
Definitions of Lead Volume VS Lead Quantity
Obviously, the lead volume is the number of people who view your ads. They are random people who might or might not change into a customer. Here, the lead volume represents the greater number of leads whose conversion into a customer is low.
Lead quality refers to prospective buyers who are attracted on the basis of some specific parameters. These leads are expected to have a clear intent to convert into a customer.
In digital marketing, these individuals or organizations are selected to be “in-market” on the basis of their activities, age, preferences, behaviors, and interactions.
Know the value
Lead quality is measured by the means of lead scoring. The efficiency of lead volume can be calculated in similar ways. This method ranks the prospects on a sale. Each scale represents the value of each lead’s perceived to your organization. Thus, marketers develop an idea about the type of appropriate engagement for each lead.
Marketers often pay for each lead generated by online media. If they do not have value as a customer, the money all goes for nothing. Instead, if they choose a group that could actually convert into a customer, their money goes in the right place. Even if the purchase is not immediately built, the brand value is developed within the target community.
One can measure the success of lead generation effort by Return On Investment (ROI). Higher ROI on marketing indicated that you are getting the product within the effective people.
How to get Quality Lead?
The most important asset for marketing is user data. You can use the email or social media id for the quality lead generation. Another idea of collecting information is by tracking visitor’s behavior on your website. Some activities to pay attention include:
- The topic they look for or the types of pages they visit
- The time they spent on each page
- How they got directed to the page (via search engines, Facebook, Instagram, any other social media)
- If they got their buy-in by signing-up the form on your landing page
The verdict is- Lead Volume VS Lead Quantity goes hand by hand. Lead quality can be a measure of a flourishing lead generation campaign. But lead volume is equally important for brand promotion and future sales. The sales tend to care on conversion rates (meaning lead quantity) while marketing focuses on generating more leads.