Table of Contents
In this article, we’ll guide you through the process of optimizing your lead generation funnel so that you can generate more high-quality leads with the same amount of time and/or money.
Step 1: Set Realistic Expectations
The first step in optimizing your lead generation funnel is to set realistic expectations. Optimizing a funnel is not as simple as just changing some stuff and seeing how it does. It requires a systematic approach to create long-term systems and processes for optimizing your funnels.
Start by asking yourself how much time your team can dedicate to testing and optimization and how many monthly tests you want to run. These questions will depend largely on the number of people on your team.
Step 2: Collect Critical Data
Before you start testing, you need to know what you’re going to test, why you’re going to test it, and the results you hope to achieve. Look at each part of your lead generation funnel and identify the following metrics:
- Conversion Rate
- Unsubscribe Rate
- Spam Complaint Rate
- Cost Per Lead
- Drop-Off Points
- Lead-To-Customer Conversion Rate
Once you have these metrics, you’ll have a good idea of what you want to optimize.
Step 3: Gather Scrollmaps and Clickmaps
Scroll maps and heat maps of your pages will give you a general idea of how people engage with your funnel. Scroll maps show you where people are scrolling on a single page and where they’re not scrolling (i.e., where they start to lose interest). Heat maps show you where people do and don’t click. These will give you a better idea of why something isn’t working.
Step 4: Create a Hypothesis
Use your marketing expertise and decide what you’re going to optimize and how you will try to optimize it. First, figure out if you’re focusing on quality or quantity.
Lead Quality – If your lead-to-customer conversion rate is low and your unsubscribe rate is high, there’s a good chance that your funnel will generate low-quality leads.
Lead Quantity – Assuming that your lead quality is good, it’s always good to try increasing the number of leads you’re generating.
Step 5: Create an A/B Test
Set a goal for what result you’re trying to achieve with the change. You should know which metric you’re trying to improve and what a winner or loser will look like at the end of the test.
Here are a few things to keep in mind:
- Statistical Significance – You’ll need to ensure that your results are statistically significant before making a final call.
- Random Variables – To avoid unclear results, ensure all other variables (except for the change you made) stay as consistent as possible.
- Set a budget and timeline for the test – How much money will you spend on this test before you call it quits (in the all-too-common case that you get inconclusive results)? How much time are you willing to give it?
Step 6: Give It Time
If you’re going to get results that mean something, then it will take a bit of time (unless you have a big budget and drive a lot of traffic daily). So be patient.
Don’t announce a winner or loser when it’s still too early to call. But also, don’t go over your predetermined budget or timeline, even if the results are inconclusive.
Step 7: Keep Testing
That’s the process. Some of your tests will yield exciting results, and you’ll learn a new trick for increasing the conversion rate or the quality of leads your lead generation funnel is driving. Other tests won’t be very exciting; they’ll yield inconclusive results that you can’t reliably pull any meaningful information. That is all part of the process.
The important thing is that you keep testing, learning, and optimizing. The more you do, the more you’ll improve the quantity and quality of your lead generation efforts.
To learn more about lead generation funnel optimization, visit funnelpreneurs.com.