Do you know what your leads goal is? Or does your company have a leads goal?
Or perhaps you have one, but it’s not a goal as much as a shot in the dark?
Done correctly, marketing will drive leads to your sales department. It’s a lot harder to reach your revenue goals for the quarter and the year when they aren't based on math. That's why it's so essential to make monthly goals for visitors, leads, and customers based on your business’ growth goals and cold, hard numbers – not blind shots in the dark.
The good news? We've written this article to show you how you can make setting business goals as simple as possible. Even better, we’ve created a free downloadable excel template for you to use.
Just input a few quick data points, and this template will calculate all the math for you. You’ll be well on your way to knowing exactly how much website traffic needs to convert into leads, and in turn, into customers for your company to meet its growth goals.
How to Calculate Your Monthly Inbound Traffic and Leads Goals
Step 1: Enter Your Monthly Revenue Goal
Take your monthly revenue goal, or how much new monthly revenue your sales team needs to bring in, and enter it into the spreadsheet.
Step 2: Enter Your Percentage of New Revenue Driven from Marketing
Here, you’ll need to enter how much of your revenue goal will need to come from marketing. So, if you are only generating leads with digital marketing, you should input 100%.
Step 3: Enter Your Average Revenue per Client
Now, put your average revenue generated per customer. A simple way to calculate this (if you don’t know it) is by taking your total revenue collected over the past 12 months and dividing it by the number of customers you have.
Step 4: Enter Your Lead-to-Customer-Conversion Rate
Take your current lead-to-customer conversion rate to determine how many leads you will need to get those customers. To calculate this, take the new customers you acquire each month and divide it by the number of new leads you generate per month.
You can also enter a goal here if you are trying to improve your lead conversion rate.
Step 5: Enter Your Visitor-to-Lead Conversion Rate
Finally, all you have left to enter is how much site traffic you’ll need to acquire the number of leads you need. To calculate, simply take the number of leads you generated last month and divide it by the amount of visitors that went to your website.
Not too difficult, huh? If you're ready to see how inbound marketing can help you meet and track your company’s growth goals for next month, download this customizable spreadsheet now!