Table of contents:
- Why You Need to Set KPIs for Your LinkedIn Lead Generation Campaigns
- Types of LinkedIn Campaigns and Sample Goals
- How to Set Campaign Goals
- 7 Most Important Linkedin Lead Generation KPIs
- 5 Factors That Impact Your Linkedin Campaign Goals
- How Can Outreachly Help You to Improve LinkedIn Lead Generation KPIs?
LinkedIn has been pushing its lead generation potential in recent years. From sponsored content to its paid ads, it’s evident that LinkedIn is doubling down on its potential as an effective B2B marketing channel. We can spot this from the fact that 80% of B2B leads come from Linkedin, while 97% of a business’s social media leads also come from LinkedIn.
As such, the importance of keeping an eye on essential LinkedIn lead gen metrics to boost your campaign cannot be overstated. Unfortunately, there are so many potential performance indicators to keep track of. This means that any given LinkedIn KPI will almost certainly require context before you can trust its value as an accurate indicator of your performance.
If you’re not sure what lead generation KPI to monitor, keep reading! We narrowed it down to these seven essential LinkedIn generation KPIs to track for a successful LinkedIn lead generation campaign.
Why You Need to Set KPIs for Your LinkedIn Lead Generation Campaigns
KPIs, or key performance indicators, are key metrics that help you evaluate your lead generation efforts. They allow you to track and monitor your campaigns so that you can make any changes if they’re not meeting your targets. KPIs are used across all industries, and they’re particularly important in lead generation.
So, why do you need to set a LinkedIn KPI for your lead generation?
- To learn more about your lead gen campaigns – Setting up a lead generation KPI allows you to track the performance of your lead gen campaigns. Metrics such as conversion rates, retention rates, sales, and ROI provide a detailed overview of your campaign. This comes in handy when making necessary changes to improve your lead gen campaigns.
- To compare your other lead generation campaigns and find out which works best – Are you running several types of lead generation campaigns, such as Google AdWords and Facebook ad campaigns, alongside your LinkedIn lead gen campaign?
Setting up your KPI for lead generation allows you to compare the performance of these different lead generation campaigns and see which ones are performing better than others. This can help you decide where to focus your efforts in the future.
- To identify areas for improvement in your LinkedIn marketing strategy – Every LinkedIn KPI hovers above a crucial element of your campaign; converted leads, website traffic, ROI, cost per lead, and churn rates. With this information, it’s easy to spot thriving activities. It’s even easier to identify areas of weakness and create solutions to address them.
- To track your competition – If you’re in fierce competition against other companies for the same leads, you’ll want to know how your competitors are performing. Your lead generation KPIs should help you figure out what they’re doing right and implement those same strategies in your own marketing campaigns.
In this case, you would compare the competitor’s KPIs against your own performance indicators to see where there is an opportunity for improvement.
A good set of KPIs will help you monitor your lead gen campaign so that you can see when something needs fixing.
Types of LinkedIn Campaigns and Sample Goals
LinkedIn serves several functions as a lead generation and marketing channel. You can target users based on their job title, company, or other demographics, which makes it a great tool for B2B companies. You can also create and schedule posts, write blog posts on LinkedIn, and share other people’s blog posts.
Based on these activities, here are a few samples of campaigns and goals you might already be familiar with:
- Product promotion campaigns – Product promotion campaigns are aimed at driving sales. A sample goal and its KPI for lead generation in a product promotion campaign could be to boost the product page visits by 30% in one month.
- Content marketing campaigns – Content marketing is about producing and distributing valuable, relevant, and useful content to the target audience with the intention of driving measurable business results. In this case, a sample goal would be to generate more content shares, comments, reactions, etc. (See a more detailed list of post analytics for your content).
- Brand awareness campaigns – Brand awareness is a customer’s ability to recall your brand name, logo, and other identifying characteristics. Sample goal: to increase profile views by 75%.
- Lead generation campaigns – Rather than waiting for leads to come to them, sales reps can proactively seek out potential customers and generate their own lead lists using lead generation campaigns. A sample goal, in this case, would be to increase the total number of conversions, i.e., premium content subscribers by 120%.
Pro Tip: Keep your goals specific and measurable. For example, don’t just say “boost profile views.” Instead, you want to be a little bit more specific, e.g., “boost profile views by 120%.
How to Set Campaign Goals
Having the right goals sets the foundation for the success of your lead generation campaign. Without clear objectives, there’s no way to measure success or failure and tweak your approach accordingly. Your sales team needs to invest time in setting S.M.A.R.T goals and align them with your company’s objectives.
Define Your Sales and Marketing Objectives
The first step to setting goals is to define the objectives you want to achieve with your campaign. These objectives can vary depending on your business and industry. Here are a few examples:
- Increase sales: This is the classic campaign objective. Do you want to increase sales of physical goods, memberships, subscriptions, etc.?
- Acquire new customers: Customer acquisition means driving potential customers to your store. Or, it could be getting existing customers to buy again.
- Expand reach: You may also want to set an objective to expand your reach or increase your exposure. You can achieve this by driving traffic to your website, getting your content shared, or increasing your social media following.
Decide on a Target Audience
The audience you focus on will impact:
- Which channels you’ll use
- What KPI for lead generation you’ll monitor
- The types of content you create, and
- What message you’ll include in your marketing campaign.
If you want to drive sales, for example, you’ll want to focus on a target audience of people who are most likely to buy from you.
If you want to acquire new customers, you’ll want to focus on a target audience of people who aren’t yet decided on buying from you.
Choose the Right Channels for Your Campaign
Have you identified which marketing channels would be most appropriate to your target audience, objectives, and sales & marketing budget?
For example, if you want to drive sales and have a target audience of young B2B professionals, you might focus on digital marketing channels that are popular with this group, such as:
- Social media
- Paid search
- Content marketing.
Timing is Key
Now that you’ve chosen the right channels for your marketing campaign and decided on a target audience, set the time frame for your campaign.
For example, if you want to drive sales, you may set a goal to achieve a certain revenue amount within a specific timeframe, such as doubling your sales in 6 months.
If you want to acquire new customers, you might set a goal to increase the number of new customers by a certain percentage within a specific timeframe, such as increasing new customers by 25% within 6 months.
Determine How You’ll Measure Success
As you commit to measurable outcomes, you also need to determine how you’ll measure success. How will you track your progress and make sure you’re making the right moves to hit your goals?
For example, if you want to drive sales, you might want to track conversion rates and sales numbers.
If you want to add new customers to your sales pipeline, you might want to track how many new leads and sign-ups you get from LinkedIn.
If you want to expand your reach, you might want to track how many impressions your content is getting, how often it’s being shared, and how many new followers you’re gaining on social media.
Be Realistic and Flexible
Finally, be realistic with your goals. You want to set goals that are challenging but attainable. It’s important to acknowledge that some goals may need more time or effort than others.