Sometimes we have customers ask us:
“What sort of conversion lift can I get from Leadforms?”
“How do I measure the impact of Leadforms
The short answer is that it depends on how you’re using Leadforms and what area you’re looking at.
Let’s dive deeper!
The Four Impact Areas to Measure
When it comes to measuring performance, there are four key impact areas where Leadforms Forms will provide a lift.
- Total website conversion rate
- Form conversion rate
- Lead response time
- Lead Quality
Let’s cover all four below in more detail.
1) Total Website Conversion Rate
The majority of our customers tend to deploy Leadforms across their entire site, while usually only excluding the tool from appearing on one or two pages at most — usually just a thank you page.
For this reason, when thinking about a conversion lift, we tend to think in terms of the website as a whole, instead of a single page.
In other-words, we’re talking about the total website conversion rate, instead of the on-page conversion rate.
The average total website conversion rate of Leadforms hovers around 4.09%, with the top 10% highest-performing Leadforms averaging over a +11.28% conversion rate. Considering that the average website converts at 2.35% without Leadforms, a 4.09% conversion rate translates to a 74% increase in leads, simply by installing Leadforms. Meaning that you can effectively more than double your website leads, with no work. Not bad.
2) Form Conversion Rate
When thinking about conversion lift, the second impact area that we must also consider is form conversion rate.
Since Leadforms are designed with powerful conversion best-practices built-in, we tend to see that once someone engages with a Leadform, the form itself drives a higher conversion rate than a generic form.
The average Leadform converts at +53%, and we’ve seen some convert over 70% of visitors into leads.
3) Lead Response Time
The third, often overlooked impact area where Leadforms helps increase conversions is Lead Response Time — how fast you (or your sales team) responds to leads.
Generally speaking, the faster you can respond to a sales lead, the more likely you are to turn the lead into an appointment and then customer. This is why Leadforms are designed to handoff leads straight to your mobile phone or email, so you can follow-up from anywhere.
When measuring the performance of Leadforms, you’ll want to analyze the speed from lead to opportunity. Measure how fast a lead that originates from a Leadform becomes an opportunity, and compare against how long it takes for a lead coming from another source. You’ll find that Leadforms enables you to follow-up faster.
For the majority of our customers, leads from Leadforms are of higher quality. And since the leads are delivered straight to your mobile phone, they convert almost twice as fast as leads from other sources.
4) Lead Quality
Last but not least, you must also consider Leadforms’ impact on lead quality.
That’s because successful inbound lead generation isn’t just about conversions.
It’s about lead quality too.
Would you rather have 10 leads that include only an email or 2 leads consisting of email, phone, name, budget, and every other key piece of info that can help you close the deal?
I’d go for the lead with more details, every single time — hands down.
Leadforms are designed to help you drive better leads into your business. Better quality leads means smarter sales follow-up, which ultimately puts more revenue in your pocket.
So, how do you measure lead quality with Leadforms?
Compare all of the data associated with each lead from Leadforms against lead data that comes from other sources. Chances are you’ll find that Leadforms provides you with more qualified leads that have higher close rates.
How to Measure Performance After Your First Month
Lead generation with Leadforms isn’t just about increasing your landing page conversion rate. It’s about your overall website conversion rate, speed, and the quality of the leads that originate from your Leadforms. That’s because with Leadforms, you’re creating a fast lane for the right leads to get answers and book appointments with your sales team.
For this reason, when analyzing performance of Leadforms, I always recommend considering all four impact areas discussed throughout this post.
If you need help, I’m always here. Feel free to reach out.