Beyond Landing Page Conversion: Closed-Loop Analytics

Closed-loop marketing is a form of marketing analysis that relies on data and insights to improve ROI, similar to data-driven marketing. The “closed-loop” part of the name describes how sales and marketing teams work together to report on leads in an endless feedback loop.

In Electronics, the complete path is followed by a signal as it is fed back from the output of a circuit, device, or system to the input and then back to the output. Follow this by comparing the feedback loop.

The landing page didn’t convert. Readability has scored above the 70 mark so what happened, why didn’t the lead convert? 

Let’s take the blue pill and go down the rabbit hole in this attribution matrix.

Knowing the right data within closed-loop analytics, you could begin identifying your lead sources that lead to closed wins.

• Viewing lead and client journeys
• Analyzing closed-lost and closed-win deals
• Implementing and managing email and paid marketing campaigns
• Optimizing sales & business development processes and marketing strategies to attract more leads and send the right messages at the right time to close more deals, adding logos

To gather this data, the following could be examined:

• United customer journey tracking across multiple channels
• ROI attribution and tracking
• Lead source tracking
• Phone call tracking and sourcing
• Unified CRM to house both sales and marketing data
• Data-driven sales process and marketing strategy optimizations
• Content tracking for ROI leads, and conversions

If the CRM platform doesn’t get you the answers to ​​where your leads come from and which messages encourage them to advance through your pipeline and convert, then you need to add custom plugins/coding to make it provide you with that.

Answers to the questions you would need to know:

• What is the average time in the stage between lead and opportunity? 
• What is the percentage of successful passes between each stage?
• What is the average time of a lead on stage?

In closed-loop analytics, several metrics are essential to understand the performance and effectiveness of the system. Some of the key metrics include:

Conversion Rate: It measures the percentage of users who complete a desired action, such as making a purchase or filling out a form. 

The formula to calculate it is (Number of Conversions / Number of Visitors) * 100.

For example, LinkedIn tracks conversion actions taken by users who have seen or clicked on an ad. This could include actions like form fills, purchases, downloads, or other desired actions on the advertiser’s website.

Average Handling Time (AHT): It measures the average time taken by customer support representatives to resolve customer queries or issues. AHT is calculated by dividing the total handling time by the total number of queries.

For example, you could set this up in Salesforce CRM. 

Customer Satisfaction (CSAT): It indicates how happy and satisfied customers are with a product, service, or experience. CSAT can be measured through surveys, ratings, or feedback forms, and the percentage of satisfied respondents is taken as a metric.

Net Promoter Score (NPS): It measures customer loyalty and predicts the likelihood of customers recommending a product or service to others. NPS is obtained by subtracting the percentage of detractors from the percentage of promoters.

These metrics provide valuable insights into various aspects of a closed-loop analytics system. 

United Customer Journey

Having a united customer journey map provides comprehensive analytics for sales teams, allowing them to track and analyze key metrics such as pipeline health, win rates, deal size, and sales rep performance. This helps organizations gain insights into their sales processes and identify areas for improvement.

If a B2B product company, learn to understand which features are used, meeting durations, and participant counts. This helps to identify popular features, areas of improvement, and overall product adoption. Additionally, you would need to understand the call quality, connectivity, and system reliability. This helps to identify and address any issues affecting the user experience. Within your product, you could measure collaboration patterns, such as the frequency and duration of meetings, user engagement, and content sharing. This information helps to understand how teams are using the platform for collaboration and identify areas where improvements can be made.

In order to understand user preferences, identify trends, and improve personalized offerings, you would need to analyze transaction data, including purchase amounts, frequency, and categories, to gain insights into consumer spending habits. 

Analyzing user behavior further brings transparency to time-sensitive behaviors such as the time of transactions, preferred payment methods, or shopping patterns. 

Closed-loop analytics capabilities help businesses gain a holistic view of their sales, service, marketing, and community efforts, driving better decision-making and improved outcomes.

We cover other topics as they relate to attribution in our blogs at cmospike.com. Subscribe now to learn about ROI attribution and tracking as well as:

• Lead source tracking
• Phone call tracking and sourcing
• Unified CRM to house both sales and marketing data
• Marketing strategy optimizations
• Content tracking