How predictive analytics is reinventing the art of lead generation

One of the biggest challenges all businesses struggle with is attracting high-quality leads. A poor lead conversion rate will cost a company a lot of money in fruitless marketing efforts and missed opportunities to generate sales from actual paying customers. Russell Ruffino is a renowned small business coach that founded Clients on Demand. Ruffino says that failing to attract new leads and not converting the existing ones are two of the biggest mistakes businesses make. “If you don’t know how to convert leads into clients consistently, you sell from your heels,” says Russell Ruffino. “You discount your services which kills your margins.” Smart business owners recognize that predictive analytics is the key to increasing conversion rates and generating more revenue from quality leads. A number of data scientists have developed tools to assist companies with their lead generation strategies. Can predictive analytics really improve the average value of your leads? According to WordStream, The average website conversion rate across all industries 2.35%. Conversion rate data from offline marketing strategies doesn’t seem to be available, but is presumably lower than online, inbound marketing strategies. However, savvy marketers can easily generate conversion rates that are five times this figure.