Did you know that with Wicked Reports, you can get a very clear understanding of how long it generally takes your prospects and leads to make their first purchase?
Knowing how long it takes for prospects to turn into customers is a very important metric. Many marketers expect their ads to drive immediate sales from clicks on their Ads. This can lead to disappointing results or a very inaccurate reading of performance.
Sales today could come from many places. You likely send emails, text messages and potentially a variety of other marketing messages to your prospects. Just because a sale happened today, doesn’t mean it’s from an ad click today.
This is especially true for companies with a lead capture focus to their marketing. Knowing the time window with which you should analyze your ad performance is a critical piece to proper analysis. If your leads generally take two weeks to make their first purchase and you are analyzing your new ad campaign based on the results during the first week, you are likely not giving that ad enough time to produce results.
For ensuring the proper analysis window, Wicked Reports will show you how long it generally takes for your prospects to make their first purchase after their First Click or after they became a new lead.
First Click and New Lead Sales Velocity
FAQ
What is Sales Velocity in the context of Wicked Reports?
Sales Velocity is the average time it takes for a prospect or new lead to make their first purchase after their initial interaction (First Click) or after they are captured as a lead.
Why is analyzing my ad performance based on Sales Velocity critical?
If you analyze new ad campaigns over too short a period, you might conclude they are failing when, in reality, your average sales cycle is longer. Sales Velocity ensures you use the proper, profitable analysis window by matching performance to realistic time-to-purchase metrics.
How does Wicked Reports calculate First Click vs. New Lead Sales Velocity?
First Click Velocity measures the time from the very first recorded click on an ad or link to the first purchase. New Lead Velocity measures the time from when a prospect is officially captured as a lead in your system to their first purchase.
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