How do you know where your leads are coming from? For most small businesses, especially now, making sure you're spending your marketing money wisely is a top priority.
But when you're marketing from different channels how do you know where your leads are coming from? Did they find you on Google? Did they click on a Facebook Ad? Did they see a postcard you sent in the mail?
If you want to make sure you're spending your marketing money wisely you have to track where your leads are coming from. To find out how to do that keep watching.
What NOT TO DO
When it comes to tracking leads or your marketing in general, the worst thing you can do is absolutely nothing.
One of my firmest beliefs, and a guiding principle in my marketing approach, is that data-driven decisions are the best decisions.
If you don't track your marketing you won't know what's working and what's not. And that means you won't know where you should spend your marketing money. And that will make YOU every door-to-door salesman's dream come true.
When someone knocks on your door and asks, "Do you want to buy a radio ad? How about a billboard? What about TikTok ads?" You're going to be so much more likely to say "yes," because it seems as likely to work as anything else.
Tracking your leads will help you identify which marketing channels are producing the best results so you can invest your marketing money wisely. So how do you actually do lead tracking?
How to do lead tracking
First, you need to know what to track. I suggest four main things:
- Who are they? - Make sure you have contact information for all of your leads
- Source that generated the lead- Did they search on Google? Click on an email?
- Status of the lead - Are they qualified? Were you able to close the sale?
- Dollar value of the lead - If they became a customer, what was that sale worth?
When you're first starting out with lead tracking you can do this with an old-fashioned spreadsheet. Simply track every lead as they come in and ask them, "How did you hear about us?"
While this is a good start, this method isn't terribly accurate. Most people don't remember how they found you. So if you want a more accurate way to track your leads you're going to want a tracking software tool to help.
Lead Tracking Software
Here's the lead tracking software that we use that's been really successful for our customers. It can track leads from form fills, phone calls, chats, and more.
As you can see, it logs each lead and shows you the type — whether it's a phone call or a form fill — as well as the Source and Medium — whether it came from a Google organic search, paid search, or even a direct visit to your website. It even tells you the page on your website they were on when they contacted you.
One of the most useful features of this platform is that you can set whether or not the lead is quotable, meaning qualified. You can even assign a dollar value to sales. That way, you can tell which sources are generating the best leads and making you the most money. Tracking your leads like this will tell you what's working, and where you should invest your marketing budget.
Lead Tracking Example
For example, one of my clients was using both an SEO and a Google Ads campaign to drive people to their website.
So we spent a year tracking their leads in that dashboard you just saw. And at the end of that year we sat down and we were able to determine that SEO was driving them more leads that were quoted for higher values and converted to sales far more often.
So with that kind of data, we were able to make the decision to take the money from the less effective marketing channel — Google Ads — and put it into the more effective marketing channel — SEO. This improved both their lead generation and their sales revenue.
If you want to know where your leads are coming from we can help you implement this tracking tool. At only $100 a month, it's both easy and affordable. Just give us a call or contact us on our website get started.
Or, if you have more questions about lead tracking or any other marketing topic, join me next week for a live Ask Me Anything session. Just click the link below for more details.
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