The Importance of Monitoring Leads
Every business wants leads coming in, and in this difficult economic climate it can be easy for the average business owner to just be happy to have sales leads and not worry about where they’re coming from. This can be expensive, because you are spending money on marketing to generate leads but you don’t know where they are coming from therefore you don’t know which marketing spend is generating these leads and where you are potentially wasting money.
Monitoring where your leads are coming from is surprisingly easy, and no matter how big or small your business is you can find an affordable way to track your leads and sales. Many web analytics packages are free or very inexpensive; Google Analytics is a free website analytics package frequently used with over 15.5 million websites making use of the package in 2012, including 60% of the top 10,000 websites. Web analytics enables you to track an online customer’s progress and if they progress to a sale. If you also supply a telephone number where potential customers can contact you or buy via phone, there are a variety of call tracking software packages that will enable you to see where your phone leads and conversions are coming from. You can also use customer and staff feedback if you sell through other channels; getting an idea of where you were found and what drove them to contact you from face to face contact.
You may be surprised at the results. You could be spending 25% of your marketing budget on PPC advertising, and by tracking your leads and sales you might find that this spend is producing no results. This means you are literally throwing money away; it would be like spending a quarter of your grocery budget on empty carrier bags. Whilst you may be getting the right number of leads to meet your targets, if certain campaigns are not delivering results you are still wasting a large chunk of money on nothing. This money could be spent on more successful advertising or even in other areas of the business such as new equipment or extra staff.
Do not waste money: by introducing an integrated lead and sale monitoring system, you can ensure that you only spend money on the most effective marketing, and cut inefficient marketing spend.