Leads are members of your target audience who are seeking information. More specifically, they are people who want to learn more about your product. They are not fully sold, but with the help of your sales and marketing departments, they can become repeat customers.
Companies often miss out on potential customers due to poor lead tracking efforts. So, let’s look at some lead tracking tips that will help you convert more leads.
But first…
What is lead tracking?
Lead tracking involves monitoring the activity of whatsapp number list prospects as they interact with your brand. Tracking should begin with the first contact and continue throughout the sales process. In a study, 91% of marketers said that generating leads is their most important goal.
Tracking leads can help you categorize potential customers. For example, an inbound lead is someone who has contacted your company. An outbound lead is a customer you have reached out to. These details allow you to build strategies for specific customers. For example, an outbound lead requires more attention from your marketing team, while an inbound lead can be quickly passed on to your sales team.
Tracking leads will also help you determine
the most effective approaches to lead generation. You will see patterns in what works best to convert leads into sales. What works best for you will depend on the demographics of your audience.
With lead tracking, you can also identify the most valuable leads to reach your goal. You can identify leads that are most likely to convert and implement specific strategies to shorten the sales cycle. For example, one of your leads may be another business. In this case, you can find a specific LLC to gather information about their company before attempting to make a sale.
Additionally, lead tracking data can help your sales and marketing operations. This information can help you fine-tune your marketing efforts and target future campaigns—your most effective channels. Lead data also allows you to evaluate the effectiveness of your marketing initiatives.
Five tips to help you track leads
Now that you know why lead tracking is so important, the question is: how exactly can you track leads? Let’s discuss five tips:
Define key performance indicators
Identifying the most relevant key performance indicators (KPIs) is vital. There is a lot of data that you can get from your leads. It can be overwhelming. Once you identify your KPIs, you can select the relevant information that you can use to effectively track leads.
However, here are some key performance indicators that companies should track when monitoring leads:
- Traffic to Lead Ratio: Shows how effective your marketing materials are at converting traffic into leads.
- MQL to SQL Ratio: A Marketing Qualified Lead (MQL) has engaged with your marketing materials but may not be interested in speaking with a sales rep yet. A Sales Qualified Lead (SQL) has expressed interest in your offering and wants to speak with a sales rep. Knowing this ratio will help you gauge how well your marketing team is moving prospects through the sales funnel.
- Time to Conversion Rate: Measures how long it takes for a visitor to move through each stage of the sales funnel. The shorter the time, the
- Monthly recurring revenue per lead, MQL or SQL: This gives you an idea of the quality of your leads, MQLs or SQLs.
Financial metrics are also important KPIs to track. Customer lifetime value (CLV) is used to predict the revenue a customer will earn throughout their life cycle. This allows you to plan your sales and marketing budget and focus on high-value prospects.
This will help you track the cost of your sales how much does a bahrain number database cost? and marketing campaigns. This can be done by calculating the cost per acquisition formula below.
Tracking this metric allows you to predict your ROI. Determining the profitability of your marketing campaigns is important so you know if your lead tracking and other marketing efforts are working.
Identify potential sources of leads
The lead source is the channel that first brought you leads. Knowing russian number list this information allows you to identify tools to monitor your leads.
Let’s look at some potential sources of leads. Organic search traffic is a great place to start. You might think that paid advertising will provide more leads. However, organic search allows you to target keywords that attract highly qualified leads.