Potential customers make their way through your sales stages and marketing funnel in the hopes that you can provide what they need. Throughout their journey, they decide whether or not your product or service is right for them.
Your marketing efforts pave the way to give customers the push they need to purchase your products or services. Before they make a purchase, though, they are considered leads. You may not think tracking leads is essential. However, it can be one of the most vital monitoring tools you have to help improve your potential-to-customer ratio.
Pinpointing Where Your Business is Coming From
You know your ideal customer. You spent a lot of time making sure you made the most optimal customer persona. But are the people going through your sales stages and purchasing your products or services matching up with that persona you created? Tracking your leads lets you see how potential customers align with your ideal customer.
Knowing this simple yet essential aspect of who does business with you most will help you better understand the audience you should be targeting. Using tracking across the buyer journey, you can tweak your target audience appropriately to garner more business.
Stay On Track by Tracking ROI
Your ROI is critical to track because you want to ensure that any money you spend gains more leads and, thus, customers. Tracking ROI lets you stay on top of where leads come from and how they fit into the big ROI picture. Are you spending 10x what you’re making back on a specific marketing campaign? Likely, the leads you’re generating from that area are not as solid as you’d hoped.
To Spend or Not to Spend Your Marketing Dollars
Every business knows that marketing is a critical aspect of success. Word of mouth can only get you so far, and if you want to have a wider reach, you will have to put some money into your marketing efforts. When doing so, you want to ensure you’re putting the money in the right places.
Tracking ROI and where most of your business is coming from are two steps that help you do this. By knowing your ROI and seeing what kind of consumer you will most likely get a sale with, you will know where to spend your marketing budget.
For example, say you put money into Facebook, Instagram, and TikTok. Suppose Facebook and Instagram bring in most clients, but TikTok has failed to drum up any business. In that case, you may want to simplify your social media efforts in a way that doesn’t include the platform that provides you with little to no results.
Leads are vital because they convert into sales. Tracking leads is even more critical because it gives you the tools to ensure the customer journey ends at a sale. If you want to begin tracking your leads effectively but don’t know where to start, book a strategy session with us today! We can help you formulate a tracking plan that really pays off.