Additionally, lead tracking data can inform your sales and marketing operations. The information can optimize marketing efforts and guide future campaigns - the most efficient channels. Lead source data also allows you to evaluate the effectiveness of your marketing efforts.
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 talk about five tips:
Identify KPIs
Identifying the most relevant Key Performance Indicators (KPIs) is crucial. There is a lot of data you can generate from your contacts. This can be overwhelming. When you identify your KPIs, you can select the relevant information that you can use for effective lead tracking.
That said, here are some key KPIs that businesses should monitor when tracking leads:
Traffic to Lead Ratio: Measure how effectively your marketing materials convert traffic into leads.
MQL-SQL Ratio: A marketing qualified lead (MQL) has engaged with your marketing high school coaches email list materials but may not yet be interested in speaking with a sales representative. A sales qualified lead (SQL) expresses interest in your offering and wants to speak with a sales representative. Knowing this ratio helps you gauge how well your marketing team is moving leads through the sales funnel.
Conversion Time Ratio: Measures the time it takes a visitor to go through each stage of the sales pipeline. The shorter the time
Monthly Recurring Revenue per Lead, MQL or SQL: This gives you an idea of the quality of your leads, MQL or SQL.
Customer Lifetime Value (CLV) is used to project the revenue a customer will generate during their lifetime. This allows you to plan your sales and marketing budget and focus on high-value leads.