The 5 Steps To Increased Lead Profitability
If lead generation is the most important step in your business process then lead tracking is a close number two. If you don't properly track your leads, you run the risk of wasting all the effort you put into generating the lead in the first place. This doesn't simply apply to the leads you generate yourself, but the ones you buy from a third party as well. If you're acquiring leads, you should know exactly where they're coming from. Although its easy to overlook, lead tracking software gives you all the information necessary to make the informed business decisions that facilitate success. However, none of this is possible without the right tools. Online lead tracking software presents you with opportunities and sets in motion a chain of events that allows you to increase lead profitability and, ultimately, increase your revenue.
1. Increase Transparency
The most direct benefit of online lead tracking software is its ability to make all of your inbound traffic transparent. This allows you to see where the traffic landed, at what time, through which mediums and, in the case of 3rd party purchases, from which buyer. Online lead tracking software software gives you the data you need to make more informed marketing decisions in the future.
2. Drill Down To Specific Sources
As explained above, the transparency provided by online lead tracking software gives you the ability to drill down by each specific traffic source. This includes both your internal marketing activity as well as any 3rd party vendor or affiliate that is providing you leads. By drilling down and getting a better view of each of your incoming leads, you can get a statistical representation of your lead performance from each individual source. This then gives you the ability to tweak your campaigns or lead cost/bids accordingly.
3. Customize Lead Nurturing Campaigns
As alluded to in the step above, online lead tracking software allows you and your buyers to develop customized lead nurturing campaigns that provide a higher chance of closing the deal. Getting the lead is important, but it's just as important to know exactly how the lead was acquired, at what time and for the request of what product or service. By knowing this, the final owner of the lead can build better lead nurturing strategies that promote more sales.
4. Increase Lead Quality
The next obvious piece in this chain of events is an increase in lead quality. All of the data your software arranges and all the analysis you put in shouldn't be for nothing. The data points explained above and the respective actions you take allow you to weed out bad lead sources and streamline your efforts to produce better leads. When you increase your lead quality, that can only mean one thing...
5. Increase Profitability
That's right, we have arrived. As your lead quality increases, conversion rates increase as well. The more closes your buyers make from leads you provided, the more leads they are going to buy from you and there you have it: increased profitability. But as you know, the cycle is never really over. The next step: getting more leads. And the cycle repeats again.
boberdoo is a leading provider of lead distribution software. The boberdoo system tracks each incoming lead and routes and bills for each accordingly. The boberdoo system's advanced tracking features allow you to build custom filters based on the lead source, which then allows you to optimize your revenue for each and every lead. If you would like to learn more about the boberdoo system and our online lead tracking software, please give us a call at 800-776-5646 or click the red Contact Us tab.