When it comes to optimising your lead generation performance our advice is simple: REPORT. REFINE. REPEAT. There is nothing new in this idea. As lead generators - or indeed as marketers of any kind - you should never rest on your laurels. The aim should always be to perfect your process and fine tune your performance. One of the most important ways of doing this is ensuring your Tracking is set up correctly and the results you are getting are accurate. Unfortunately, we see far too many lead generators and systems that are massively underutilising this tool.
REFINE YOUR PROCESS
So, you are spending thousands of pounds across multiple traffic networks generating leads that powers a sales team eager to increase performance and returns, who in turn ask for “more of those leads.” If this is you, congratulations, that’s a great position to be in!
You now need to ask yourself the following questions:
Which leads? From what source? Could that page convert even better? Will it scale if we increase the budget? Do we need to test more creatives?
The only way you can confidently answer these questions is by utilising accurate information about the campaigns you have already ran. Surprisingly, a high proportion of businesses do not track their efforts correctly meaning their answers to these questions are distorted. It is within these small margins of error that huge potential for improvement is being lost ,and what is worse, they are entirely unaware of these losses!
QUESTIONS YOU NEED TO ASK
If you are now at a point where you are running multiple campaigns then you need to be employing tracking software to best manage your leads. There may be several reasons why you have not yet done this:
Does a clear and transparent view of performance reflect the efforts of the team managing each campaign, which in-turn means individual accountability, which will ultimately stifle growth in many areas with the business?
Is there a reluctance to understand the true cost of acquisition or an incorrect view that measuring performance in itself is a costly exercise, a further expense and that spending countless hours working out the costs via complicated spreadsheets is a more optimised way of keeping on top of it?
Or is it just a job you haven't gotten around to doing because it’s more hassle than it's worth?
The reality is that a tracking solution is not only an affordable investment but should be the heartbeat for any business looking to accurately measure results and scale profits. It will make you money.
Accurately measuring campaigns will highlight any leaks you may have within your funnels and also demonstrate areas of strength that can be capitalised upon to add profit to your bottom line.
THE NEXT STEPS
OK, so all of that aside how do we create the Ecosystem so we can track the lead source to sale and accurately produce actionable reports?
1 - Implement real time analytical tracking to record the first visit through to a successful conversion, the tracking will include the lead source / traffic network and typically hold information on the ad creative and, device, timestamp and landing page funnels.
2 - When collecting user data, make sure this is appended to the analytical tracking via a data management solution and pushed correctly into a CRM where outcomes can be collected and shared back.
3 - Create reports based upon the performance of each campaign that can be quickly and easily shared with marketing and sales to determine the ROI and scalable opportunities.
Ensuring these three simple steps are in place is absolutely vital when it comes to boosting results. Ensuring your tracking is set up correctly is absolutely vital when it comes to our initial conceit: REPORT. REFINE. REPEAT!
There are loads of ways to optimise performance and at Databowl we know them all! If you fancy speaking to one of our experts we can run through our tracking functions and offer you some bespoke tips to really make your marketing explode.
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