14 Mar Do You Understand the Life Cycle of Your Leads? If Not, You need Sales and Lead Tracking Solutions
When it comes to making sales, data is king.
That is to say, the more information you can get regarding your sales and your leads, the better chance your business will stand of creating more sales and getting those clients to come back time and time again.
The problem is that too many companies focus only on generating leads and sales. They pour huge amounts of time and money into getting as many leads and as many sales as they possibly can but they don’t put the same kind of work into finding out where those clients came from or where they went next.
And there are a ton of reasons that this is a big mistake. Read on and we’ll learn why sales and lead tracking solutions are something your business cannot live without…
Introducing: The Life Cycle of a Lead
A lead is a customer that is not yet a customer. However, it is also a lot more complicated than that and if that’s all you look at your lead as, then you are drastically over-simplifying matters.
Actually, there are a number of types of leads and when a new customer finds their way to your website or your advert, they will gradually progress through several different stages.
For instance, you have your cold leads. Cold leads are people who don’t know anything about your business and have never used your service before. What makes these people leads then? Well, they’re leads because they fit your target demographic. This is the precise persona that you’re marketing your products or services to and you have their details. The problem is, they haven’t given you permission to contact them and you need to be very delicate with the way you go about this.
A step up from this is the warm lead. A warm lead is someone who has shown some kind of interest in your company. Perhaps they now follow you on social media. Maybe they joined your mailing list. Perhaps they asked for an information pack about your business.
Qualified leads are better yet. These are people who are close to buying – perhaps they’ve done a search for your product, or perhaps they’ve signed up to learn more about a specific product. You can also further divide qualified leads into ‘marketing qualified’ and ‘sales qualified’.
More Ways to Categorize Your Leads Using Sales and Lead Tracking Solutions
There are more ways you can categorize your leads too. For instance, you can organize them based on the referrer. How did the lead find your business? What sent them to your contact page specifically?
Did they come from a Google ad? Did they see a post you uploaded to social media? Did they read a cold email?
You can also look at other metrics such as engagement. Is this visitor leaving comments on your site? Are they actually reading your content? Or did they bounce as soon as they arrived?
This is where using sales and lead tracking solutions like Lead-IQ.com comes in. This kind of software lets you see precisely where your leads came from and how they’re behaving on your site.
This way, you can start to identify which marketing techniques and adverts are helping you generate the best quality leads. More important, you’ll be able to find out which of your marketing methods are less optimal and should be considered to be cut out or re-optimized.
Do your Facebook or your Google ads bring you the most visitors? More importantly – which of those visitors become qualified leads? Which are most engaged with your content? Which are the most likely to place an order?
Only once you know this can you then choose to invest your money wisely. That way, you’ll be able to ensure maximum ROI – making sales and lead tracking solutions incredibly valuable.
Ultimately, the lesson we need to take home here is that not all leads are made equal. Not only that, but leads change as they become more familiar with your brand, your content and your products/services. It’s not enough to simply track how many people are coming to your site, you need to know precisely where your most valuable leads are coming from. And sales and lead tracking solutions provide the best tools to do that with. Get a 30-day FREE trial today and take Lead-IQ for a test spin.