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Lead tracking is the process of determining where prospects are coming from, what they do when they arrive on your online properties and the best way to engage them so that they can take the next step towards becoming your customers.
Sales lead tracking provides granular insight on the performance of different marketing campaigns, letting you know whether you are getting a strong ROI for your marketing spend. You can use tracking tools to improve your marketing campaign results.
Why Do Sales and Marketing Teams Need Lead Tracking?
Sales and marketing professionals have the critical role of ensuring their company’s revenue objectives are met. Through lead tracking, the two teams can work together to ensure these objectives are met on time and using the available resources.
Tracking leads is not only beneficial for businesses but also for customers. The information gathered by tracking leads gives marketers insight on what is working, which strategies produce lackluster results, and the resource-draining campaigns that are not helping the company’s bottom line.
By implementing lead tracking strategies, sales and marketing departments can gather crucial data about their leads. With this data at their disposal, teams can come up with customized campaigns that will yield higher ROI at lower ad spends.
Benefits of Lead Tracking
Here are some important reasons why you should be tracking sales leads:
1. Improve the Buyer Experience
Sales and marketing departments can use information gathered from lead tracking to reach out to prospects better. For example, information such as name, email address, and phone number, company name, number of employees, social media handles, department, and company roles can enable you to tailor your conversation with prospects better for higher conversation rates.
2. Upgrade Your Marketing Campaigns
Tracking leads is crucial to uncovering the performance of your marketing campaigns. If you are running multiple marketing campaigns simultaneously, it is critical to know how each of them is performing. Lead tracking will help you identify campaigns that produce the highest quality leads.
3. Streamline Your Sales Process
After identifying campaigns yielding the best results, you can plan your onboarding processes and focus more time on turning prospects into customers. When you track leads, both sales and marketing teams can have a centralized database on the marketing initiatives that work best for campaigns initiated, and plan accordingly to increase the chances of closing more sales.
4. Get Insights into Your Lead Generation Process
Lead tracking puts an eagle eye on your entire lead generation business, helping you spot leaks in your sales funnel or weak links in your marketing campaigns.
Lead tracking paints a detailed picture for marketers by telling them which pages are getting more views, which ad banners are getting more clicks, and how many more leads were brought in by their latest marketing campaign.
5. Improve Your ROI
Marketers who use lead tracking can feel assured that they won’t miss out on conversion opportunities because they weren’t engaging leads or following up. They will also get critical insights into their ROI by seeing plainly which marketing campaigns were more successful and brought in more leads.
Lead tracking can be especially effective when used in conjunction with other attribution solutions, such as call tracking, that can give an even better overview of marketing efforts across different channels.