UPDATE for 2014 – Our lead tracking tool Convertable is now open to users. You will finally be able to track your leads from the moment they are submitted through your contact form all the way through to the end of the sale you will be able to finally attribute the true ROI of each traffic source. Follow this exclusive link for free access!
A lot of the work we do on a daily basis involves generating leads for service-based businesses. That is, we drive highly targeted traffic to fill out a contact form on a company’s website requesting their services. It is then up to the company to follow up with the lead and finish the sales process by closing the deal.
Previously, many search engine marketing companies have gotten rich solely off increasing rankings in the search engines without demonstrating any tangible value to their client. However, as more and more companies are becoming aware of search engine marketing, the novelty is wearing off and the days of SEOs charging exorbitant fees for pretty graphs of rankings for obscure and irrelevant keywords are winding down. Nowadays, business owners are demanding proof of a positive return-on-investment.
Thankfully, online marketing (more specifically search engine marketing), is the most highly targeted and most easily tracked form of marketing in the history of the mankind. Never before have we had access to so much detailed data that we could glean so much knowledge of customer behavior at the individual level.
All that being said, there is still plenty of room for improvement when it comes to tracking the quality of online leads and tying an exact dollar amount ROI for each specific lead. For example, we can determine that a specific keyword generated a contact form submission by tracking the Thank You page as a conversion goal in Google Analytics. However, a completed form submission does not automatically translate into revenue since the client must follow up with the prospect to close the deal. While we strive to drive highly targeted traffic and collect as much essential information from the prospect to qualify them before passing them onto the client, there will always be submitted leads that leak through that are not going to convert into business no matter how streamlined the lead generation process. It is our goal to minimize these kinds of leads by focusing only on the highest converting sources of traffic.
And in order to determine which traffic sources generate the most leads that actually convert into sales, we need to be able to bridge the gap between web analytics data and sales data. One option is to attach a Unique Identifier number to each conversion in Google Analytics and manually look up the sources for the leads that converted into sales by searching for the UID in Google Analytics. While this can be effective and may be all a company that only gets five leads a month would require, manually looking up anything more than a handful of leads is quite tedious and thus not very efficient for larger websites.
Good news, you are in luck because we have been working on an exciting new tool to automate your lead tracking tasks for you, which we have called Convertable. We are currently looking for Beta testers, so if you are interested, please head over to Convertable.com, enter in your email address, and we will contact you when we are ready to grant you free access!