Although many brands use cross-channel marketing to increase their chances of engaging with customers across the online world, many do not effectively track which sources generate leads. These businesses might use a variety of strategies because they understand the importance of using different techniques, but they do not have a concrete means of understanding the benefits each one offers their organization.
Brands that do take the time to track this valuable information, however, can easily see the impact. Lead attribution can provide efficiency gains of 15 to 30 percent. In other words, brands that track their leads’ origins can improve their ROI and plan better marketing campaigns.
Instead of spending hundreds, or even thousands, of dollars and only estimating where the funds end up, here are just a few of the reasons to invest in concrete lead tracking with your marketing company.
It is easier to create a business case for advertising spend
Understanding precisely where your leads come from makes it easier for you to build a business case for more funding. For your c-suite or board to willingly allocate more budget towards your advertising strategy, they want to know how the money is spent and the ROI they can expect to see from your efforts.
Working off of your gut feeling or impression provides those in charge of the budget with little information about the success of your efforts. It becomes easy to lose credit for the leads you do bring in, which can result in a decrease in funding and business growth.
Using lead tracking software allows you to gauge exactly how many leads materialize from your ad campaigns. You will see how much money you ended up spending and how many leads each campaign brought in. Tracking these leads through the sales funnel will provide you with concrete data regarding the ROI for your different strategies. This information can then create projections for future campaigns and create a strong case for increasing funding moving forward.
Become better equipped to determine which ads and what content performs the best
As you create a marketing strategy, you want to regularly refine your efforts and improve your performance. To build a more solid strategy, you must firmly understand what performs best. You need to know not only what types of ads customers respond to best, but also the type of content they like to view once they click through the ad. You want to know the CTA (Call-to-Action) that leads to the optimal conversions.
Marketers find the answers to these questions through lead tracking. Lead tracking first allows businesses to see the types of promotions that their customers are the most likely to engage with and click on. This provides data-backed ideas for what customers want to see, and thus allows the brand to improve their marketing strategy.
Once you have the data regarding what customers want to see in advertising, you can build the rest of your campaigns around these ideas. See the types of ads, keywords, and landing pages that perform best. As you get to know your customers even better, you will find it easier to build landing pages that target their unique needs and drive engagement.
This will allow you to use the budget more effectively and improve your ROI, and thus your performance.
Improve your ability to run A/B testing and find the optimal ad form
In addition to using lead tracking to understand the types of ads and content that perform best, lead tracking also makes it easier to perform effective A/B tests and thus understand the ad formats and language that work best.
By creating multiple ads and running them at the same time, you can also see how well each ad performs, thus giving you insight into what customers respond to best.
A/B testing will make it easier to maximize your ad production and funding. You will not waste time funding ads that perform minimally. Instead, each dollar will be stretched to perform as strongly as possible.
By improving your ability to use PPC (Pay-Per-Click) dollars effectively, you will see stronger growth from your efforts and find it easier to secure a bigger budget moving forward.
Without lead tracking, you will not be able to effectively see how many leads come through your PPC campaigns, how well different campaigns perform, and which leads end up progressing all the way through the sales funnel towards conversion.
Improve the ability of different ad strategies to work together
When you have lead tracking in place and you can see how you acquire leads and how they progress towards conversion, it is easier to see what touch-points they hit. You will be able to make better decisions regarding how your different promotional strategies should work together and the types of content customers respond to best at each stage of the buyer’s journey.
This will allow you to create more effective strategies that powerfully impact customer decision-making.
Lead tracking empowers companies to get to know their customers better. They will not use feelings or theories to evaluate their performance and what engages their customers. Instead, they will operate off data-backed strategies that will allow them to maximize their potential. Businesses who employ lead tracking will set themselves up to maximize their success in PPC advertising, as every dollar they spend can be tracked. See the power that lead tracking with your marketing agency can have for your business growth.