How To Keep Track of Your Leads

Posted by David Chism | Wed, Mar 9, 2011

 How To Keep Track of Your Leads
I recent­ly was asked by a con­trac­tor how he could keep bet­ter track of his leads. He said he was frus­trat­ed to not real­ly know where his leads were com­ing from and did­n’t know where to start. Keep­ing track of your leads is one of the most impor­tant deci­sions you can make in your busi­ness. Track­ing your leads helps you make bet­ter mar­ket­ing deci­sions on where to place your mar­ket­ing dol­lars and where to spend more time prospect­ing or net­work­ing. Here are a few quick tips to help you get start­ed. For of all, I rec­om­mend keep­ing a dig­i­tal copy of your leads, not a notepad. If you use a notepad, make sure you trans­fer your leads into your com­put­er so you can eas­i­ly run reports in the future. 
  1. Dig­i­tal Track­ing: Use a Google Spread­sheet, MS Excel or a Cus­tomer Rela­tion­ship Man­age­ment (CRM) pro­gram to track your leads. When choos­ing a CRM to use for your busi­ness, make sure the lead track­ing and report­ing are strong features.
  2. Track the Source: Track your leads based on the Source (i.e. Cus­tomer Refer­ral, Web­site, Door Hang­er, BNI Meet­ing, etc.)
  3. Track the Dol­lars Spent: Track the esti­mat­ed dol­lar amount for each bid you do: Won and Lost. This is cru­cial. If you get 35% of your leads from your direct mail efforts but only close 10% of those leads (and the job sizes are small) this will trig­ger a reac­tion. You’ll have to make some changes to how much time and mon­ey you spend on direct mail.
  4. Report­ing: Run sev­er­al reports on a month­ly basis and eval­u­ate your mar­ket­ing efforts. I have a client who can run a 10 year report on his radio cam­paigns. He can tell me how many leads he received, how many jobs sold, and the dol­lar amount of jobs sold and lost. He can also run reports that tell us what years and months were the best for his radio adver­tis­ing. After review­ing the reports togeth­er we can make an informed deci­sion on whether we’ll con­tin­ue adver­tis­ing on the radio. So far, it has been worth it!
  5. Imple­ment­ing: Lead track­ing and report­ing are use­less unless you com­mit to view­ing your reports and imple­ment­ing changes when needed.
How do you cur­rent­ly track your mar­ket­ing efforts? How has it worked for you? Let me know your thoughts. I’ve just shared some sim­ple guide­lines for those who do not cur­rent track their leads.

About David Chism

David Chism started his business out of a passion for helping small contracting businesses grow, be more profitable and become better known to their target clients. One lifelong hobby of David is using techie gadgets. So this blog is a place where he writes about technology, marketing ideas, just for fun (humor), personal thoughts on small business and more.


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