Top Three Reasons Your Business is Losing Leads

Marketers are under more pressure than ever to produce results with their advertising. Proving value — or return on investment (ROI) — is easier than ever, thanks to digital. But still, many leads don’t get assigned to the right marketing source, especially if a prospect picks up the phone instead of filling out a form online. The solution? Call tracking software.

Call tracking software lets you use custom phone numbers in your marketing efforts. You can create specific numbers for all of your channels, including:

Organic search
Paid search
Website
Social media ads
Newsletter and email marketing

You can get as granular as you like, assigning each channel or ad type a different phone number. For example, with paid search, you could assign a different number to Google display ads vs. Google retargeting ads, allowing you to track like never before.

The Value of a Lead

The first step to proving value is knowing the value of a lead for your unique business. The easiest way to determine the lead value is to know the lifetime value of a customer and what your close rate is.

Average Customer Value / Close Rate.

So if the average customer spends $1,000 a year and the average customer length is 5 years, the average customer is worth $5,000 in lifetime value. If your close rate for leads is 50%, every lead is worth $2,500.

Top Three Reasons Your Business is Losing Leads

1

You’re tracking leads to the wrong source. It’s hard to track the true call source if you don’t have a specific phone number for each source. Call tracking allows you to assign that custom number for each – so you’ll know right away if a prospect is calling from an email campaign or Facebook ad. With so many steps in a prospect’s journey to becoming a customer, call tracking lets you pinpoint the source of the actual conversion.

2

You’re guessing where to allocate your budget. Having call tracking software allows you to make smarter decisions about your advertising spend, allocating precious budget dollars to the tactics that are the highest converting. You’ll know exactly where to put your dollars for the biggest impact.

3

You’re losing leads in the call process. Another option call tracking software provides is call monitoring. Recording sales calls allows you to stop losing leads from poor conversations or poor follow-up. Plus, you can tag calls with themes and use them to improve your prospecting process, better answering common objections.

Now, if you know your Google display ads are sending 10 leads a month, and each lead is worth $2,500, and you close 50% of them, your Google display ads are delivering $12,500 in value. With that knowledge, you can adjust your ad spend accordingly.

Stop Losing Leads and Losing Money

At inConcert Web Solutions, we are a CallRail partner, one of the best call tracking software platforms on the market. We can help you implement call tracking on your advertising efforts and start reaping the rewards of more leads and more revenue. Call today to learn more at 978-632-5300.

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