One of the most interesting conversations that remains in my mind was with a business owner who said they track everything! Of course, since I sell lead, sales and marketing management tracking software, I was interested to know exactly what.
As it turns out, they track leads, lead cost, and closing ratio. Good start, but that really means nothing in the whole scheme of things. Those numbers are JUST THE BEGINNING of tracking! What about the numbers that tell you what percentage off the top of each contract goes directly to marketing?
Some people may have an excellent closing ratio, but they are still NOT profitable for your company. Some may have a lower closing ratio, but are more profitable than others.
If you have no way to know how much it is costing you to get that sale other than lead cost, I promise you, your system is not an effective analysis of leads, sales and marketing. Effective tracking is NOT just closing ratio and lead cost, folks. If this is what you track, you are mistaken and, worse yet, you are missing out on revenue! Go to my website at www.bythenumbersroofing.com to see a few scenarios spelled out.
I wish you great Success!
Susan
P.S. Following are a couple pictures from the show...
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