It may be St. Patrick’s day, an Irish holiday that’s now celebrated in the greater part of the world, but that doesn’t mean you should rely on luck to run your business.
Especially when it comes to things like customer acquisition and retention, luck can certainly be a factor, but it’s something you can’t control and it will rarely ever keep your head above water.
Be Strategic About Where You’re Finding Customers
If you really want to give a boost to your bottom line, you need to start getting strategic about where you’re getting new customers.
You’ve got to do away with those days of assuming things are working or going off of memory.
Because, while you might think you’ve gotten a lot of leads from your last radio ad, if you aren’t tracking who’s coming from where, you’re really just guessing and might be totally off course.
Even further, the number of leads you actually get has no direct correlation to the number of customers you have, unless you’re targeting the sources that convert for you the most and you’re nurturing those customers along the way.
It’s time to buckle down and get serious about real data.
Tracking Lead Source
While the “Lead Source” field isn’t required in JobNimbus, you might as well consider it as such if you’re going to work towards getting more quality leads.
Adding lead sources is a piece of cake. All you have to do is go to Settings and find the Lead Source tab.
You can add more lead sources, remove any old ones that you don’t need, and reorder them so the ones you need most are more accessible.
Tracking lead source can happen on a contact and on a job, allowing you to independently track where each came from.
Say, your client came from a radio ad, but the job you did for them a year later came because of your anniversary card that you sent to them. You can track each one of those independently so you know exactly what’s making you money.
Now that you’re tracking your lead source, it’s time to find out the effectiveness of your marketing efforts.
If you head to Reports on the left side, you’ll see the built-in report called the Lead Source Report.
Now, all you have to do is set the Date Range for the timeframe that you want for your results and you’ll be able to easily see the following:
1. Your leads separated by lead source (list)
2. Your overall lead sources on a pie chart (%)
3. Your close/sold rates by lead source (%)
You can drill down to each record on the list and edit the Date Range to see how your lead sources have performed over time.
Refining & Follow Ups
Now comes the part where all this pays off: you now know exactly what lead sources are bringing in the most customers and which are converting at the highest rate.
No more guessing, no more wondering. Just cold, hard data that’s always up-to-date and ready for you to act on.
But beyond just knowing where to put your marketing money, it’s also time to figure out why some sources aren’t converting as well as others and see if there’s anything you can do about it.
Do these leads require a certain level of nurturing that you’re not providing? Are they coming in at an earlier part of the buying cycle that you aren’t built to receive just yet?
Take some time to look at your lead source reports and try to figure out what you could do to improve the conversion rate from low-performing sources.
If they can’t be improved, leave them behind and spend that money where it will really make a difference.
Luck isn’t a sustainable business trait or asset. It might help sometimes, maybe even when you most need it, but when it comes to customer acquisition and retention nothing beats the heart-throbbingly gorgeous value of data to remove all the fog and give you a clear picture of where you need to go.
So, are you ready to take charge of your marketing?