Do you measure your business leads?

June 16th, 2010

Recently I was with a client who asked me if they thought an amount of $$ that they spent in one area of advertising was better spent in another area.

My question to them was – which leads currently give you the most business?

They don’t measure their current leads so were unable to answer my question.   So where do your leads come from?   If you haven’t completed a leads survey here are some things to consider:

Leads Survey

  • Make a list of your current lead sources.   It might be:
    Radio, referral, existing client, newspaper, business to business partners, mails outs etc
  • Decide how you will capture the lead information – will it be:
    At the initial time of client contact, at the time of quote, when the sale is confirmed or maybe when the work is complete
  • Decide who is responsible for capturing the info, recording and analysing it
  • Make sure you are consistent in how you measure the lead
  • Try and weight the lead.   The client may have heard of you from a number of sources – you want to know what drove them to you
  • Record the information in an easy to use format
  • If you don’t have a CRM that does that, good old XL works fine
  • Make a regular time each week/month to review where your leads come from
  • Put a $$ value against each category
  • Measure your lead to quote/sale ratio
  • Allow the numbers to help you make good business decisions

Good information allows for better decisions, which allows for better productivity.   And better productivity means better profitability.

So take a moment, grab a coffee, think about how you capture your information and either start capturing or start analysing the data.

If all of the above sounds good, but you’re unsure how to implement it, then don’t hesitate to give me a call.

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