What is Lead Tracking?

Lead tracking is the process of determining the source of your leads, following what actions they take throughout the sales journey and how they move through the funnel to become a closed sale. 

It is key to have a proper and efficient lead tracking tool in place for your agency. A Customer Relationship Management (CRM) System, like OneLink, can track your leads by source, pull detailed reports and create custom campaigns based on source and stage of the sales funnel to convert leads to paying customers.

What is a Lead Source?

A lead source is the first point of contact that a consumer has with your business. 

Customers will use multiple channels throughout their sales journey, so it is crucial you are capturing their initial lead source. For example, if a lead sees an ad on LinkedIn, visits your website and then contacts you through your website, their main lead source would be LinkedIn.

Types of Lead Sources

It is crucial to identify and track all your lead sources. 

Here are some common lead sources in insurance sales:

• Referrals 
• Social Media
• Email Campaigns
• Direct Mail
• Print Advertisements 
• Paid Digital Ads
• Search Engine
• Events / Webinars
• TV/Radio

Why is it important to track a lead source?

Identifying and tracking lead sources allows you to understand which sources are the most effective and the best use of your agency’s time and money. Track the ROI of your marketing and sales efforts and connect actual profits to lead sources to justify your spending on profitable initiatives.

Use automated marketing to create personalized experiences based on the lead source. If a lead source comes in from social media, use that information to continue to feed them relevant resources and information on your business throughout their sales journey.

Take care of customers who send you referrals. Referrals are a significant source of leads in insurance sales. Tracking referrals from current customers allows you to reward customers for their loyalty. Your agency can create and promote a referral program for current customers to increase customer retention and satisfaction.

Get creative with your marketing tactics and experiment with ways to acquire new leads. Track all of your marketing and sales efforts, consistently pull reports, and analyze the success of your lead sources to determine where you need to adjust your efforts.

Don’t give up on a lead source that isn’t currently effective; use the data you have available and pivot your approach. Maybe an ad you’re running on Facebook just isn’t working or a landing page you create isn’t converting. Make the necessary adjustments and re-evaluate.

Tracking Progress Through the Sales Funnel

Tracking a lead’s progress as they move through the sales funnel allows you to create a personalized sales experience for your users. Marketers report that personalization efforts can boost revenues by up to 15%.

Schedule personalized communications and follow-ups based on the lead stage in the funnel. In the early stages, send blogs, videos and infographics to show industry knowledge and begin to build trust. As they move throughout the funnel, share case studies, white papers, Ebooks and testimonials to position your agency as an industry thought leader.  

Are certain sources producing more sales qualified leads? Keep an eye on which leads are converting to closed sales and which sources they are coming from. Use reports to analyze, enhance and prioritize effective leads sources and tactics. 

Maybe a particular source is attracting leads early in the sales process? These leads may not be ready to buy just yet, but that shouldn’t stop you from putting them in an automated drip campaign to stay top of mind! Tracking these leads sources and understanding the buyers’ process allows you to maximize lead conversions.

Gain insights into your leads and customer base to gain a better understanding of actions they are taking during the sales process, how they are interacting with your content and business and how long it takes to make a purchasing decision. This data will also help you create realistic sales objectives for your teams. For example, if the average time to move a lead to a closed sale is four months, then set those expectations with your sales teams. 

Monitoring leads throughout the process will also assist you in overseeing the sales team’s productivity and allow you to make suggestions to team members or enhance your agency’s sales training efforts.

Lead Tracking Best Practices

• Work with your team and map out your ideal customer journey.
• Properly identify all possible sources.
• Do your best to keep your data clean. 
• Use the information you have available and create realistic goals for your sales teams.
• Use a CRM program to track leads efficiently and effectively.

Optimize Lead Tracking with OneLink.

Instead of fumbling around with different tracking systems, Excel spreadsheets and other CRM programs, operate your agency with one CRM that manages commissions, tracks licenses, automates marketing and provides sales analytics — all in real-time and accessible from anywhere.

Take full advantage of OneLink CRM’s capabilities to communicate with customers across multiple channels throughout their sales journey. Use automated communications and built-in customer management to help your team stay efficient while outperforming the competition. 

Experience the product first hand—schedule a free demo today at www.intruity.com/OneLink.