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Improve your Business – Track and Monitor Your Leads

As we all know, Sales are the lifeblood of any Business. No Sales, no Business. It’s a bit like the TV Programme, Strictly Come Dancing – No Dancers, no Show!

Now for many of you people out there, Saturday nights would just never be the same without Strictly, just ask my missus! – for me personally, it just means I can have  a few beers at the pub, but as I am sure all you gents out there will understand, it is important not to overstep the mark with “her indoors”. – So, after sampling a couple of beers and getting the taste for it, when my missus texts me to find out what I am doing, all I do is send her a quick text saying “Just got another beer love, will be home in 30 minutes. But if am not home in 30 minutes, then just read this text again!” – It usually works for me!

So, no Sales, then no Business.

We all recognise that it is vital all Business owners are constantly seeking out new sources of Business. And in doing so, we all understand, there will be a cost to the Business of attracting this new Business. This cost may be our time (and as Business owners we all appreciate our time is extremely limited), or it may be the actual pounds, shillings and pence cost of running/conducting a marketing or advertising campaign. Either way, there is a definite cost to the Business.

So, if we are spending time/money, how can we get the maximum return on this time/money? – In my view, the best way to get the maximum return on this time/money is to find out what new Business we did actually attract, and then convert into Sales. To do this, we must Track and Monitor all leads coming into the Business. Only once we do this can we discover what works for us or doesn’t work? and what pays off and doesn’t pay off?

You do not need hi-tech gadgets or expensive software, just a simple system, designed to capture this essential information. I am a firm believer in having systems. Just look at the football teams and the systems they now use (4-3-3, or 4-2-3-1, both replacing the traditional 4-4-2 system of playing – but full marks to Louis Van Gaal Man Utd Manager for the new innovative 4-6-0 system) Oh, a word of explanation for all you non-football fans if you think I cannot count, the goal-keeper makes up the team to 11 players, and so is never included in any tactical formation.

To help you with this system, I suggest the following:

  • Design a simple form to capture the initial enquiry – main priority is of course to ask the question as to “how did you find out about us”.
  • Brief/ train all Staff including the Business Owners to fill in this form every time there is a new lead – there should be no exceptions.
  • Create a New Leads Tracking Log on an Excel Sheet.
  • Log each new lead on to this New Leads Tracking Log giving date and a number.
  • Record the source of each new lead.
  • Review this New Leads Tracking Log Sheet weekly/monthly/quarterly.
  • Have a follow-up system to re-contact all leads where the prospect has not said NO!

To help you further, I am quite happy to send you across a copy of our own Initial Client Enquiry Form if any of you people wish to adapt this for your own use, together with a copy of our own New Leads Tracking Log. – Just contact me and let me know.

You will find that by tracking and monitoring all new leads you will:

  • Know exactly the number of leads you are generating, i.e. no more guess-work.
  • Be able to pinpoint where all the new leads are coming from.
  • Be able to determine your future marketing strategies and action plans by knowing what works and doesn’t work.
  • Know how/where to invest your marketing budget, leading to an improved ROI (return on investment).
  • Pinpoint your conversion rate of actual sales to new leads generated.

So, if next week you get a new enquiry from Flush Gordon, a plumber based in Consett, Co Durham or The Artful Bodger, a DIY shop in Hayle, Cornwall ( yes, these are real Businesses!), then please log these down and start tracking and monitoring all your new leads.

Rickey

Rickey Cooper FFA, FMAAT, ATT

JCL – Jones Cooper Limited

 

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