How many leads did your marketing team generate last year? This simple question can be hard to answer for many B2B marketers because tracking leads is a complicated process, especially if you don’t have automated systems in place. However, being able to confidently answer this and other questions around marketing’s contribution to lead generation and revenue will:
- insure company growth
- justify increasing budget dollars for your marketing efforts
- improve marketing’s lead generation effectiveness
B2B marketers need to utilize a system for lead tracking to answer these questions.
Let’s discuss what lead tracking is and how to get started, even if you’re a marketing “team” of one or two, or lack an automated lead tracking system.
What is lead tracking?
One of the most important responsibilities for a B2B marketer or marketing team is to generate leads. In its simplest form a lead is an individual who is interested in your product or service. And a simple lead management process is one where marketing generates a lead, then passes it over to the sales team who “close” the lead as either a won or lost sale.
Lead tracking is the ability to track each lead from initial inquiry via a marketing channel (online or offline) or campaign (digital ad, email, direct mail etc.) response through to a closed sale (won or lost).
This simple lead tracking and management business process can get complicated very quickly. For example, is the lead located in a geographic area your company sells into, which sales person gets which leads, how does marketing hand off the lead information, and how does sales notify marketing of closing the sale. These are just some of the lead tracking details you typically need to work through. Read my post about business processes to learn the why and how for lead tracking and other marketing processes. Read more