Sales Success Starts with Data: Mastering Lead Information Tracking for K&B
With so much to do everyday, it can be hard to spare a thought for something as seemingly insignificant as what information to track about your leads. I get it. But the reason I’m doing an entire episode on it is because the information you chose to, or not to, track ends up being the building blocks of your sales system.
And the great news is that you can always change what you are tracking. The less great news is that humans are wildly change-resistant, but that’s a universal friction and not something solvable in a podcast episode. But we can tackle what lead information to track, so let’s do it!
Beyond Basics: Optimizing Your Lead Information Tracking Strategy
Likely you already have some foundational knowledge on Lead Information Tracking. Besides the obvious name, company, phone number, email address and project location, we need the source (where they came from) and tracking our interactions with them.
Now, this isn’t an invitation to go crazy here, there is a point of diminishing returns where we are getting more information than will be used. But do think critically about not only what information you are gathering, but also how you are categorizing it. When it comes to lead source, the most useful data is in groups large enough to be meaningful. That could mean that there are specific categories for lead source like: referral-client, referral-partner, website, social media, paid marketing. And then there could be another lead source data point that is free form where the client or partner name or a specific campaign name can be input.
Maximizing ROI: Systematic Approaches to Lead Insights and Sales Software
Thinking through, writing down and systematizing your lead tracking means you can get improved insights into your best lead sources and squeeze more ROI from your marketing dollars because you know what channels and types of leads turn into sales.
Sales system software provides additional tracking details that are more difficult to get without using software. This additional information includes interactions, communications, activities, meeting notes, lead scoring and days in a lead stage.
Tracking relevant information for a lead is essential in the Kitchen & Bath design business to ensure effective client relations and sales. Some additional key information to track includes:
- Project budget – this can help qualify leads and also guide sales conversations.
- Type of project – depending on your business, you might have multiple types of projects that can include remodels, new builds or maybe smaller scale projects. Breaking out project types help to provide insight into the lead flow and assign the right designer.
- Lead owner – in companies where there are multiple designers, assigning a lead owner keeps sales activities focused and ensures that leads don’t get missed.
- Deal confidence – this can help with forecasting when a deal is going to close.
Keeping comprehensive and up-to-date lead information can help in providing a personalized customer experience and better manage the sales process. Tracking the data needed to qualify leads and inform decisions means that your sales system is adding value to the business and making everyone more effective.
CRM Systems & Beyond: Tracking Lead Data Efficiently
Okay, we’ve covered what to track and why it is important. How about how to track all this information? Ah yes, the heart of the sales system, a Customer Relationship Manager (or CRM) system. But that’s not the only option. In the next episode we’ll discuss options for how to track your lead information.
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