Online Lead Conversion: Methods for Tracking Marketing ROI

Online Lead Conversion: Methods for Tracking Marketing ROI

Here are some key takeaways following a couple of hours of perusing:

The formula: Number of visitors X Conversion Rate = Number of leads. The sequence: Potential client visits your website, likes what he or she sees and contacts you. The business owner or sales representative should contact the lead ASAP.

The lead is the person contacting you who is interested in purchasing your company’s services or products. He or she has a budget.  The lead is interested in a followup meeting or phone call usually in the first hour or the first 24 hours.

Contact forms with “Submit” tend to get fewer leads than those that simply say “Contact Us Today” or “Click here”. A second contact form might offer micro conversions, i.e. (white papers, eBooks, webinars) you created and free trials.

Using the so-called A/B tests, which include issues like changing the font size or color scheme, is debatable. Testimonials and case studies, also known as “Social Proof,” removing navigation bars, solid headlines and copy and reviews help. 

Online lead conversion rates typically range from 2% to 7% but different industries have different conversion rates. Also, tracking marketing ROI for online lead conversion is difficult but not impossible. Invest your money wisely.

Tools to increase consumer traffic include Blogging; SEOs; Social Media Marketing; Email Marketing; Referral Traffic; Lead Nurturing Plan; Remarketing Plan; and Targeting, Auditing and Creating a Database of Existing and Former Clients.

Two questions. How will I increase (quality) traffic to my website? How will I improve my lead conversion rate? Some bloggers and experts emphasize quality over quantity of leads while others say focus on delivering great products or service.

RELATED ARTICLES, GRAPHICS

http://www.searchmarketingstandard.com/what-is-the-average-conversion-rate

http://www.wordstream.com/blog/ws/2014/03/17/what-is-a-good-conversion-rate

http://www.marketingmo.com/campaigns-execution/how-to-calculate-roi-return-on-investment/

http://www.cymbic.com/pdf/Cymbic_MROI.pdf

http://www.forbes.com/sites/work-in-progress/2012/05/14/understanding-the-new-roi-of-marketing/

http://www.kunocreative.com/blog/bid/83802/5-Steps-for-Measuring-Marketing-Return-on-Investment-ROI

http://www.nfib.com/article/5-simple-ways-to-track-marketing-roi-51364

http://www.salesforce.com/sales-cloud/resources/lead-conversion-online-offline.jsp