An area of marketing that I have been spending a considerable time studying recently is website analytics. I’ve been asking myself questions like:
- What information should we be tracking?
- What information is important to marketing?
- What information is important to sales?
- What information is important to executive management?
- How do we track this information?
- How do we present this information to marketing/sales in a way that it can easily become actionable?
- How do we tie all our systems together (SalesForce, HubSpot, ClickTale, etc)?
- How to we lead nurture and lead score?
- When should a lead transition from marketing to sales?
This isn’t an easy problem to solve, especially for start-ups with limited resources and tight budgets. However, I would argue that properly tracking leads or new member activity is probably one of the most important things any start-up can do. The information and insight obtained through analytics will answer many questions like:
- Where are new members/leads coming from?
- What is my cost per lead? cost per new member? cost per sale? total lifetime value of a customer?
- Where should I be allocating more advertising dollars? less advertising dollars?
- What part of my website is converting? not converting?
- Are social media leads more profitable than webinar leads?
- For those leads that turned into sales, what common traits/activities do they possess?
- How do I nurture and educate a lead so they are ready to buy?
Those are just some of the questions you’ll be able to answer and then act on. If you are a start-up that has received VC money, these are the exact questions your board of directors and investors will be asking. They will be very impressed if you can give clear, reliable answers to their questions.
So with that said, where/how do we begin?
I have identified the following lead source details that every start-up should be tracking today (this is just a start). In a follow-up post, I will include a detailed step-by-step description on how to properly track this information. Here are the lead source details:
- Medium (organic, PPC, referral, email, webinar, press release, etc)
- Lead Source (Google, Yahoo, Twitter, Facebook, LinkedIn, etc)
- Keywords (What keywords did the visitor search?)
- Referring URL (Where did the visitor come from?)
- Landing Page (What was the first page the visitor visited on our website?)
- Form URL (What was the URL of the form that the user filled out where you collected this information?)
Keep your eye out for my follow-up post on how to track all of the above web analytics and lead source details.