Lead Source Marketing: A Comprehensive Guide

Lead source marketing is essential for any business that seeks growth. Building a strong strategy that targets different sources where your leads ‘hang out’ is like paving your way to success.

A good company knows how their leads find them, their buyer personas and what solutions they need. You can make your marketing more effective by identifying the platforms where customers spend their time. Also, you need knowledge on how leads find you. You can do this either through organic search engine results, social media ads targeted at specific audiences, content promotion and what not. Then, you’d be able to tailor your marketing efforts and offerings better to the potential customer.

In this day and age, circumstances are quite unpredictable and digital marketing is at its peak. Therefore, you need to make your marketing as targeted on point as possible. Resources have always been scarce when it comes to optimizing your lead generation. So, having a clear idea about how to approach different segments of your prospects is fundamental.

In this article, we will walk you through what lead source marketing is and why it is so important for businesses. Then, we will discuss some best practices you can use to increase the amount of leads you get by utilizing different channels.

Lead Source Marketing: What Is It and Why Is It Important?

A lead source is how a potential customer found out about your company, usually through internet research. In today’s market it is crucial for marketers and business owners to analyze their lead sources. Some channels may be more reliable than others. Hence,  knowing which ones work best will help you make better decisions about where your time goes in marketing efforts.

Lead source marketing is essentially managing the channels where your leads usually find your business from. When running a business, it is necessary to track where you are acquiring new prospects. As a result, you can concentrate on these and maximize their potential. With a set of clear goals, it’s easy to see how much time and effort you need to invest . 

By using the right channels and following up on those that matter most for growth opportunities,your company will be sure not to miss out! Also, with a reliable CRM installed on your website, you can easily track progress over various periods. In addition, it’s a handy way to refine your lead source marketing processes on the go.

Successful measurement of your lead sources enables you to allocate resources accordingly. In addition, careful and ongoing monitoring helps you prioritize qualified leads, tailor content for those specific channels, and communicate with a warmer audience.

Lead Source Marketing Best Practices

Now that you know what a lead source is and why marketing strategy for relevant channels matters, I’ll share some best practices to implement in your company. You should keep these ideas forefront of mind while analyzing leads from any number of sources – including social media! Maintaining quality interactions on multiple platforms is key for business growth. So, here are our guidelines for successful lead source marketing campaigns:

Determine the Value of A Lead Source

For some companies, leads from different sources have a higher chance of turning into sales. Consider implementing lead scoring to determine the value of each one. As a result, you’ll be able to set aside the better quality leads.

The way you source your leads is important. For example, a lead from your website may be more likely to turn into an actual sale than one sourced through other means such as lists or social media. The reason is that they’re tailored specifically for what it takes to achieve a conversion at scale with minimal effort from both sides – you and the lead. 

Properly calculating the per lead for marketing is essential to reporting on ROI and profitability. A great tool to track what your lead sources are worth is Google Analytics. 

You need accurate numbers for the calculation of per-lead values and costs in order to justify profitability from different channels. As a result, you’d be able to get a better understanding on how to leverage your spend on lead source marketing. 

Keep Your Lead Sources Constant

If a lead comes to your company, assign the source and don’t change it. If you have duplicates in your lead practice, use the earliest one. It is crucial to keep close communication between the sales and the marketing team to ensure each lead is taken care of.

Leads are like gold! You should always be sure to protect your lead sources so that you can continue bringing in new business. For example, if there’s a lead source with an earlier date that duplicates another one then go ahead and use them first. They have more potential for success or maybe even just want their achievement recognized by being used sooner rather than later. 

Lead source marketing is the key to unlocking new customers for your company. If you do not put equal attention on marketing and sales, or if one department struggles more than others (such as customer service), then it’s time to make adjustments to better qualify leads.

Don’t Forget About Closed Leads

To have a successful lead source marketing campaign, you need to keep track of opportunities you’ve closed in the past and review them regularly. To ensure lead sources are properly credited, take a sample of closed opportunities. Then, check the activity history to make sure lead sources are accurate.

Before you start turning closed lead source channels into new opportunities, segment them with a CRM system such as WP-CRM. However, make sure you mark down the reason why it didn’t work out with a particular prospect, date, time, product name and description. This will help you structure your lead retargeting process. CRM systems are great for displaying data so use this to your advantage.

To Recap

By understanding how to target your lead sources, you can create a more effective lead source marketing campaign. WP-CRM is an essential tool for managing and tracking leads. The plugin helps businesses understand where their leads are coming from and what actions need to be taken to convert them into customers. With the help of WP-CRM, your business can successfully boost its lead source marketing process.