I thought I would put together a simple excel spreadsheet that would allow everyone to determine their costs of qualified leads. It’s critical that your company come up with a list that defines exactly what you consider to be a qualified lead or prospect. Far too many companies ignore this critical aspect of measuring the success or failure of individual marketing campaigns. Instead of clearly defining what they consider to be a good prospect, they simply assume that any lead, from anywhere, will suffice.
Your analysis of individual campaigns must be based on a natural progression that includes measuring the costs of generating leads, determining whether or not these leads are qualified, and how many of those qualified leads turn into customers. It’s not enough just to assume that any number of incoming customer calls is proof positive that your campaigns are working. Instead, you have to take your analysis a step further in order to define the real strengths of individual strategies.
The sample sheet is fairly straightforward. However, it does rely upon your company’s ability to track where leads come from. Tracking leads generated from your website, pay-per-click (PPC), banners and text-link advertisements is fairly straightforward, as is tracking leads from trade shows. However, tracking the results of press releases, print and magazine advertisements is much more difficult and requires a more concerted effort on your part.
In addition, it’s common for a potential customer to be unsure of exactly what incentivized them to move forward with an inquiry. Therefore, when asking, try to get as much information about how and why these customers decided to move forward.
The above video is from: Sample Marketing Budget Excel Sheet: Graph & Pie-Chart of Expenditures
Here is the download: Download Sample Excel Sheet Determining the Costs of Qualified Leads
First, input your individual marketing campaigns. Second, input the number of leads generated by those campaigns. Third, input the amount of your expenditure by leads. The sample sheet will then calculate your individual cost of leads for you. Finally, everything will be placed within a pie-chart with percentages so that you can track the results of your strategies on a monthly or quarterly basis.
If you want to learn more about how to define your costs of acquiring new leads, then please go to: Does Your Business Know How Much it Costs to Get a New Customer?
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