Marketers put a lot of work into their online campaigns, making it essential to track and report the results in order to determine what’s working and what isn’t. An important part of this process is “closing the loop” between marketing and sales. This means that the sales team reports to the marketing team regarding what happened to the leads they’ve received so that they can better understand which sources are the best for bringing in quality leads.
With the marketing analytics and reporting tools available today, marketers have the power to significantly improve marketing efficiency by closing this loop. As the marketing team begins to tie every lead and customer back to the campaign that brought them in, they can make better use of their budget while ensuring that future campaigns are more effective and efficient.
Below is a brief explanation of the 4 steps involved in the closed loop marketing process:
1. The visitor arrives at your website.
As the visitor arrives to your site, a cookie is set on the referral source. As the lead makes his or her way through the marketing funnel, the cookie will allow you to track them back to the proper channel they originally came from.
2. The visitor then browses your website.
As the visitor browses your website, the cookie tracks their behavior on your site. This includes information such as what pages they are viewing and the order that they view them in. Tracking the visitor’s actions gives you vital information that will help to later optimize the visitor-to-lead conversion.
3. The visitor converts into a lead.
If you want web traffic to eventually turn into sales, you need to send qualified prospects to your sales team by converting your visitors into leads. Brands can do this by sending incoming traffic to unique landing pages. These landing pages contain a lead-capture form that allows you to get more pertinent information from the visitor. Now you not only know where they came from but who they are.
4. The lead then becomes a customer.
Once your lead becomes a customer and the original source is credited, you can then begin to discover which marketing channels contribute the most customers. With this information, you are able to identify which activities are bringing in the most revenue and optimize the process for other channels.