Mastering Lead Source Tracking: A Comprehensive Guide

Lead Source Tracking & How To Understand Your Online Traffic

This post explains what a lead source is and how to create the right lead source tracking on your website. I also discuss, how to generally improve your understanding of your online traffic.

In digital marketing and marketing in general, the more you understand your audience and online traffic, the better equipped you are to making the right decisions. And the better your marketing strategy is going to be.

One of the biggest questions in online marketing is where our traffic is coming from. But equally important, is understanding how your various channels are performing in terms of cost of acquisition.

The first step in understanding your online traffic is to set up lead source tracking on your website.

But first, let’s talk about what a lead source is.

What’s a lead source?

A lead source is the marketing channel from which the lead visited your website. Imagine getting 10,000 leads a month but you have no idea if they came from your Facebook Ad campaign, Google search, Google Ads, or any other channel driving traffic to your website. It would be a disaster.

There are a ton of ways people can reach your website that were developed by a web developer. The below categories encompass the majority of businesses use to generate traffic.

• Organic Search (Google, Bing, Etc.)

• Social Media Platforms (Organic)

• Social Media Paid Ads

• Native and Display Ads

• Influencers

• Referrals, Backlinks & Other Websites

• Cold Outreach (Calls & Emails)

• Email Marketing

• Non-Digital Media (TV, Radio, etc.)

• Network Marketing

• Shows, Conferences & Expos

Why is measuring the lead source important?

There are many benefits to tracking the source of a lead.

For starters, when you identify the source of leads, you’ll be able to structure your marketing budget more accurately. You’ll know where to allocate resources and money. If you spend too much money on a channel that doesn’t generate leads, it might be a good idea to dial it down and invest somewhere else.

Second, you’ll be able to get context on why and how people find you. For example, let’s say you’ve written a blog post on “5 Ways to improve memory without using supplements”. And it generated a lot of traction. This might help you understand what your audience is interested in. But also, what other relevant content you can create on various platforms.

Third, tracking the lead source allows you to improve the overall experience of your audience and customers throughout the buyer journey. By knowing where leads are coming from, you can personalise and contextualise future emails and communication.

around why and how your audience members find you. As a result, you can improve the customer experience and buyer’s journey with a targeted social media marketing strategy. This includes targeted content, communications, interactions, and more.

And finally, tracking lead sources allows you to create a more effective sales funnel. For instance, in your email marketing platform or CRM, you can structure lead scoring based on where they came from. If a lead came from an organic search channel, it might be more important than a lead that came from another source, especially if it was generated by an SEO agency. Lead allocation by priority and importance is an important aspect of any effective sales process.

Traffic Source vs. Medium

People often confuse a lead source with a lead medium. They are not the same thing. A lead source refers to the platform or channel it came from. For example, if a lead came from Google, the lead source is Google. However, the medium could be Organic Search, Google Ads, Display Ads, etc. Traffic medium refers to the type of media that the traffic found you through.

A lot if not all of the analytics platforms will show that clear distinction. If you use Google Analytics, in the Acquisition data, you can see ‘Source/Medium’ as an option to view your data. But you can view data by source/medium throughout the platform.

Other Parameters To Track

Aside from the traffic source and medium, there are a few other parameters to track especially if you are running social media marketing strategy campaigns. Most Ad campaigns are structured in the following manner

Campaign -> Ad Set or Ad Group -> Ad Name

Tracking the Campaign Name, Ad Set/Group Name, and Ad Name is very important because it allows you to ascertain how your campaigns are performing on a detailed level.

Lead Source Best Practices

Here are simple steps to create a lead source tracking framework.

1. Identify all the traffic sources you are currently focusing on.

2. Tag your traffic with the parameters you’d like to measure.

• Source

  1. Medium

  2. Campaign Name

  3. Ad Set / Ad Group Name

  4. Ad Name

  5. Audience Name (Based on the platform)

  6. Keyword Name (Google Ads)

  7. Form Name

1. Use the right Analytics platform. I suggest starting with Google Analytics and Google Tag Manager, provided by an SEO agency, to measure your lead sources.

2. Pass lead source information to your email marketing platform and CRM.

3. Use attribution modelling to accurately allocate the contribution of various sources.

4. Measure the performance of leads and sales conversions.

5. Prioritise and allocate leads by priority and weight.

   Measuring and Analysing the Success of Lead Sources

6. To truly understand the effectiveness of your lead sources, it’s crucial to measure and analyse their success. This will allow you to identify which sources are generating the most valuable leads and optimise your marketing efforts accordingly. Here are some essential steps and tools to help you measure and analyse the success of your lead sources:

   1. Set up the right Analytics platform: Start by using a robust Analytics platform like Google Analytics and Google Tag Manager. These tools will provide you with valuable data on your website traffic, including the sources that are driving visitors to your site.

   2. Pass lead source information to your email marketing platform and CRM: To accurately track the success of your lead sources throughout the entire customer journey, it’s important to pass lead source information to your email marketing platform and CRM. This will enable you to attribute conversions and sales back to specific lead sources.

   3. Utilise attribution modeling: Attribution modeling allows you to accurately allocate the contribution of various lead sources in the customer journey. By using different attribution models, such as first-click, last-click, or multi-touch, you can gain insights into which sources are driving initial awareness, consideration, and conversion.

   4. Measure the performance of leads and sales conversions: It’s not just about the quantity of leads generated; it’s also important to measure the quality and performance of those leads. By tracking metrics such as lead-to-opportunity conversion rate, opportunity-to-customer conversion rate, and customer lifetime value, you can determine which lead sources are delivering the most valuable customers.

   5. Prioritise and allocate leads by priority and weight: Once you have a clear understanding of the success of your lead sources, it’s important to prioritise and allocate leads accordingly. Assigning a priority and weight to each lead source will help you focus your resources on the sources that are driving the highest-quality leads and maximise your return on investment.

   By following these steps and utilising the right tools, you can effectively measure and analyse the success of your lead sources. This will enable you to make data-driven decisions, optimise your marketing efforts, and ultimately generate more valuable leads for your business. Remember, understanding the performance of your lead sources is key to driving sustainable growth and success.

   Essential Tools for Tracking Lead Sources

   When it comes to tracking lead sources, having the right tools in place is crucial. These tools will help you accurately measure and analyse the success of your lead sources, allowing you to optimise your marketing efforts and generate more valuable leads for your business. Here are some essential tools that you should consider using:

   Tool	Features	Pros	Cons
   Google Analytics	Provides valuable data on website traffic and lead sources	Free to use with robust reporting capabilities	Requires some technical setup and configuration
   Google Tag Manager	Allows for easy implementation of tracking codes and tags	Simplifies the process of tracking lead sources	Requires basic knowledge of HTML and JavaScript
   Email Marketing Platform	Enables tracking of lead source information throughout the customer journey	Helps attribute conversions and sales back to specific lead sources	Cost may vary depending on the platform
   CRM (Customer Relationship Management)	Provides a centralised database for managing and tracking leads	Allows for easy tracking of lead source information	Cost may vary depending on the CRM system
   Attribution Modeling Tools	Allows for accurate allocation of lead source contributions	Provides insights into the effectiveness of different sources	May require advanced knowledge of data analysis and modeling
   Conversion Tracking Tools	Measures the performance of leads and sales conversions	Helps identify the quality and value of leads	Integration with other tools may be required
   Lead Prioritisation Tools	Helps prioritise and allocate leads based on their quality and potential	Maximises resources on high-quality leads	Requires proper setup and configuration

   By using these tools, you can effectively track lead sources and gain valuable insights into the success of your marketing efforts. Remember, it’s not just about the quantity of leads generated, but also the quality and performance of those leads. With the right tools in place, you can make data-driven decisions, optimise your marketing strategies, and drive sustainable growth for your business.

   So, don’t overlook the importance of tracking lead sources. Utilise these essential tools and take control of your marketing efforts. By measuring and analysing the success of your lead sources, you can ensure that you’re focusing your resources on the most valuable sources and maximising your return on investment. Start implementing these tools today and watch your business thrive.

   Conclusion: The Importance of Lead Source Tracking

Lead source tracking is a critical aspect of any successful lead marketing strategy. By accurately measuring and analysing the success of your lead sources, you can make data-driven decisions, optimise your marketing efforts, and generate more valuable leads for your business.

Tracking lead sources allows you to understand which sources are driving the most valuable leads and allocate your resources accordingly. It enables you to focus on the sources that are delivering high-quality leads and maximise your return on investment.

By implementing the right tools and following the essential steps, you can effectively measure and analyse the success of your lead sources. Here are some key takeaways:

1. Set up the right Analytics platform: Start by using a robust Analytics platform like Google Analytics and Google Tag Manager. These tools provide valuable data on your website traffic and the sources that are driving visitors to your site.

2. Pass lead source information to your email marketing platform and CRM: To track the success of your lead sources throughout the entire customer journey, it’s important to pass lead source information to your email marketing platform and CRM. This allows you to attribute conversions and sales back to specific lead sources.

3. Utilise attribution modeling: Attribution modeling helps you accurately allocate the contribution of various lead sources in the customer journey. By using different attribution models, you can gain insights into which sources are driving initial awareness, consideration, and conversion.

4. Measure the performance of leads and sales conversions: It’s not just about the quantity of leads generated; it’s also important to measure the quality and performance of those leads. By tracking metrics such as lead-to-opportunity conversion rate, opportunity-to-customer conversion rate, and customer lifetime value, you can determine which lead sources are delivering the most valuable customers.

5. Prioritise and allocate leads by priority and weight: Once you have a clear understanding of the success of your lead sources, it’s important to prioritise and allocate leads accordingly. Assigning a priority and weight to each lead source will help you focus your resources on the sources that are driving the highest-quality leads.

By following these steps and utilising the right tools, you can effectively measure and analyse the success of your lead sources. This will enable you to make data-driven decisions, optimise your marketing efforts, and ultimately generate more valuable leads for your business. Remember, understanding the performance of your lead sources is key to driving sustainable growth and success. So, don’t overlook the importance of tracking lead sources. Utilise these essential tools and take control of your marketing efforts. Start implementing these tools today and watch your business thrive.