Many software vendors monitor incoming leads and use conversion tracking tools, but should you track the 95% that doesn’t convert to a lead?
It kills me to find out that many software companies don’t track the portion of their web traffic that fails to convert into a lead. For the average website (based on a 5% conversion rate), that means that 95% of traffic goes untracked (and some pages could be even higher)! There are great reasons to track ALL of your web traffic– especially the users that didn’t complete a valuable action, like signing up for a demo.
If you’re only tracking your conversions, you’re only catching a glimpse of a much larger picture. Understanding the behavior of visitors that don’t convert into a lead can give you some ideas of how to boost your online marketing presence and, ultimately, your bottom line. One of the greatest benefits of online marketing is that, compared to other, more-traditional ad channels like print, it’s relatively easy to track and evaluate a return on investment. Plus, there are countless tools out there to make tracking even easier, like Google Analytics for example. Unfortunately, many of the people that have Google Analytics installed never take the time to use it properly (or log in at all).
Thomas Edison said, “I have not failed. I’ve just found 10,000 ways that won’t work.” These are great words to live by– especially when it comes to your website. It’s important to use website tracking and analytics to understand what ALL visitors are doing on your site so that you can understand what is and isn’t working.
Google Analytics is the most common website tracking tool, but you have the option to explore other free options, like these 10 free web analytics tools, for example. There are also low-cost solutions like Clicky or Woopra (which both cost around $79/year) and offer greater tracking functionality. While the tools offer different functionality, all will allow you to track valuable basic information like:
- Unique visitors
- Time on site
- Bounce rates
- Browser stats
- Geographic information
While these tools provide pretty basic tracking data, just having these simple figures can help you guide the development of the future content on your site. For example, perhaps you never knew that your site receives a large volume of European users because none of those users converted to leads. With that knowledge, you could test adding pricing in Euros to your pages to appeal to that audience and expand your international presence.
Monitor Traffic Sources
As an added bonus, having web tracking in place for unknown visitors will also allow you to monitor new sources of traffic to your site. No more guessing as to whether or not a new advertising channel is a waste of your time or resources- you can now review how visitors from those specific channels behave on your site. Perhaps the new channel has not provided any leads this month, but those users have been spending twice as much time on your site than the average visitor. With that information, you can test different offers to see what about your site isn’t compelling those visitors to convert into leads.
Many of the tracking solutions mentioned earlier can also help you monitor the paths that your users take throughout your site. Google Multi-Channel Funnels, for example, is a free tool in Analytics that helps you track how all of your channels work together. It lets you track your users for a full 30 days before they convert into a lead, so you’ll know exactly what path your users took to make it through your online marketing funnel.
And finally, to take things one step further than free analytics tools, consider adopting marketing automation software to track your web visitors, which includes more robust reporting, lead attribution, and often integrates with other programs such as your CRM and email marketing solutions. We put together this list of the Top 20 Most Popular Marketing Automation Software Solutions last year, and it’s a good place to start your research.
By tracking the other 95% of the activity on your site, you’ll finally have the full picture necessary to improve your marketing efforts. If you know what sites, paid or organic, contribute the most traffic and lead opportunities, then you can start testing ways to turn those channels into full-grown lead contributors!