✓ Build an intelligent lead generation budget based on your lead and sales performance history. If you know your acquisition cost per sale, and which lead generation sources are producing these buyers and for how much, then budgeting is a simple matter of metrics. The problem for many franchisors is that multi-tracking of sales sources does require technology and management diligence. According to Franchise Update's 2013 Annual Franchise Development Report, more than one in three (35 percent) of franchisors still don't track their sales costs, and even more don't track their sales cost per media source. Those of you who do measure performance are saving money, increasing sales, and beating up on your competitors who don't.
Good content can also have incredible short term effects using social media. Write an informative article relating to your niche and spread it around twitter, Facebook, Digg and so on. You never know who might pick it up. Your article could lead to thousands or millions of hits, news articles, radio interviews and so on - and this can happen overnight. The world is changing rapidly and good content with a sound methodology for disseminating it, is the most powerful marketing tool you have.
A Web analytics program tells you how shoppers are using your site. It reveals where users come from, what pages they visit and what keyword searches brought them to the site. An analytics package enables merchants to calculate their conversion rate. (Your “conversion rate” is the percentage of your visitors who make a purchase — a critical fact to know and track over time.)