A Look at Metrics and Lead Tracking Inside Lightspeed
For those who know me, much of my career in powersports was spent on the digital side, with nearly two decades at ARI. One aspect I’ve always enjoyed about working with websites is the abundance of tangible data points that can be tracked and analyzed at any time. Data-driven decisions are essential, and I want to take a moment to highlight the importance of tracking your website’s performance inside of Lightspeed.
Start by Evaluating Your Website Costs
The first step is simple: evaluate what you’re paying for your website. This includes not only the cost of the website itself but also any additional services like SEO or SEM you may be purchasing through your provider. While I’ll save the discussion on SEO/SEM ROI for another time, it’s important to separate these costs to clearly assess what value each component brings to your dealership.
Fundamental Metrics to Track
Some of the most fundamental metrics you can easily track include:
- Unique visitors: How many individual users are coming to your website.
- Total visits: How often your site is being visited overall.
- Time spent on the website: This can give insights into user engagement.
- Most importantly: How many leads your website generates.
Quality vs. Quantity in Lead Generation
Over the years, I’ve seen various website providers claim they can guarantee more leads if you switch to their platform. In theory, more leads should mean more sales, but it’s not always that straightforward. I’m a firm believer in quality over quantity—more leads don’t always translate into more sales. An influx of leads can often lead to wasted time for your sales team as they chase down unqualified prospects.
The Problem with Lead Tracking Across Platforms
A common issue I’ve encountered is that most major website providers don’t integrate with a CRM and a DMS, making it difficult to track which leads actually close unless you spend hours manually cross-referencing them. This is where Lightspeed shines.
Lightspeed’s Lead Tracking Advantage
One of my favorite features within Lightspeed is how effortlessly it brings all your lead sources into one central location. With Lightspeed, you can easily track:
- Number of leads generated from different sources.
- How many of those leads resulted in sales.
- Your close rate (Close %) to see how effective your sales team is at converting leads.
- Revenue generated by leads to understand the impact on your bottom line.
- ROI percentage, a crucial metric that shows how much you’ve earned compared to what you’ve spent on lead generation.
The ROI percentage allows you to input costs from various sources—whether it’s your website, third-party classified sites, or even events like an open house or sports show—and instantly see the return on investment for your dealership.
Simplify Lead Tracking with Lightspeed
If you’re not already routing all your leads into Lightspeed, I strongly encourage you to start. It not only simplifies the process of capturing leads but also provides instant insights into how those leads are performing, helping you make more informed decisions for your business.
Optimize Your Dealership’s Performance
By tracking these metrics and optimizing your lead sources, you’ll be in a much stronger position to improve your dealership’s performance and efficiency. Stay tuned for more discussions on how to get the most from your website and digital investments!
Jeremy Johnson
I'm a seasoned veteran in the powersport, marine, and RV industries with over 24 years of experience. I've spent a significant amount of that time in the digital and website space, and I absolutely love it. I recently celebrated my two-year anniversary at Lightspeed, where I get to work with OEMs and dealers and help them succeed in the digital world. When I'm not at work, I enjoy traveling with my family, watching my kids' sporting events, and exploring the beautiful outdoors of Northern Minnesota through hunting and fishing. I'm incredibly passionate about what I do, and I love sharing that passion with others. Whether it's working with my team at Lightspeed or spending time with my family, I'm always up for an adventure.
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