A recent Kitces.com article, “KPIs To Track Your Advisor Marketing And Figure Out What’s Actually Working (Or Not)”, inspired me to reshare this tip from June 2019.

To determine if your marketing is working, you have to closely track your sales funnel. While marketing metrics such as website visitors and workshop attendees are a good predictor of future sales activity, measuring sales metrics is the final indicator of what actually works. That means you need to track prospects and opportunities in your CRM, running monthly sales reports and analyzing the data. To collect information that will allow you to refine your sales and marketing initiatives, we recommend you track the following information in your CRM:

• Sales cycle (time between the first contact and when they became a client)

• Lead source (how the prospect found you)

• Referral source (who referred them, if applicable)

• Whether the prospect qualified

• Stage in your sales process that the prospect is in

• Assets

• Triggering event (pain point that made the prospect reach out)