How to Track Marketing ROI Before You Can Afford a CRM

Support
Jun 19
3 min read

Summary:

CRM software can be expensive for new teams. Here’s how startups can measure what’s working—using Google Sheets, Bitly links, tagging leads manually, and weekly check-ins across channels.

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It’s one of the first questions investors will ask you: “How do you know your marketing is working?”

But if you’re a scrappy team of two (or just one), paying $500/month for HubSpot or Salesforce isn’t just overkill—it’s practically theft.

The good news? You can get a surprisingly clear picture of your marketing ROI using free or low-cost tools. All it takes is consistency, a little structure, and the humility to admit you’re not ready for a full-blown CRM yet.

Why Early Tracking Matters

Startups often rely on instinct and hustle in the beginning. But gut feelings are not metrics. You need visibility on what’s driving interest, what’s generating conversions, and what’s quietly draining your time and money.

According to a 2023 report from the U.S. Chamber of Commerce, over 40% of small businesses spend more than 10 hours per week on marketing, yet fewer than 20% track ROI consistently.

Step 1: Use Google Sheets Like a CRM

Create a centralized lead tracking spreadsheet that includes:

Date of contact
Source of lead (LinkedIn, cold email, referral, etc.)
Campaign ID or UTM tag
Contact status (cold, warm, converted)
Notes or follow-up date

Make it visual. Use conditional formatting or simple charts to show conversion rates and volume by channel.

Step 2: Tag Your Links With Bitly + UTMs

Every outbound link—from emails to Instagram bios—should be trackable. Use Bitly to shorten and monitor clicks, and layer in Google’s UTM builder to specify source, campaign, and medium.

Then, track performance weekly. It’ll be obvious when one channel is outperforming another.

Step 3: Manually Tag New Leads

When someone contacts you—via a form, DM, phone call—make it a habit to ask, “How did you hear about us?”

This input becomes gold. Create a dropdown menu in your spreadsheet and start quantifying it. Manual, yes. But insightful? Absolutely.

Step 4: Weekly Marketing ROI Stand-Up

Set a recurring weekly check-in (even if it’s just you) to answer three questions:

Which channels drove leads this week?
Which leads moved forward?
What’s the cost (in time or money) per lead?

If you’re spending 10 hours a week posting on Twitter and it brings you one lead every two weeks... it might be time to rethink your strategy.

According to CoSchedule’s 2024 Marketing Report, marketers who document their marketing strategy are 414% more likely to report success. Your spreadsheet = your strategy.

Real Example: Conversion by Channel

Here’s a basic visual aid to help you compare cost per lead across 4 channels.

Channel	Leads Generated	Hours/Week	Est. Cost	Cost/Lead
LinkedIn DMs	12	6	$0	$0.00
Paid Search	8	—	$300	$37.50
Referrals	6	1	$0	$0.00
Instagram	3	5	$0	—

The chart tells you what your gut won’t.

Bonus Tip: Automate Just One Thing

Use Zapier to connect form fills from your site to your Google Sheet. It’s free for small usage, and it’ll save you hours of copy-pasting.

Final Thoughts

You don’t need a CRM to track what matters. What you need is a mindset: track small, test often, reflect weekly. If your outreach strategy is working, your spreadsheet will prove it. If not, you’ll know before you’ve burned through your budget.

And by the time you can afford a CRM, you’ll know exactly how to use it.

Just launched your new business and need resources to ace direct marketing at lower costs with higher ROI?

Check out Salesfully’s course, Mastering Sales Fundamentals for Long-Term Success, designed to help you attract new customers efficiently and affordably.

Don't stop there! Create your free Salesfully account today and gain instant access to premium sales data and essential resources to fuel your startup journey.