What a lead source is: A Contact’s Lead Source is generally defined as the source through which the very first point of contact was made by a lead with your company. Defining the lead source for each lead allows you to track where your best leads come from and potentially focus more efforts on those areas (to produce more leads). Simple select from a predefined list of the most common sources. For example, if a lead saw your mailer, visited your website and then called you the lead source would be “mailer” rather than “website.”
Using the lead source: In the near future there will be reporting metrics available to enable you to see which lead sources provide the most leads, the most revenue and other important details. In the meantime define each contact’s lead source so you’ll have this data available once the reporting capabilities are in place. Also, many companies like to know the lead source prior to assigning a new lead to a sales rep.