Any business that is starting out or wants to continue to grow needs low cost lead generation. Leads lead to customers who lead to sales. No leads no profits! Using low cost methods of acquiring leads is a must for any business that is starting out. When talking about low cost that does not mean the leads are free. The cost of a marketing campaign is measured in both time and money. A business owner needs to know the cost of their leads, establish a budget for their marketing campign, and have a tool-box of techniques for generating leads.
All lead generation has a cost. You can have a free campaign that will cost you time and generate no leads while a paid Solo-Ad generates lots of leads making your cost per lead very low. The cost per lead is the benchmark we want to look at when planning our marketing budget. How much does the lead cost the business? The traditional rule of thumb is to pay no more than $5.00 per lead. It is difficult to measure the cost per lead in one shot but must be measured over time. Your ad or message must be in front of your targeted group enough times to make an impression. It is all about numbers.
The amount of money spent on the campaign to get the desire number of leads is where we get our cost per lead. How the lead is generated or the task that the customer needs to do is the call to action. What ever you are wanting the customer to do is a lead and you compare that against the cost for that campaign. So tracking become a very important job. Indentifying the leads and where they came from is very important. This can be very easy with the internet. You can create sub-domains for each campaign and track who clicks from where with Google Analytics or some other free service. Of course if you are using Google Adwords than you will have a wealth of knowledge about the clicks, impressions, etc that you can use and study. There are other services that will help you track lead generation if you do not use Google Adwords. Our business runs upwards of 20 campaigns so tracking leads and their cost is important. Look for other free services to help in tracking leads. A simple way is tracking each campign, money spents and the leads on a spreadsheet.
Trading money for time t generate leads is the tug-a-war that will take place in your business everytime to start a marketing campaign. Many free and low cost leads, from blogs and article marketing, will require more time to get your message across. Your target audinece will need to see your message multiple times before they may be ready to use your services. So these campaigns will take consistent, persistent action to make an impression. If you are looking to spend less time and more money classified ads charge a monthly fee. It is basically a newspaper ad online. These online papers ads will highlight your ad for a small extra fee. You can get a report the traffic your ad has generated - impressions and clicks. This is an easy task that is why you will have a lot of competition. If you can increase your budget solo-ads or rent-a-list are another campaign strategy. Targeted leads will cost more money. Pay-per-click is considered by some to be the whole grail of lead generation but is more expensive is total dollars. You pay for each click on your ad that appears on a website that a customer has performed a search on that particular topic. The clicks are more qualified than ads or emails. These are customers looking for your product that is why they clicked on it. You can reduce your cost of clicks by studying and learning the ins and outs of Pay-per-click advertising.
All low cost lead gernation has a price weather it is time or money. It is a factor of cost per lead that can be acquired through blogging, article marketing, classified ads, solo-ads, targeted email and pay-per-click. Your business will survive or thrive based on how well you track the cost of each lead as it compares to each campaign.
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