Make good choices around your lead generation budget, or you’re dead in the water online. Understanding lead generation is fairly simple. Lead generation is (and yes, this is our official #Katana definition): The actions your business takes to create a database of potential customers.
5 tips to lead you towards the right budget choices
Your lead generation budget and strategy should maximise your money, not waste it.
These are the 5 steps that you need to take when planning your lead generation budget.
Set your sales goal
Set a goal that you can measure your results against. Set attainable, accurate goals and consider these questions around lead generation:
What are your revenue goals?
How is your marketing budget structured?
What type of lead do you want? Are they cold calls, or qualified (warm) leads? (BIG TIP: you almost always want warm leads. They’re ready to cuddle).
Choose your tools
Your lead generation strategy should be multi-faceted. Don’t rely on a single act or tool to meet your sales goal. And, most importantly, use your tools to their maximum capability. For example, as part of your lead generation strategy, you may decide to use landing pages. Sometimes, this is a good idea, but you’ll need to put your back into it. Don’t bother doing this unless you’re willing to put the work in on them. You need to ensure your landing pages are:
Slick: Don’t fuss around with content and sparkles here. Get to the point.
Simple: Answer the question your lead asked that led them here. Now, make it easy for them to contact you.
Fast: A slow landing page shouldn’t even bother getting up in the morning.
Converting: Your landing page serves a single purpose: to convert a lead.
Get people there
Once you have an idea of the number of leads your sales target needs, you need to get people there. That’s what we’re here to help you with.Your lead generation strategy needs to take into account:
Expertise: A good marketing campaign needs a team of people who not only know what they are doing, but are the best at doing it too.
Tools: In digital marketing, there are a wide range of tools that, if used correctly, can generate good profit for your business. Don’t just sign up for the next flashy thing, or rely on your cousin’s friend’s advice. What works for one business won’t necessarily work for yours.
Process: An effective lead generation campaign is made up of several different processes that work together to ensure you reach your lead generation goals. These all form part of your lead generation budget.
Test: You don’t have a hope in hell of reaching your sales goal if you don’t test. A/B testing, testing new tools, testing different copy, or variations of your content, is essential. Never stop testing.
Cost Per Lead and Cost Per Sale value
When setting a budget for your lead generation programme you will need to know the Cost Per Lead (CPL) and Cost Per Sale (CPS). You need to understand your campaign costs, down to the last decimal point, and weigh that against your lead goals.
Return On Investment (ROI)
It has to make sense to the bottom line. Your CPL should always be less than the value of the lead. It is more about quality than it is about quantity. A good quality lead is one that converts into a sale. That’s true Return On Investment (ROI).
You need the right type of lead generation expertise on your side. That’s Katana. We’re the no bullshit lead generation agency that gets your business real results.
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