Few marketing measurements are more telling than the cost per lead and leads per conversion. Those two essentially encompass all that marketing seeks to achieve when it comes to commerce.
That’s why trade shows are such popular marketing tools for companies large and small: because they accelerate the sales cycle and have the lowest cost per lead and, ultimately in many cases, conversions. Online marketing is similar when done correctly in that it can have highly defined and relatively low costs per leads and conversions. But it requires proper preparation and follow-through to ensure the best results.
Reducing Costs Per Lead Can Be Done
Many marketing specialists make the mistake of focusing only on the cost per conversion and not the cost per lead when assessing marketing success. Cost per lead indicates the ability to target potential customers who are most likely to make use of the goods or services offered. The lower the cost per lead, the better the targeting of potential customers, which results in improved costs per conversion and better profitability. Reducing costs per lead indicates improvement in targeting and making the proper appeals to those who are most likely to have a need for your goods or services.
Targeting Improves Lead Generation
Marketers who effectively can target the right consumers and businesses will be able to improve their market shares and success. That means choosing the right market segment and using the proper marketing appeals to induce possible clients to respond to calls to action. When that is done, the target is well-defined and accessible. The frequency with which they are subjected to marketing appeals can extend the reach and overall effectiveness, which can lead to more product or services inquiries and increased sales and profitability. Targeting is an essential element of any successful marketing plan.
Do you measure your costs per lead?
Originally posted 2014-07-20 15:42:50.