How to Generate Online Leads without Overspending

Do you know how much you pay per lead?

Cost per lead is not always a clear metric to measure. When you factor in things such as branding and word-of-mouth marketing, it’s hard to place a figure on things you can’t track. 

Let’s say you create a new company logo. You spend a fair amount of money on it, along with a new website design. And when it’s finally launch time, you notice an increase in sales and you’re happy with the result.

But — and here’s the rub — is the new company logo a direct response to the increase in sales? Or was it because of some other changes made with your site’s design or the updated content on the site? 

Cost per lead can be a not-so-simple concept. That being said, there are some things you can do to create a profitable investment of your customer acquisition costs. These things we’re about to tell you are best practices based on psychology and our personal experiences.

The Reason Why You Measure Lead Cost

 You measure lead cost so you know what you’re spending to acquire a new customer on your website.

Let’s break that last sentence down a little, so you fully grasp the concept.

• Measuring means you’re looking at the number you spend to get a conversion. When we’re talking cost, a conversion is a sale. This means looking at your entire sales funnel process and tracking the customer journey — from start to finish.

• A new customer is someone who buys from you. Unlike an opt-in, a customer is someone who’s given you money. Only when someone becomes a customer can you justify your cost of acquisition.

At Sūmér, we do our best to measure all things possible on a business website and landing pages. By testing the conversion rates of our marketing campaigns for clients, we know what to tweak, adjust, and maintain. By tracking the performance of a marketing campaign, you can know how much your investment is to acquire a customer.

Right now you’re likely wondering how to grow your customer list without spending too much and making sure you’re spending money wisely.

So let’s get to generate online leads.

How to Bring in Internet Leads like a Professional

What you choose will determine if you’re going to stand out and rise, or blend in with the rest. Too many businesses copy what everyone else is doing when it comes to lead generation. That is a mistake. When you copy the majority of webpages, you’re going to get insubstantial results.

We don’t want mediocre results for readers of our blog or our clients. This is why we made a list of tips. Use the following techniques if you want to get better conversion rates from your online lead generation campaigns.

What you choose will determine if you’re going to stand out and rise, or blend in with the rest. Too many businesses copy what everyone else is doing when it comes to lead generation. That is a mistake. When you copy the majority of webpages, you’re going to get insubstantial results.

We don’t want mediocre results for readers of our blog or our clients. This is why we made a list of tips. Use the following techniques if you want to get better conversion rates from your online lead generation campaigns.

• Offer a lot of value — immediately. While creating your lead magnet, go straight for the end core desire. Give people what they want first (you can give them what they need later). If you’re offering a health product, talk right away about the benefits your product offers. [links to recent lead magnet post]

• Remove restrictions and barriers. What we mean here is DO NOT add limitations to your offer… or, if you MUST add them, add as little as necessary. For example, if you’re offering a free giveaway at your new restaurant, make it completely free. Do not require them to buy something first. As long as you have other things to offer, and you provide good service, it will pay off because they will buy more food and come back again.

• Remember: lead generation is an investment. It’s okay if you lose on the upfront cost of your lead generation. If you can make money on the lead generation, that’s great… but it’s unlikely you will do so right away. Most businesses do not make money on lead generation. You make money with the process — not the initial investment.

• Don’t imitate the average Joe. It’s a mistake to copy what everyone else is doing. While it may feel “safe” to do so, you’re going to get the same results as everyone else. If you’re going to use a technique you’ve seen online, make sure it works first. Don’t use a lead generation tactic because it sounds good or you think it works — only use provable methods if you want to save money on your lead gen.

• Consider the sales process. Lead generation is just one step of the sales process. You also have to consider things like what comes after the opt-in: upsells, nurturing, customer service, and everything else that requires the sale. You may have the most amazing lead gen, but without the entire system in place, it will lose money.

Imagine Getting Profitable Lead Generation for Your Business

Lead generation is a marketing investment, even if it’s profitable, because it takes time to engineer a campaign and create the materials. Since time is more valuable than money, you will always make an investment when fine-tuning your process of getting online leads.

But like anything else you do with your business, when you make the right choices in the beginning, you reap the rewards in the end. The smart upfront decisions lead to more money and more time in the long term.

You can get profitable online lead generation when you follow the five best practices above. We know because we use them and get results for our clients. In some cases, our campaigns have generated five- to six-figures of revenue after implementation. While we cannot guarantee results, we can guarantee the same amount of time and dedication toward your business.

Start Getting the Right Leads — Prospects Who Are Likely to Become Customers

When you’re ready for help with your next lead generation campaign, contact us at Sūmér. We will work with you, get to know you and your business, and provide professional marketing assistance.

Don’t make the same mistakes many unsuccessful businesses make with lead generation. Do what works. Use the tips in this article, and see immediate results for your online lead generation. If you’d like help, contact us for more information.

Photo Credit: Arlo Bates