Getting more leads from your website could actually be a money losing activity. Learn how to insure profitability from every online lead you get.
What is the most important, bottom line result you want from online lead generation?
Leads! Lots of them. The more the better.
If that is all you are focusing on as your “bottom line,” you may be shooting yourself in the foot. If you are not factoring in the economics of lead generation, you are in BIG trouble.
The Simple Online Lead Generation Profit Formula
In this series of articles, created to help you maximize your revenue from your website, we have been looking at a simple formula we use here at 2nd Mile Marketing for all our clients.
Traffic x Conversion x Refinement = Maximized lead generation, sales, revenue
You must pay attention to each part of the formula if you want to maximize results… including revenue.
In part 1, we looked at the most important thing about your website traffic to insure maximum profitability.
In part 2, we looked at website barriers that reduce response (conversion) rates on your website, leading to lower levels of leads, sales, customers, and revenue. These are often things you must remove from your website.
In part 3, we explored the power of persuasion triggers to increase the response rate on your website.
In part 4, we discussed how to increase your online leads and revenue by improving the response rate of your website.
In this article, we want to examine how to factor in the economics of your online generation efforts.
“Get Us Lots Of Leads!”
Let me share a real life example of how business often doesn’t take economics into consideration.
We had a very large company in Chicago contact us about running a lead generation campaign on Google for one of their limited time offers.
We asked a lot of questions, not only about their offer, but about their cost and profit metrics for the offer.
In other words, if we could get them a lead, how much could they make?
We then compared that to how much we estimated it would cost to acquire that lead.
How This Added Up
The result: we turned down the work… and strongly recommended a different approach for them.
Why? Because, based on the current numbers they were working with, it was highly unlikely that they could be profitable with this campaign.
Sure, we could have taken their money and done the advertising for them. We could have showed them all the leads we got them.
But, they would have lost money.
Sorry, but we don’t do this just for the money. We have to be convinced that we can make our clients profitable from our efforts.
The Bottom Line: Your Wallet
Here is the point: you not only need to know your numbers at the beginning of the process… but all the way through the process to insure profitability from your online lead generation efforts.
One key to making great profits from online lead generation is to pay attention to 2 simple numbers. TWEET THIS
Watch this video, as we show you exactly how to measure your results to determine profitability on your online advertising efforts.
What To Do With This Information
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