It’s scary to me that so many companies spend huge amounts of money on their marketing campaigns without knowing how much of a return those campaigns are giving them.
Do you know the cost of each lead you get?
If not maybe you should seriously consider finding out. After all, if you don’t know the cost of a lead, how can you truly assess the value of your marketing strategy? After all, you don’t advertise just because it looks good…Or do you?
You can’t assume your strategy is working. Just like any other aspect of your business, your marketing must be monitored. Follow 2 simple steps and you will be able to monitor the lead generation power of your marketing:
First, you have to ensure that all calls and emails are monitored. If someone who is not an existing client calls your offices, ask them how they found out about your company. This will let you know what strategy generated the lead.
Next, once you have the total number of leads for a given month, simply divide the cost of your advertising campaign by the total number of leads it generated. Thus, if your advertising cost you R5,000 for a month and it generated 5 leads, the cost of each lead is R1,000.
By simply doing this you will know how well your marketing is working for you, as well as how cost effective it is. Simple monitoring of your advertising and marketing can help you to make an informed decision about how to proceed.
Now take the same formula and apply it to sales. What does a sale cost you?
Help Us & We Will Help You
Currently we are writing a case study to compare the cost of our web marketing package with other marketing options. If you receive more than 100 leads and supply us with your information, we’ll credit your marketing account with R1,000. This information is confidential and will not be shared.
Please email your information to firstname.lastname@example.org