Marketing Tips: How To Manage The Cost And Quality Of Your Leads
A lead is a potential sales contact who would have expressed an interest in your product or service. Businesses all over the world invest time and money in generation of high quality leads.
A lead may be an individual or a business. Leads are usually obtained through response to advertising. The purpose of advertising is to generate leads. A good advertising campaign should flood you with high quality leads. Leads may also be obtained through referrals from satisfied customers. These leads usually convert to sale.
The profitability of your business depends on the quality of your leads. If your leads are of poor quality, your profits will suffer. The challenge faced by modern business, in the current global business environment, is to generate high quality leads, while keeping the costs lower. This requires dedicated and focused effort.
Successful businesses have been able to achieve this balance between quality and cost. The first step in managing the cost and quality of your leads is to measure. You definitely need accurate numbers before proceeding further.
You need to know where your leads come from in the first place. It is very important to have processes in place that would help you track each and every lead that is generated. Unfortunately many businesses all over the world do not have efficient processes in place to track leads.
The next step is to define what success in this entire exercise is. You need to know what a cheap lead and an expensive lead is. You must work on identifying the lead cost of your business.
The next step is to determine the best value. To generate quality lead is very important. The goal is not to get a lead, it is to get a sale. You need to be in a position to understand which leads get you sales.
It is important to analyze your leads. You need to know which leads require additional effort and which leads do not give you any sale. Analysis of past sales is of great help in this regard. Sales team should be encouraged to spend time in this exercise.
The above analysis will help you in understanding whom to target. You have to focus your efforts around those segments. Email marketing is a good idea. It is found to be very effective.
It is advisable to reach people through multiple channels. Technology makes this possible in today’s world. It is important to ensure that email marketing team and social media team are working together. Otherwise the marketing efforts may not be very effective. This approach also saves money.
A study has revealed that Facebook campaigns get a 50 percent lift when supported by email and 100 percent lift when supported by multiple email campaigns.
Twitter campaigns get a 20 percent lift when supported by email and 40 percent lift when supported by multiple email campaigns. The study was conducted by Yesmail, a leading provider of enterprise email marketing software.
Managing the cost and quality of your leads efficiently is one of the keys to success in today’s business environment. This can be achieved by incorporating the above-mentioned tips into your marketing strategy.
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Marketing Tips: How To Manage The Cost And Quality Of Your Leads
