– Inbound Leads are only good for your business if you?re Converting enough of those Leads into Customers. Conventional marketing wisdom once suggested that having more Leads was always better than having fewer Leads.
That wisdom only holds up if your cost per Lead is low, your Conversion rate is high, or both. ROI Marketing is all about keeping your Lead generation costs low, so your Conversions have more impact.
ROI Marketing for Cost Reduction
Targeting the right markets is the first step to low-cost Lead generation. Using SEO Best Practices, Social Media, and Paid Searches in the right way helps your business attract Leads that are predisposed to becoming Customers.
These methods allow you take a more targeted approach, focusing on people who already have some interest in your products or services. Advertising to people who have no interest in what you?re selling is a waste of your time, effort, and money. Attracting the right Leads in the first place will make the rest of your ROI Marketing campaign much more effective.
Too Many Leads Can Cost You
At the top of the sales funnel, Leads aren?t costing you very much. Most of your processes are automated, and the quality of your website and content is helping to keep your Leads interested and engaged. Once they?re interested enough, they?ll naturally move farther into the sales funnel. A problem arises if Leads are moving farther into the sales funnel before they?re truly ready to become Customers.
Once they move from Leads to Prospects, you?re investing more time and money trying to close the deal. If a large percentage of them move back up the funnel, or bounce out entirely, your cost per Lead goes up dramatically, derailing your ROI Marketing efforts. This is why you need to make sure that only highly qualified Leads are moving farther into the funnel.
At this stage, you’ll have a huge number of Leads–now you need to decide which ones to focus your efforts on. This is where analytics play such an important role in ROI Marketing. The right analytics will tell you which Leads have become Prospects and are ready to deal directly with an agent, and which still need to be nurtured using less expensive methods, such as e-mail campaigns.
Using this method, you?ll save your more expensive sales channels for the highly qualified Leads, making more sales and keeping your costs per Lead low. The information you gain from the analytics will also help you tailor your Content Strategy to better help you nurture the Leads still at the top of the funnel.
ROI Marketing as a Two-Pronged Approach
Effective use of ROI Marketing lets you cut the cost of finding inbound Leads in two ways. By using a targeted marketing campaign, you’ll spend less money on Leads that will never pan out. It will also help you spend your marketing dollars more wisely, focusing your more costly efforts on the Leads who will most benefit from them.
Using this dual approach, ROI Marketing is a great way to cut Lead generation costs, while also maximizing the chances that the Leads you do get will move quickly to becoming Customers.
Marketing Matters Inbound?is an inbound marketing firm specializing in online conversions, content?strategy, call-to-action mapping and traditional media placement. Our experience in B2B digital?marketing and traditional media allows us to deliver results through a strategic media mix. We believe in?aligning and merging marketing and sales/operations for optimal return on your marketing investment.