Over the last 10 years I have been fortunate enough to see the highs and lows of performance within the internet marketing industry. In today’s digital landscape it has never been harder to capture attention and to BE HEARD.
With that in mind, I want to share with you five major lessons that I’ve gathered from generating 2M+ leads.
1. Know EXACTLY how much you can spend to acquire a lead
This is hands down the fastest way to scale your business. I’ve personally spent over $2M+ on paid advertising and ad spend across our client portfolio at Claxon is in the many, many millions a year. But this kind of spending wouldn’t be possible without knowing exactly how much we can invest to acquire a lead or sale.
Too many businesses have unrealistic expectations surrounding what they want to invest, versus how much they can invest to acquire a sale. The numbers don’t lie. Once you understand the math, the guesswork is removed.
2. Lead generation is only one piece of the puzzle
Focus equal, if not more attention on increasing your lead to sales conversion. By doubling your sales conversion, you could effectively halve the number of required leads. Sounds simple. It is.
Yet so many businesses spend a disproportionate amount of time seeking new leads rather than increasing their ability to close the leads they already have.
Using paid advertising to enhance the unique and bespoke customer journey sequence can drastically increase conversions.
3. Competitions and giveaways are absolute GOLD, if done correctly
A campaign we ran for a client generated over 10k leads in 24 hours and over $60k in sales. Want to know how we did it? It wasn’t by giving away an iPad or a car.
The key secret to creating any competition that returns $$$ quickly is to give away the 6-star version of your product you are trying to sell on the back end.
If you’re a travel agent whose core goal is to book holidays, don’t just give away a holiday to attract prospects. Give away a holiday for an entire family, or a boys/girls weekend. Include private pick up by limo and champagne breakfast. Make it a share-worthy experience.
The point is to make it extremely compelling for someone to enter and keep it in alignment with what you are offering.
4. You MUST know thy customer and their journey
That’s basically 2 in 1:
Know thy customer.
Know thy customer journey.
In order to get your prospects to take the next step, you must understand what motivates them to take action. By understanding where they are in your buying cycle, at the micro and macro levels, you can effectively enter the conversation that’s about to happen in their mind.
When you master this, your business will never be the same again.
5: Create compelling offers for your prospects
I often get asked, “What’s the best type of lead magnet or opt in (aka compelling offer) that I can use to grow my database?”
Answer: Whatever would interest your prospects most and compel them to take action.
Take your pick:
- White paper
- Video series
- Free gift
- Discounted offer
- Free trial
- Audio program
The problem then becomes, what compelling offer type do I select?
Test as many as you can and see what works.