Lead generation for everybody
MyIntroducer.com10-19-2009
Every company that utilises lead generation to source new business will be different. Some businesses will be big national brands that use call centres and churn out thousands of sales a month.
Others may be small adviser firms completing a couple of cases a week.
The great thing about lead generation is that it can work for both these types of companies and all of the ones in between. However, each company will require different things from lead generation.
Before undertaking any lead generation campaign, the most important thing to do is define what success and failure is for your own business. Do you know your average commissions from a sale? Do you know your customer acquisition targets? Do you know what percentage of business you can cross-sell into other products? If the answer to some or all of these questions is “no” then you probably should work out these basic metrics before you start buying leads!
With the online behaviour of consumers changing by the month and the current uncertain economic climate, measuring lead generation purely by conversion percentages is rapidly becoming a thing of the past. If you have a budget of £1,000 to spend on a lead generation campaign, you should first work out what return you need from this budget to make it worthwhile and then do some basic financial modelling to work out various scenarios.
These scenarios should enable you to analyse what your return will be given different conversion rates, lead prices, cross-sells into other products etc. Once you have done this you will be in a much better position to make lead generation work for you. If you work out all the variables that will impact on your return on investment then you can change things to constantly improve performance until you hit your targets.
So whether you are a small adviser firm buying one lead a day or a large finance company that needs hundreds of leads a week, lead generation can work you’re your business but all prospective lead buyers should have a benchmark for success before they buy their first lead.
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