What Does it Take to Get a Good Lead?
What’s funny about this question is that as we were researching it, we came across two different types of answers. Almost everyone who answered made a plug for their particular email marketing service, naturally. On Quora, Some individuals gave simple, direct answers with a range of prices to expect for your acquisition cost. Others tiptoed around it, offering long, drawn-out explanations of the process and the variables, and never seemed to get to the point. There’s actually a good reason for that, though.
Every Industry is Different
The acquisition cost of a lead varies somewhat depending on the industry. In some contexts you can justify spending hundreds of dollars per lead. Of course, that only makes sense if the sales that happen at the end of the funnel are high enough. In other situations, spending more than one dollar per lead would be outrageous.
What makes the difference, partially, is how you define the process. You can talk about just the cost of obtaining the lead information itself, or you can factor in all the costs associated with nurturing that lead as far as it wants to go through your sales funnel. Either way, you have to work with your sales and finance teams to determine what’s the right strategy for your company. There’s one factor that stands above all others, though.
Quality is Waaaaaay More Important Than Cost
How you get your leads makes an enormous difference. Simply buying a list of email addresses and other contact info may be fast and cheap, but it can also put your brand at risk. Reaching out to leads that were not organically generated can often be perceived as spamming.
The better way to get your leads is by generating genuine interest. This is done by creating valuable and engaging content, including some which is available exclusively to email list subscribers. When you get a lead who voluntarily provides their email address, you already have their attention. That dramatically increases the possibility of a future conversion and sale.
Obtaining leads by building an email list organically may have a higher initial acquisition cost. That’s because of the content you need to generate. This process pays dividends further down the sales funnel though, with much better conversion rates than any purchased email list will ever get you, and a better brand reputation.
At Boom Demand, we help our clients build organic email lists, create interesting and useful content, and scale their operations as fast as they need to. Contact us today to start building a powerful lead generation campaign!