The EASY Way to Get More Leads

Customers are the lifeblood of all businesses. Get more customers, and you’ll generally generate more revenues, more profits and you and your shareholders will be happier.

So what are the best ways to generate new leads for your business? Certainly there are many tactics to choose from: direct mail, radio advertising, referral programs, and so on.

Particularly over the past decade, smart businesses have learned that one of the easiest and most cost effective ways to generate new leads is going online.

One of the benefits of online lead generation is that it’s quick. For example, rather than taking a month and spending thousands of dollars producing and getting a radio, TV or print ad to run, you can literally start generating leads online within an hour and at a very low cost.

But the real beauty of online lead generation is the metrics: you can track everything extremely closely to tell precisely how much money you spent, and what your return on investment is.

On the other hand, traditional advertising like television, print and radio are much harder to track. For example, it’s very hard to accurately tell if a new customer came to you from a print ad or a television ad, and it’s even harder to tell which ad they responded to (e.g., the ad from newspaper A or the ad in newspaper B).

So, let me give you some tips and steps for creating an effective online lead generation campaign.

The first step is to determine what a lead is worth to you. For example, is a lead (for now, let’s define a “lead” as someone who visits your website) worth 10 cents to you? 25 cents? 5 dollars?

Clearly, you need to understand what leads are worth to you, so you can generate leads at a lower cost than that amount.

So, how do you determine the value of your leads? The answer is to know, track and constantly improve your conversion rates. Conversion rates refer to the percentage of website visitors who take the actions you desire.

For example, let’s say that for every 100 visitors that come to your website:

• 3 buy one of your products or services from your website

• 4 fill out your contact form

• 2 email you

• 6 call you

In this example, 15 visitors took a desired action; or you had a 15% overall conversion rate. And your conversion rate on buying online was 3%, on filling out the contact form 4%, and so on.

The next step is to determine how much each of these conversions is worth to you. For example, let’s say:

• Your average product or service sale on your website generates $50 of gross profit

• 25% of people completing your contact form eventually buy from you at an average gross profit of $100 each

• 50% of people who email you eventually buy from you at an average gross profit of $75 each

• 33% of people who call you eventually buy from you at an average gross profit of $150 each

In this example, for every 100 visitors, you would generate $625 in gross profit as follows:

• $150 in gross profit from online sales

• $100 in gross profit from contact form conversions

• $75 in gross profit from email conversions

• $300 in gross profit from telephone conversions

Which means that every visitor to your website is worth $6.25. And as long as you can drive visitors to your website at less than this amount, you will generate profits.

Importantly, as mentioned above, not only must you know your conversion rates, but it is critical for you to continue to test and track to improve your conversion rates. For example, by changing the layout of certain pages of your website, you could boost overall conversions by perhaps 25%. This would mean that the average value per visitor to your website would jump from $6.25 to $7.81.

Not only would this jump allow you to boost profits, but it would enable you to outspend your competitors and advertise in places where they can’t (since they perhaps generate only $5 per visitor). This is how you can truly dominate your market.

*God Speed*


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