Attracting prospective customer’s attention towards the business and transforming them into leads is the main aim of every business. Cost per lead has always been a concern for companies who are trying to grow their customer base. They go to different vendors with an aim of reducing the cost per lead. However, in this blog post I wish to preset some points which can help you achieve optimal cost per lead.
Adwords Experience – Google AdWords, a self-service platform, enables you to set up and manage your PPC campaign yourself. However, most of the small and medium sized business owners don’t have the time, expertise, and techniques required to maximize the Rate of Investment (ROI). You need to have knowledge and experience of AdWords management to derive the maximum from it and keep your cost per lead at low.
Comprehending the Company’s Sales Funnel:
Most of the companies avail of this tool to decrease the cost per lead. Understanding Company’s business model is important to know the amount to be paid per lead and per click. PPC specialists can work with an account manager to understand the sales funnel of a company. They can also gain knowledge about their visit-to-lead ratio, lead-to-sale ratio, and profit margins for each product and service sold.
Understanding of Company’s Industry:
An understanding of the company’s industry helps a lot in reducing cost per leads. Having good knowledge of seasonality, well-performing keywords, and more, the number of leads can be increased while keeping the cost at minimum. If you are looking for the lowest click possible then it will be worth investing some time on finding an SEO company which is equipped with knowledge about your industry.
More About Sales Funnel:
Most of the companies find a problem with using their sales funnel when it comes to managing the PPC campaigns. The problem is that they don’t have much knowledge about important business metrics. Most of the businesses don’t have any idea about their visit-to-lead conversion rate; and when they try to estimate their lead-to-sale conversion rate, they estimate it higher than it actually is. It may take some efforts to find out these metrics yet it’s the only way to manage PPC bids in a most logical and cost-effective manner.
Companies, providing PPC campaign management services, can help you accurately track, record, and tag all your client’s calls. This way the number of phone calls, which were actually leads, can be tracked. It also becomes possible to track the leads that turn into sales.
Bringing Down your Cost per Lead:
Once you have gained enough knowledge about company’s sales funnel and you have figured out the optimal visit-to-lead conversion rate and maximum cost per click, following strategies can be implemented.
Lower the cost per click – This is achieved by improving ad relevancy and Quality Score.
Enhance the click-through-rate – One way of doing this is by testing out different calls-to-action
Enhance the conversion rate – To achieve this you can add a sidebar contact form.
Being a versatile tech blogger, Michael Waugh has an enormous knowledge in diverse IT domains. Currently he is placed in Potenza Global Solutions; a India based IT Company that deals with Organic SEO Services.