During tough economic times, customer acquisition efforts are more critical – and challenging – than ever. Tightened budgets and reduced resources mean that marketers can no longer afford even the slightest waste in their acquisition programs. Precision and efficiency are essential.
Ontarget works with you to look at your current customers and create segments as defined as possible. Segments provide us with the detail targeting characteristics that we can purchase media against.
Before we go off and just start driving leads your way we need to know what your average order size is, your customer lifetime value and your conversion rate. We use this information to drive the maximum cost per lead. Our job is to find good leads at a rate below your maximum lead measurement. We have programs where we can purchase media on a cost per lead basis. These programs have to be managed because not all leads are the same.
How To Start An Online Lead Generation Program
The first thing you need to do is segment your customer base into segments. If you're going to spend money on generating leads you should target those prospects that look like your best customers. You may have this information in a database or CRM system or you may have a good feel due to your business experience. The main thing is to focus your efforts on your best targets.
The next thing you have to create is a digital sales funnel. How are leads coming in and what happens along the way until the prospect either goes off the radar or becomes a customer. There isn't one process for every company.
In the middle of all this are the various creative ads, targeted media acquisitions, offer, automated follow-up and sales automation integration. All of this should be slanted based on your prospect segmentation.
The last thing is reporting and continual testing. Don't try to report on everything. Concentrate on the steps that are important to the conversion process. Think of it as your digital lead generation KPI's. It's also important to run A/B testing along the funnel in order to continually improve your conversion rate which lowers your cost per lead.
When you mix targeted marketing with digital technology you get positive results.