Tag Archive | Leadership in Business

The EASIEST Way to Get More Leads

The EASIEST Way to Get More Leads

By Dave Lavinsky

Typically when I ask entrepreneurs and business owners what their number one challenge is, they reply that it’s getting new customers.

And one specific question I often get is which are the best ways to generate new leads and customers? 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.

Two of the benefits of online lead generation are that it’s quick and inexpensive. As you can imagine, it could take a month or more and several thousands of dollars to produce and run a radio, TV or print advertisement. Conversely, you can literally start generating leads online within an hour and with a budget of less than $100.

However, in my opinion, 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 calculate your return on investment.

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.
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