9 Must do’s to generate more leads in today’s world!
Marketing in it’s simplest form is buying customers. As a business owner you must know what you’re willing to spend to gain a new customer, create a budget, set goals, market, track, adjust, and market again.
Determine the lifetime value of your client.
- Average Dollar Sale
- Number of times your client buys from you
- Average number of years your client buys from you
|Average Dollar Sale||$100.00|
|Average Number of Purchases in One Year||6|
|Average Number of Years We Retain Our Clients||3|
Determine what you are willing to spend per client.
- If the average lifetime value of your client is $1,800.00 would you be willing to spend $100.00 to get them in the door? Would you be willing to spend $300.00? You must determine what you’re willing to spend for a new customer.
Create a budget with an allowable acquisition cost per client and set a target goal.
- If a marketing strategy requires a $300.00 investment and your allowable acquisition cost per client is $100.00 then your goal should be to gain a minimum of three clients. Any less than three clients and your acquisition cost just went up.
Target your client.
- Since you know your target market, use mediums that they actively use. If you are unsure of who your target market is, stop and DEFINE YOUR TARGET MARKET!
Create the offer.
- Be clear and specific in your strategy. Tell your client what the specific offer is.
Give them a call to action.
- So often advertisements lack a call to action. Customers are left with basic information about a company with either no offer or instruction to get the offer.
Track your leads.
- If your strategy isn’t generating any leads you may want to change your medium, your offer, or your call to action. If it’s generating leads as you expected you may want to boost your marketing with the medium.
Track your conversion rate.
- What good are leads if you don’t close them. They are absolutely no good. As a matter of fact. They are costing you time and money. If you’re not converting leads you may not have set clear expectations. Or you may just need to just get better at closing the sale. If your prospect decides not to buy ask them why. Be sure to explain that you’re collecting this information to improve your message in the future.