To keep the mouth of the funnel full at all times, you need to activate lead generation channels. The two major groups are:
- Prospecting: You approach potential customers.
- Ads: Potential customers are looking for you.
In this article we will deal with Ads.
Currently the best channels are Google and Facebook. Linkedin runs the other way.
These are channels where you put money up front and they deliver leads to you.
The main characteristic of this type of channel is the volume of leads they generate. However, they have low quality, that is, low conversion, if compared to the prospecting channel.
What you need to advertise:
- Setting up Campaigns: Landing Pages, audiences and ads
- Monitor your metrics on a daily basis
- Reworking campaigns
Do not fall into the illusion that a winning campaign will perpetuate itself. Campaigns that generate excellent results do not last more than 15 to 20 days. That is why it is necessary to permanently reassemble them.
You know if a campaign is going well when it generates the desired volume of leads, at the maximum planned cost and the conversion of those leads is at the planned rate.
Example.
Campaign goals:
- Month: July
- Investment: R$ 6,000.00
- Leads to generate: 60 (CPL - Cost Per Lead: R$ 100.00)
- Conversion: 3 clients (5% conversion)
- Sales cycle: 50 days
- CAC (Customer Acquisition Cost): R$2,000.00/customer (6,000.00/3)
What these goals say: That we will invest R$ 6 thousand in July in a certain media and that it is expected that 60 interested companies will come to us (leads) at a cost of R$ 100,00/lead (6.000/60) and that after 50 days in average (counted from the generation of leads) we will have 3 new clients, in other words, we will convert 5% of the generated leads into effective clients.
Those are the goals.
Now let's simulate an outcome of that campaign after July.
- Month: July
- Investment made: R$ 6,000.00
- Leads generated: 100 (CPL: R$ 60,00)
- Conversion: 2 clients (2% conversion)
- Sales cycle: 70 days
- CAC (Cost of Customer Acquisition): R$ 3.000,00
Here we were above target in the volume of leads generated (100 versus 60) but we were below target in customer conversion (2 versus 3) and still the sales cycle was a little longer (70 versus 50 days).
So notice that even though the volume of leads was better the campaign was below target and the CAC (Customer Acquisition Cost) was above (£3,000 versus £2,000).
So when you hear something like "Look, this campaign will generate 200 leads" be very careful. Leads don't pay bills, only customers do.
The primary target is the number of new customers acquired and the value of contracts.
Let's address return deadlines for online media.
It's fast. You advertise today and within a week the leads start coming in. That's if you get the tripod right-Public-Offer (text)-Image, which may seem a little difficult at first because of the enormity of options when it comes to parameterising the campaigns.
In any case, in a single day well worked out and with focus you get your ads on air and start your learning curve.
It can take anywhere from 6 months to a year, even a few more times for you to model what works and what doesn't and start being more assertive and quicker in getting your campaigns rolling.
Advertising should not be an occasional activity but should enter your schedule for real and be part of your daily routine.
Note that I mentioned daily routine. Advertising on digital platforms requires daily management. It's not like advertising in a magazine or doing brochures, where you publish and wait 10 days. On Facebook you advertise and monitor the results a few hours later, uninterrupted.
Measure everything. Think "marathon" and not "100-metre dash".
In the end, it all comes down to how much your market values your offering. No campaign, even if exceptionally executed and managed, will make the corporate market buy something of diffuse or even unnecessary value.
Your offering strategy is key in this regard. Offer something that is low-friction, i.e. think about an entry-level product that grabs the attention of action takers.
The results in the end are good. Sometimes very good.
