by Kieran O’Brien Kern.
The joy and the pain of lead generation revolve around the value of the lead being subjective to the owners and the buyers. In the Wild West of engagement, ROI is determined by the quality of your data and what you do with it.
So how do you get the most impactful value that drives the greatest return? Jeff Feuer, president of Warm-Transfer.com, and Vin Turk, co-founder and senior vice president of Audience Development at Madison Logic, will share their knowledge and perspective on the value of leads and maximizing the ROI from those leads at this year’s LeadsCon Las Vegas.
Jeff Feuer notes that the life cycle of a lead’s value is what the lead buyer makes of it. Different data points in the same lead will resonate with different people at different times in their sales journey. “Two people in the same industry will find different value in the same lead.” He advises that the best way to determine what you or your company is ready to spend on a lead is to consider both your selling process and the lifetime customer value. The cost of acquiring the customer should be below the cost of retaining the customer.
The costs vary widely between industries based on the cost of the product and again the lifetime value of the customer. Feuer stresses that in the bidding process for leads, knowing costs and customer value makes the difference between overpaying and losing money, underbidding and losing the lead to someone else, and finding the sweet spot.
With lead in hand, how do you squeeze the most return on the data? Madison Logic’s Vin Turk notes that using leads has evolved from having an in-house person or team who had the luxury of time when creating a plan for a streamlined process of creation and distribution in real time. With the saturation of smartphones, the end-buyer has multiple vendors’ information for evaluation at a swipe. Their decision process is open for public discussion. Social media outlets and forums offer the opportunity to discuss vendors and vent frustrations about them with peers who may be having the same issues.
One of the ways to ensure successful engagement is to maintain up-to-date quality data so that you know your buyer’s intent. This is increasingly possible because of the scope of available data. From address to likes, your message or approach can be specifically tailored. However if your campaign isn’t resonating and ultimately converting to sales; be ready to adjust everything in your content marketing down to the most basic elements.
To learn more about maximizing your leads, you can hear Jeff Feuer speak as part of “Calculating Cost, or How Much Should You Pay for a Lead?” and Vin Turk at “Finding Return when Measuring Buyer Intent, Behavior & Targeting” during LeadsCon Las Vegas.
Click here to register for LeadsCon Las Vegas 2016.