By Kieran O’Brien Kern.
When it comes to lead generation, the newest, sexiest channels get the most attention. While digital will certainly be the darling of LeadsCon Las Vegas this year, the quality of the leads generated by digital channels excepting search lacks in comparison with some of the more traditional channels. Dave Smith, Incremental Media Founder & CEO, has seen the landscape from the client and agency side. Alongside client 3DayBlinds Chief Revenue Officer Dan Williams, Smith will share his 33 years of experience in the session “How To Utilize Offline Channels to Cost-Effectively Generate Quality Leads.” His agency drives conversion through insert media, print, direct mail and digital channels.
Why settle for a weak lead? He asserts that the quality of the lead is most important when measuring ROI. “Outside of search, a lot of digital leads don’t convert. At Incremental, we stopped doing incentivized offers and affiliate programs because the quality of the leads was so poor,” Smith explains.
He notes that contrary to popular belief, print is alive and incredibly robust, and indeed, people are still spending millions of dollars for the higher-quality leads it delivers. Facilitated by index data targeting new and established homeownership, income, age and other targeting demographics, they use data to match a product or service to the person most likely to purchase it.
While it’s true that any channel can target products and services to specific markets, digital channels (outside of search) usually generate a digital response while service-related print collateral lead to a phone call. According to Smith, between 80 and 90 percent of those calls lead to an appointment and two-thirds turn into legitimate high-quality leads. “Phone calls convert at a higher rate,” he explains.
Offline channels save money over their digital counterparts through their “incredibly low” CPMs. The CPM of a full page is approximately $3, the same price as a banner ad but more efficient. While the return on investment varies by industry, Smith estimates that the ROI on offline channels is between 3 to 10 times for every dollar spent. Direct sales generate about $3 with higher ticket items, which earns a greater ROI.
The type of offline engagement is based on whether they are marketing locally or nationally and who they are marketing to. For example, product inserts have a high level of success for a marketing campaign targeted nationally. Those looking to connect with and convert an audience in their golden years will find greater engagement through catalogs, home services mailers and inserts.
While the initial costs are not as low, the return is higher and better. “Why waste time spinning your wheels with low-quality leads? Offline channels offer a higher-quality conversion,” Smith explains.
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