Corey: So you really just have to go through that exercise as a business when you’re building any lead strategy and make sure you have a really clear objective there.
Corey: There are 2 elements to this. The first would be standard details that are required of any ads so this is not exclusive to lead ads but that’s obviously the creative and the strategies. So targeting, ad copy, imagery, etc. I’m not just saying those need to be great, that’s obvious, but they need to be conducive for a lead strategy. Why are you trying to generate a lead? What are you hoping that the lead expresses an interest in? What copy and creative would push them towards that? So that goes without saying – that’s the number one bullet point of any advertising strategy. But the second thing that’s often misunderstood and is not executed properly would be understanding the balance between quality and quantity of leads. Everyone would say, “I want the most leads that are most qualified”. That’s obvious, but that’s impossible.
With that said, you need to consider things like what type of data do I want to collect for our sales team to then go execute on? Is it just name, email, and phone number? Do I need a business name? Do I need their website? Do I need to know how much money they are willing to invest in this solution? You could add a list of 30 questions that lead form, if someone submits then you have the most quality leads you’ve ever had, but you might be paying crazy crazy amounts of money waiting for that lead to come through. So finding a good balance right there is what’s challenging.
We obviously work with a ton of businesses that keep us engaged and push us to make sure we’re executing on both sides of that spectrum as well as we can be; but it’s important that businesses go through that exercise and ask themselves, ”Do we have a target cost per lead? Is it realistic that we can hit that target CPL while also collecting all of the data that we’d like to collect?”
It’s pretty standard marketing knowledge that any time you add a new data point to any lead form, you’re going to worsen conversion rates. That’s just pretty standard almost across the board in any lead funnel. So you really just have to go through that exercise as a business when you’re building any lead strategy and make sure you have a really clear objective there.