How much are you spending on leads? If it’s costing you too much, it may not be worth the price of landing the sale. Lead generation is an important part of every marketing plan, but, of course, you want the cost to be as low as possible.
If you’re looking to decrease your cost per lead, your best bet is to invest in inbound marketing—the new standard in today’s internet marketing.
Here are some ways you can use inbound marketing to lower your cost per lead.
Start Blogging to Attract Traffic
The ultimate goal of inbound marketing is to pull interested clients to your product. You do this by providing a variety of ways for said interested clients to find your website and content. And one of the best ways to exist higher in Google’s rankings is with a quality blog.
By putting a blog on your website—one that is active and producing useful, entertaining, and engaging content—you’ll draw in the crowd, which means less time spent (in time and money) going out to try to bring an audience in. As people do research, they’ll find you. When you don’t have to go out chasing leads, you save money that can be redirected into your inbound methods to draw in even more people—people with a pre-existing interest in your product who are thus more likely to make a purchase.
Create and Optimize Landing Pages
One of the key elements of a great inbound marketing strategy is a quality landing page. A landing page is the webpage you want visitors to land on when they come to your site. But it’s not just a page on your website. A good landing page is optimized with minimal text, a focus on the call-to-action, great visuals, and more, which should encourage visitors to convert. This provides you with a way to contact an interested person again later, at which point you start the lead nurturing process.
The better the landing page, the more visitors will convert.
Create Informative, Value-Added Whitepapers
Whitepapers are larger documents you put together that demonstrate why you’re the expert in your field. They’re not flyers for your products; they’re documents with useful information that supports whatever problem-solving your product also supports. They inform people on industry standards and legitimately teach something visitors may not know.
Whitepapers are going to cost you, but here’s the trick: they only cost you once. After writing that paper and designing it, you can use it over and over again. The longer it’s up on the internet, the more people it will draw in. Compared to the cost of a TV spot during the Super Bowl (or any prime time), you’re saving a lot. Pair your whitepaper with your optimized landing page and you’ll effectively lower your cost per lead.
Invest in Social Media Marketing
Social media isn’t actually free. Sure, your company can start an account at no cost, but you’ll need someone dedicated to managing it and creating regular content to help drive traffic to your landing pages, blog posts, and website. Still, it’s a lot more affordable than mailing pamphlets around the world or paying for a costly radio ad. The difference is, in drawing people to you, you’re spending a heck of a lot less—and you’re spending it on a targeted audience—drastically lowering your cost per lead.
By investing in inbound marketing, you can lower your cost per lead and increase your bottom line significantly.
Posted By Author Mike Lieberman, CEO and Chief Revenue Scientist
Mike is the CEO and Chief Revenue Scientist at Square 2. He is passionate about helping people turn their ordinary businesses into businesses people talk about. For more than 25 years, Mike has been working hand-in-hand with CEOs and marketing and sales executives to help them create strategic revenue growth plans, compelling marketing strategies and remarkable sales processes that shorten the sales cycle and increase close rates.