How to Reduce Your Cost/Lead – Find Out What Else They Like
Do you like saving money?
Of course, you do.
Making money is just as exciting as saving money.
Besides, money coming in is same as money going out, right?
Same with online lead generation.
While I never advocate that companies try to duplicate the efforts of professional online lead generation companies, if you do, here’s a great way to lowering your CPL (cost per lead).
Killer Competition = High Costs
Do you know how much a CLICK (i.e. one single stinkin’ click) for “mesothelioma” goes for on Google?
If you’re a mesothelioma lawyer putting an ad out on Google, you better be willing to pay $200 per CLICK.
Does this mean $200 per LEAD? Heck no.
If your lead generation form performs WELL (i.e. the landing page is very convincing)… and you have a TIGHT adwords campaign, you’ll probably do about 1-3% conversion ratio.
In another words, your CPL will be between $6,700 to $20,000.
Yes, 1 SINGLE lead.
(Why do people bid this high? Simple if 1 in 10 leads turn into a multi-million dollar lawsuit, the payment will MORE than cover the cost of the ads.. PLUS some.)
If you’re a small time mesothelioma lawyer, I’m pretty sure you won’t have the kind of budget to warrant this high a bid.
So what do you do?
Be a ninja.
Attack from the Side, NOT from the Front
If your competitor is fighting with his wallet, you have to fight with your head.
There are OTHER ways to get your lead’s attention other than just bidding up high and bleeding your wallet.
Simple: Find out what ELSE they like and try to get them there, because the odds are that the cost of buying that traffic will be much lower.
Does this cost money?
Nope. It’s free.
Best part? Your competitor has done the work FOR you.
Ad Planner to the Rescue
Google Ad Planner gives you insight on this thing called affinity.
In another words, they tell you what other sites a visitor X might be interested in.
For example, Solar City is a BIG time player in the solar market that heavily promotes and advertises it’s website.
Enter in the Solar City’s URL and what do you get?
The visitor’s age, sex, what other sites they might like, and voila… their interest categories.
What does this mean?
It means that people who like solar are also VERY VERY into house painting …
Imagine, taking out ad space on blogs, news, and media sites that are focused on house painting.
More of then than not, there are people who like solar on there (by affinity of 62.7x => some random metric Google came up with.)
Advertise on those sites.
Find out what these mesothelioma people are searching for by looking at “related” searches in Google as well.
Apparently, “asbestos”, “lymphoma”, “steve mcqueen” are also very related.
If so, find out what sites these pages link to.. then buy ad spaces there.
Buying ads for lead generation is about being flexible and being smarter than your competitor… like Bruce Lee said…
Empty your mind, be formless, shapeless – like water. Now you put water into a cup, it becomes the cup, you put water into a bottle, it becomes the bottle, you put it in a teapot, it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
I’m hungry… I want some Chinese food now.