Empower Your Business with airSlate SignNow for Lead Generation Lead Conversion in Affidavits

How to create outlook signature

if you're not handling lead gen properly then your business is going to die I've seen so many businesses run lead gen app that have no idea what they are doing and it completely runs their business into the ground if you want to see your business grow like a wildfire instead of collapse upon itself you'll want to know these seats I'm about to drop now before we get started take a second go ahead and hit like don't forget to subscribe ring the bell so you don't miss anything else with that being said let's dive into it now lead gen is one of the most important parts of business especially for people that aren't in the d2c space however if you start to think of e-commerce as just lead gen and a converting customer as just someone who buys a second time it's actually the same thing we have to keep in mind that Legion is damn near essential for your business to grow if you can't find new customers if you're only relying on Word of Mouth yes that's sustainable but that's only going to keep you where you're at it's never going to get you to where you deserve to be and once you can start to create Demand on demand at scale or for you Brits the world's your oyster card hop on the tube and let's get going so elephant in the room Facebook ad why do we run lead gen on Facebook well it's not necessarily the only place they have to run ads but it is the place where we're going to have the most stable and widely accessible access to new people in a way where we get to control the conversation and have the least amount of competition for that attention on the internet now there are a lot of other places where you can go and use targeting with keywords and all of that stuff to try to compete for people who are ready to go and the honest truth is the folks that win that game have the lowest price the most reviews or the biggest pocketbooks you don't need any of that to win on Facebook because it's Superior to everything else when it comes to targeting let me explain we know three things to be true number one Facebook ads do the Target and number two on Facebook all you're ever buying is attention and the success of your business is directly dependent on your ability to monetize that attention and number three the right kinds of attention are going to get you much better conversion rates and before are easier to monetize than the wrong kind and with Facebook ads and proper measurement of your results and optimization of your creative there's literally no easier way to scale this to the moon so let's take a moment and dive into what data actually matter when it comes to lead gen because honestly you're probably looking at all the wrong stuff first cost per lead yeah we care about it but not really what about conversion rate no don't care about that either there's actually other things that matter far more now I'm not saying that the cost per lead is completely irrelevant and I'm not saying the conversion rate is completely irrelevant what I'm saying there's a maximum capacity for overall leads that you can handle and optimizing for the lowest costs give you far too many leads than you can actually handle is a problem focusing on only the best converting leads ever and leaving your sales team not busy 70 80 of the time that's also a problem what we need to do is understand something very important these are things we call the value the volume and the cost so let's get into the most important things that we need to understand when it comes to lead gen ads we have to look at the unit economics of the attention that we're buying and this breaks down into three categories value volume and cost and in general the higher the value the higher the cost and as such the lower the volume and inversely the lower the value the lower the cost the higher the volume now here's the thing if you can categorize your lead into bad good and great just by how they fill out a lead form maybe some people include their email maybe they don't maybe they have a certain job title or maybe they don't maybe they include their phone number or they don't maybe they live in a certain part of town or answered a certain question in a certain way and if you can use that to validate that leap categorize it into bad good or great we can pass that information back to Facebook now what this means is we can have custom conversion events for each one of these offline events that are passing back to Facebook bad good and great and now we can evaluate the Creative Concepts that we're running as as buying bad good or Great Value which means we can begin to organize our ads by what volume we ultimately need to have now let's say you can handle 10 sales calls a day if you only bought three great leads every single day well that means seventy percent of the time you could be spent talking to people you aren't we could also inversely Drive 20 bad leads a day and you wouldn't be able to talk to everybody there's going to be a balance and this is what's most important now we can begin to budget our Concepts and organize our creative testing strategy around what types of leads do we need to get Mora we're not trying to get them for the lowest cost and we're not trying to Drive the highest conversion rate no we're trying to say a perfect mix for me might be something like well 50 great and thirty percent good and honestly I can handle twenty percent of bad just because one out of a thousand of them is gonna be good for me which means now we can budget our spend and organize our creative testing strategy around the types of attention that we're buying not the cost or the conversion rate we can go in and say the perfect balance for my business might be something like I can afford to buy 70 great leads and I want thirty percent good leads they're not as good but I get more of them and basically that means that my call center is busy all the time and I know what kind of ads attract the type of attention that is ultimately leading me to a bad quality lead and I can just stop running Those ads and what this means is we can ultimately now budget for what is the cost of a great lead what is the cost of a good and more importantly how do I stop running ads that buy me badly and maybe be fair sometimes the great leads are cheaper than the bad ones and sometimes those bad leads well they might be the best ad you have running so now we get down to the most important part what is an actual lead worth and what this means is you might have the same aov for every single lead anybody that buys is a hundred bucks but if one out of 10 people who are a great lead by that means that lead is worth ten dollars if one out of 20 good leads Bob that means it's worth five dollars right because a hundred divided by 10 10 100 divided by 20 is five maybe your bad leads are only worth a buck 50. but maybe they're getting 25 to 30 percent of your spend because you're not actually looking at what type of attention best converts now we can go and say what I want to do is get better at buying great leads and I can start to do creative testing to make the acquisition cost of great leads better while monitoring the conversion rate of those great leads if I can reduce might cost to acquire a great lead by 20 and I actually lose the conversion rate of say 10 on it that's a good investment because ultimately I'm still getting a higher volume of great leads and I can pay for that by spending a little bit less money on the ads that drive me good leads so ultimately now I am running this like an Investment Portfolio with my primary objective saying I want to spend every dollar I've got budget and I don't want there to be any downtime and opportunity for me to contact Lee and ultimately I want to in a projectable fashion understand the value the volume and the cost of the leads coming from Facebook and I can begin to work very specifically on what aspect of my mix I want to improve upon fun fact sometimes the right move is to just make those bad leads worth a little bit more and if you can take a bad lead and make it worth two dollars instead of one and it only costs you a buck 50. it might actually be the best thing for you to invest on if you've got unlimited in capacity to handle those leads perhaps you have a SAS with an email address why are you buying more expensive higher quality leads that ultimately inhibit your overall profitability upside that's something to think about now I've learned this from running eight nine figure SAS companies and building lead gen agencies around the world it really comes down to the unit economics of the value the volume and the cost of the attention that you're buying and then prioritizing that with a budget to maximize your Investment Portfolio now if you want to maximize your value as a marketer and improve the volume of business that you can get and do it for a really great cost check down below and look at the disrupter school you can join for a seven day trial which means you can bail any time that you want and there's also a quarterly billing option and if you want to invest even more to get an even greater output down below that is the Facebook ads MBA program also if you have any questions on this stuff or you want to challenge me on any of these things please drop it down below you'll also see in the description links for the merch store for one-on-one Consulting with me so that we can actually build out value volume and cost tables for your business and help you scale to the moon like you deserve while doing far less work and being way more actionable and don't forget to sign up for the newsletter and with that being said YouTube thinks you might like a couple of these videos don't forget to smash the button and until next time I'll see you on the internet bye