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“All leads are not created equal."
The five critical factors all leads should have.
From: Houston, TX
Sunday, 9:32 a.m.
Selling Marshmallows? See the photos here!
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Dear Friend and Subscriber,
There are a lot of wrong impressions about leads . .
. some of which may well have been influenced by late-night meetings and
lite beer.
Leads have at least five critical factors:
1. What they cost.
2. The conversion rate.
3. Unit of sale size.
4. Repeat orders and residual value.
5. Hassle factor.
Let's start with Factor #1: What each lead costs.
This is an easy factor. Simply take the cost of the
advertising campaign and divide by the number of leads you receive. If your
advertising campaign costs $1,000 and you get 100 leads, then your cost per
lead is $10.
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What do selling marshmallows, bribing kids and hippos have in common? Click here to find out! |
All marketers want to lower their cost per lead, but
this is only part of the formula. If you concentrate only on the cost per
lead, you'll miss the other four important components that may mean the
difference between success and bankruptcy.
For instance, what good is the cost per lead if none
of your leads convert into sales or distributors? If your cost per lead is
only one penny, but none of your leads convert . . . you've paid too much
for the leads.
So factor #2: The conversion rate must be part of
your evaluation process for your advertising campaign.
Factor #3: Unit of sale size means how much business
you get from a single sale of each converted lead. If you're selling diet
products, look at the following difference:
A. Converted leads from Diet Today buy an average of
$100 of diet products on their first order.
B. Converted leads from Calorie Busters buy an
average of only $15 of diet products on their first order.
It doesn't take a converted lead scientist to see
that leads from Diet Today are over six times better than the leads from
Calorie Busters.
Factor #4: Repeat orders and residual value mean that
customers who come back are more important than customers who only order
once.
A. Distributors recruited from
Greed & Power make a
single product order of $100. They quit after one month with your networking
program.
B. Distributors recruited from
Hype & Shout continue
with your networking program and regularly order $100 in products every
month for an average of two years.
That means you receive a total of $100 from
distributors in group A, and a total of $2,400 from distributors in group B.
You like distributors in group B and will continue to expand your
advertising campaign in Hype & Shout.
Finally, Factor #5 is the hassle factor.
What good is your campaign if it is too difficult to
administer? What if every lead required several follow-up letters and
telephone calls? What if many of the leads abused your good nature and took
advantage of your time and resources?
If the cost to service and develop each lead is
exorbitant, your advertising campaign is doomed.
So, what about your leads? Do you consider these five factors or do you
simply calculate the cost per lead and wonder why your advertising campaign
isn't working?
Can you imagine what your life could look like if you
and your team applied just some of my sponsoring tips? It might look
something like my lifestyle photos!
Subscribers as of this issue 25,425. Only 74,575 to go.
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