Your cost of customer acquisition has tripled, but lead gen is down
The cost of advertising has tripled over the last decade and businesses are getting less response.
For example:
In 1996 if it cost you $300/week to run an ad and it produced 2 leads per week - today in almost 2008 it will cost you $900/week for the same ad and the bad news is you'll only get 1 lead per week.
So you're spending more and getting less!
Why is that?
Your cost of advertising has gone up and your results are going down because of 3 key factors:
1. The Clutter Factor - everybody's advertising everywhere, which drives the cost up and makes it more difficult to get people's attention. The average American consumer is exposed to 30,000 commercial message per day. People feel bombarded by marketing and filter it out.
(Of course ad agencies and publishers would have you believe that if you put your message out enough some how you're going to have an impact on people's sub-conscious and they'll think of you when they want what you offer. That takes deeeeeep pockets and is extremely difficult to measure.)
2. Ad Options are Expanding - you have more options and mediums available, which makes it increasingly more difficult to know where to spend resources. Confusion and uncertainty lead to inactivity or paralysis and many business end up spending more to have a third party manage this all their marketing for them.
3. Prospects Have Control - I want what I want, when I want it and I can find it on my own terms. Now you have to retool your marketing to create pull versus more traditional methods based on push advertising. Opt-in lead generation has grown tremendously over the last 5 years and you need systems and processes in place to capture and retain interested prospects to funnel them to your business.
Now more than ever it is critical to measure everything!
You can't manage what you can't measure and your customer acquisition process is no different.
We offer unique systems to measure and increase your customer acquisition with a web-based tracking system. If you'd like to see a demo please give us a call or send me an email.
Best,
Ryan Pitz
(336) 790-5726
info@newcallsolutions.com
Reader Comments