By making a product or a service available to a larger audience, you have established that your business is up and running, and people from the industry can opt for them. However, in today's technologically advanced world, where options are overwhelming, attracting and engaging clients using traditional methods is not enough. The lead generation process is becoming modern and complex day by day.
To stay in the race and win, you may need to step up your game to have a more significant audience land on your page. An essential element to consider at this stage is two types of leads; marketing qualified leads, and sales qualified leads. Both carry different characteristics within them. Let's consider the aspects of lead generation that go into a lead generation campaign:
Media operations: Hiring professionals is a significant step towards effective lead generation outcomes.
Placement and distribution: Running ads on multiple platforms, including traditional media and social platforms such as Facebook®, Google®, LinkedIn®, etc.
Purchasing lists: With today's marketing advancements, you can ease your efforts by purchasing a list for your prospects.
Setting up the campaign: It takes a whole team to create assets for a campaign, such as marketing strategies and content creation, etc.
Giveaways/Incentives: Offering giveaways and discounts has become a famous trick to have your campaigns make an enormous impact.
Lead Generation Channels And Their Cost
Print ads used to be the center of marketing and sales campaigns a while ago; however, the rise of digital platforms has brought a significant shift in lead generation activities. Social media, physical hoardings, and billboards have been game-changers. In light of that, let's look at some popular channels and the costs that come with them for lead generation.
SEO
Search Engine Optimization (SEO) is the leading tool to grow businesses in this era. It sets the proper foundation for your company, as far as the content is concerned, to attract the right prospects to make the actual impact. It can cost $500-$2000+ per month depending on the size of the business and the teams involved in the process.
Website Visitor Identification
Many B2B companies use website tracking tools to identify website visitors and generate more leads. Multiple software has appeared that assumed and professionalized website visitor identification. One such is B2B Lead generation software LeadRebel®. After increasingly strict third-party cookie tracking, it is being adopted as an option for retargeting. Their solution is one of the most affordable on the lead generation market, and they also offer 14 days of the free premium version. The pricing starts at USD 22$ a month and goes up with your add-ons.
Social Media
Social Media is a massive industry with multiple options for business owners to pick the right platform best suited for their industry. The potential customers are already gathering information on these platforms; you can sweep in with the best possible solutions to their problems and offer your services. Your monthly costs on each platform can be between $5000 - $15000.
Google® Ads
Google Ads is one of the best tools to reach a larger audience in a budget-friendly way where your prospects are actively looking to buy the kind of services/products you're offering. The cost for this falls between $5000 - $15,000 per month.
Webinars
With the current COVID-19 lockdowns worldwide, the world has shifted from conferences and seminars to online virtual gatherings called webinars. They enable you to tailor your message as per the business requirements of attendees. Also, it's a more scalable and economical method than contacting prospects individually. Also, it may take only up to 20% of your marketing budget.
Websites
No matter how big or small your business is, having a website with all the information about your products and services is one of the best ways to make the most out of it. It can be the home to all your lead generation assets. Owning a website is mainly a one-time expense of around $5000. However, regular maintenance and ongoing fees for hosting may vary.
Free Online Advertising Options
For relatively new businesses in the early stages, spending a big chunk of the overall budget on marketing and lead generation campaigns might not be the best strategy. Hence, free online platforms and tools may be able to come to the rescue.
Email marketing
In today's digitally advanced world, email marketing is one of the leading, free of cost, and most approachable ways of lead generation. If you aim to increase brand awareness and sales, choose the right kind of content, call-to-action and make it easy to subscribe/unsubscribe. The catchy subject line is a cherry on the top to ensure a higher open rate.
TikTok®
If you're hoping for your business to go viral among audiences of all ages and industry backgrounds, with around 0.7 billion users worldwide, TikTok should be your go-to platform. Running unavoidable ads is free; however, later, you can pay for higher visibility and reach a particular audience.
Youtube®
Got a camera and internet connection? Well, that's all you need to record a video and post it on Youtube. One of the world's first and leading video platforms to create any content that your prospects can relate to. It gives you the freedom of creativity and changes your marketing approach based on the number of views and the viewers' feedback.
Pinterest®
This free-of-cost imagery platform offers a chance to show your audience use case scenarios in exciting and eye-catching ways. Create a business profile for extended options of reachability and conversion. The users can pin your images, visit your website directly with one click, and decide if your business offerings are a fit for them.
Snapchat®
Hundreds of millions of people use Snapchat daily to share their activities using images and video options. You can take things to the next level for your business by creating a professional account and running paid advertisements at as low as $5 a day.
Costs Of Lead Generation: Conclusion
On a concluding note, no matter what path you decide to take for the lead generation, or how much you're willing to spend on it, make sure to have a clear plan and strategy. Keep track of the outcome of each campaign to make an informed decision by opting for the best approach based on stats. The best way to check if your lead generation campaign is moving in the right direction is to ensure that the value of a lead is more than the overall cost.
About the Author
The founder and mastermind behind Pulserio AG® | LeadRebel® is Davit Svanidze, a professional with over fourteen years of experience and a passion for B2B lead generation and digital marketing services. "At LeadRebel, we show you which companies visited your website, company and contact information of the contact person. We always put our clients' satisfaction first." You can find Davit on LinkedIn®.
