{"id":10801,"date":"2019-12-20T11:01:00","date_gmt":"2019-12-20T11:01:00","guid":{"rendered":"https:\/\/trafficsoda.com\/?p=10801"},"modified":"2022-11-28T08:49:46","modified_gmt":"2022-11-28T08:49:46","slug":"lead-generation-strategy-questions","status":"publish","type":"post","link":"https:\/\/www.trafficsoda.com\/lead-generation-strategy-questions\/","title":{"rendered":"7 Questions to Ask When Developing Your Lead Generation Strategy"},"content":{"rendered":"\n
Are you throwing away hundreds if not thousands<\/em> of dollars a month on online advertising with little to no results? <\/p>\n\n\n\n Still can\u2019t figure out how to attract more of your ideal customers cost-effectively? <\/p>\n\n\n\n You might\u2019ve been told that pay-per-click advertising is the answer – but like most things in business (and in life) it\u2019s not as simple as the \u2018experts\u2019 make it out to be. <\/p>\n\n\n\n As you\u2019ve probably noticed, there are literally hundreds of step-by-step guides out there claiming to hold the secrets to lead generation success. Thousands of so-called marketing gurus who say they\u2019ve developed a foolproof method to get your <\/em>business \u2013 any<\/em> business \u2013 more leads than you can handle. <\/p>\n\n\n\n And that<\/em> is mistake number one. <\/p>\n\n\n\n Now, we can\u2019t speak to your situation specifically\u2026but from our experience, this is one of the biggest reasons why so many advertising dollars go to waste: a generic, paint-by-numbers marketing strategy that doesn\u2019t account for foundational facts about your business. We know you\u2019re eager to hit the ground running. You need <\/em>new customers, and you want to start acquiring them as soon and as efficiently as possible. <\/p>\n\n\n\n It can be tempting to believe you can skip ahead to the \u2018execution\u2019 phase (aka, the fun part). <\/p>\n\n\n\n But it pays \u2013 literally \u2013 to put in the work and ask the right questions early on, because the result is a powerful lead generation strategy<\/strong> that puts the right messages in front of your ideal customers and turns them into real leads. <\/p>\n\n\n\n These aren\u2019t necessarily easy<\/em> questions. Developing a lead generation strategy isn\u2019t like a personality quiz. They are, however, crucially important and well worth your time to answer. <\/p>\n\n\n\n We can\u2019t take you through all these questions right here and now, but we would like to introduce you to 7 of the most fundamental questions you must ask when developing any lead generation strategy: Developing a smart and cost-effective marketing strategy to scale your business is no easy task, especially if you are unaware of the costs associated with lead acquisition (cost per lead) and average order value. <\/p>\n\n\n\n But first, let\u2019s start with defining what a lead is. A lead is any person who indicates interest in a company\u2019s product or service in some way, shape, or form<\/strong>. <\/a> <\/p>\n\n\n\n Now, let’s define what Lead Acquisition Cost and Average Order Value are and what they mean to your business. <\/p>\n\n\n\n Lead Acquisition Cost (LAC) are all costs<\/strong> associated with getting one lead<\/strong>, i.e., getting a potential customer. <\/p>\n\n\n\n Average Order Value AOV) tracks the average<\/strong> dollar amount spent each time a customer places an order<\/strong> on a website or mobile app. To calculate your company\u2019s average order value<\/strong>, simply divide total revenue by the number of orders<\/strong>. <\/p>\n\n\n\n Wrapping your head around these important metrics can change the way you perceive your business, and how you approach a new cost-effective marketing strategy. Without these numbers factored into your strategy, you could find your business spending substantial amounts of marketing dollars on the wrong initiatives and not producing favourable results. <\/p>\n\n\n\n The good news is that Lead Acquisition Cost and Average Order Value can actually be pinned down to the cent, and TrafficSoda can help, so you don\u2019t have to feel around in the dark for these numbers.
<\/p>\n\n\n\nWhy You Need to Stop, Think, Ask and Answer<\/em>
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<\/li><\/ol>\n\n\n\n1. What is Your Lead Acquisition Cost and Average Order Value?
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<\/p>\n\n\n\n2. What Does Your Marketing Funnel Look Like?
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