In another interesting discussion with a hunting party we have come across, the discussion ensued after the group began to realize how small their site was in the vast world of the internet. A sense of dread came over them as they began to consider that their internet investments were a waste of time and money. Being the kind hearted ROI Hunters that we are, we pulled out our “Chance Favors the Prepared” examples and tried to place things into perspective, because as we all know, hunting ROI is not for the unprepared!
The story goes something like this. The company finally decides to get serious and take a chance on the internet, specifically, using their signature web site to drive leads into their sales funnel. Believing the dot bomb era is now well behind them, they have been reading how companies are taking advantage of the internet again. Half believing the mantra, “Build it and they will come” they began the steps to build a viable signature site. They have made great strides in the last several months and will soon be ready to begin the next phase of promoting and marketing their site.
This is where the sense of panic rushes over them as they begin to realize what they must do next:
- Pay-Per-Click : research, bid, monitor, adjust anywhere from 50 to 500 key phrase on several of the larger PPC sites.
- Search History : research, track, calculate past search history on phrases, including your ppc activity and create/update pages to optimize for those phrase with the intent of ranking the page in the top search results.
- Email Marketing : creating campaigns with expert content that drive people back to the site and making sure you build and track your call to actions on each content landing page.
This is the point when they realize the level of commitment is a bit more then they expected or wanted. They don’t know what to do next. (Besides hiring a company like ROI Hunters) They need to consider this a long term investment and treat it like any other asset that builds equity over time.
So now we come to point of using our “Chance Favors the Prepared” examples. Unless you are ready for that chance visit, you will not be able to take advantage of the visit. For the sake of this example we will focus on PPC, but it works for all the items I mentioned above. Let us say that they do everything right and with their PPC budget and hard work they get about 60,000 impressions from sponsored links alone. We explain the 1% 1% rule at this point. That is, you will get 1% of those 60,000 impressions as visitors, or 600 visitors, and 1% will be viable prospects, or 6 leads, that contact you for more information. This is when they start understanding the ROI but also the need for chance and to be prepared.
If their PPC budget was $150 that month, they spent on average .25 per click-thru ($150/600)for visitors and $25 per new lead ($150/6). Depending on if your are looking at life-time-value or some other means, you can now determine how this method or channel does compared to your other lead generation spending. The fun begins when you begin working on increasing your click-thru rate or conversion rate.