Lead Generation for your Accountancy Firm
Generating leads is probably the top objective for an accounting firm. But they aren’t easy to get. No-one likes being cold-called and if a person isn’t specifically looking for your service, then they aren’t going to be thrilled to hear from you. A lead generation company can overcome these obstacles and target the right people at the right time. Here are the benefits of using a lead generation specialist for your accounting firm?
Cost is on a pay-per-lead basis
This is known as the CPL or cost per lead model. You only pay for the leads you receive, which is much more cost-effective than say a CPC (cost per click) model, where you pay for every single click to your site, or the CPM (cost per mille) model, which charges for the amount of advertising impressions yourcampaign gets. CPL basically means, you are only paying for each person who actively enquires about your service.
They know how to attract the right leads
Because of the CPL model, marketing agencies only get paid on active leads. A lead constitutes a person who enquires, which means they have a level of interest in you, even if it is up to you to convert to a sale / customer. For this reason, they are experts of a) creating the right ads to attract genuine leads, and b) finding and targeting your desired audience, e.g. capturing a niche demographic on a specific social media platform.
Control of vetting
Depending on what kind of campaign your marketing agency is running for you, you may end up with a database of targeted leads for you to call. In this instance, you are in control of the vetting process, determining which leads look promising and which might be a waste of time. An example of the latter could be the wrong demographic or a somebody you have previously targeted unsuccessfully. In some cases, your marketing agency might do the calling, but you still have control over the database before they begin calling.
Risk of marketing lies with the agency
Any marketing costs associated with the campaigns they set up to generate leads, will be at the marketing agency’s expense, not yours. From campaign design, to advertising fees, you don’t need to worry. Once you have agreed the amount of advertising that will be done for your money, all you are paying for us the leads you receive. This means you are not having to risk your ROI by paying high costs, with no guaranteed return.
Essentially, putting the risk in your marketing agency’s hands, means they work harder for their money! For example, they will look at things like geo targeting and will thoroughly vet the prospects before they come to you for final vetting.
How much should I pay for lead generation?
How long is a piece of string? This really comes down to what the value is to your business for each sign up. This will depend on things like your conversion rate and your average order value, but as a rough estimate, it’s anywhere between £75 and £250, depending on your industry and product or service type.
What about buying leads in the form of marketing databases?
This is certainly an option that some businesses go for but proceed with caution. Databases, unless maintained daily, quickly become out of date, which can waste a lot of time if you are sourcing your own leads this way. We have been there ourselves, endlessly calling contacts from a database and finding that they moved on months ago.
As part of your marketing company’s efforts, they may use a contact database, but the onus is on them to vet and extract genuine, up-to-date leads. For this reason, many businesses prefer to simply pay a lead generation specialist, rather than shell out for a database that is out of date, and often expensive!
Finally, what questions should I ask my marketing agency?
Well, before you even choose your marketing company, shop around to see who does what and how. Look at reviews and case studies on their websites and contact a few to have a meeting or phone conversation.
Ask how they generate leads – which methods do they use and why? Which is most successful, and which is the most likely to maximise ROI?
Ask how much marketing is done for your campaign and what your own obligations are physically and financially.
Ask how the vet leads and where they get their data from, and finally, how much you will be paying for each lead. Don’t be afraid to barter. Some models might be volume based, so you might be able to agree a price based on the amount of leads they can guarantee.
Need some advice on lead generation? Whitefish Marketing agency in Kent work with businesses in the south east to generate even more enquiries and leads for your online business, quickly, hassle-free and at a cost effective rate. Call us on 01303 720 288.