If You’re Thinking About Your Firm’s Marketing ROI, Then Think About Lead Generation Campaigns
There’s a significant number of CPA , consulting and other professionals services firms that traditionally think of marketing as merely overhead, so one of the most frequently asked questions we get from partners, owners and shareholders is “how much does it cost”?
That’s the wrong question to ask. The more appropriate question should be “how much should we invest? After all, we don’t measure “Return on Expense”, we measure “Return on Investment”!
When you view marketing and business development expenses through the lens of ROI, then you gain new perspectives and an increased ability to make smart, tough decisions on how, where, and most importantly, why a spend is necessary. Using this lens, it may be likely that you can get rid of marketing programs that don’t work and find the money in your existing budget to implement an inbound marketing program and install the entire infrastructure that’s necessary for lead generation.
According to MarketingProfs, most (55%) B2B companies cite acquiring leads as their top strategic priority in 2011, followed by building brand awareness (49%) and lead conversion (45%).
So, what should your CPA, consulting or professional service firm do to bolster lead acquisition?
- Build a lead generation campaign around a specific issue or pain point, not just around your brand
- Create an offer that’s compelling and one which showcases your firm’s thought leadership though a whitepaper or similar vehicle
- Invest in lead acquisition capture and management technology like HubSpot
- Promote your campaign both on and off your website
- Capture leads via landing pages
- Measure results and continuously make refinements
Consider this: what’s the actual lifetime value of a new client – both in terms of revenue and margin? This simple calculation, measured against the costs of inbound marketing, will give you a good starting point to explore how many sales you actually need to install a lead generation focused marketing program before you actua lly see ROI.
You might be surprised (in a very good way) of how easy it can be to cover costs with just a few sales resulting from lead generation campaigns.