When it comes down to it, almost all companies are looking for ways to cut their spending. And technology companies are definitely no exception.
The big problem for marketing is how to cut your company’s cost per lead, without sacrificing the quality of those leads. Many companies spend far too much on leads, and are practically forced to make a sale in order to cover the initial cost of acquiring that lead. This is an extremely destructive practice, and one that should in no case be true.
So how do you control your cost per lead and focus your efforts in a way that won’t put you in the hole? Here are 7 powerful ways to reduce your technology company’s cost per lead, without sacrificing results (if done correctly).
1. Ruthlessly Review Efforts
Before you begin cutting costs, take a moment to review your previous efforts and ask the tough questions. Are your pet marketing projects actually generating the best results possible? Is there a specific channel that is generating surprisingly good (or bad) results? Reviewing your reports and acting upon the results ground your decisions in reality, not in a gut feeling.
Be sure to not only review which channels are driving the majority of your leads, but also which channels are driving the best quality leads. Keep in mind that quality can often be more important and beneficial than quantity.
2. Begin Blogging
If you’re not already, you need to catch up on this staple of digital marketing. HubSpot reports that “companies who blog are 13x more likely to generate a positive ROI.” This simple step can make a huge impact, and it doesn’t have to be expensive.
While hiring professional copywriting services may be a great investment for your business, it may not be necessary if you are willing to dedicate internal resources to consistent content creation. You never know, Jim in accounting or Susan at the front desk may prove to have a way with words, as well as a great understanding of who your target audience is.
Just keep in mind that if you are not going to hire professional bloggers, you may want to take some time to train on blogging best practices. In addition, having someone on your team who really knows SEO review and can optimize all of your blogs will help maximize your efforts, and point your blog in the right direction.
3. Embrace Email
Email is where it is at. Period. This method is the perfect way to target your audience with a very specific message.
While it is possible to internally create and send emails, keep in mind that this is a bit different than writing a blog post. Instead of hanging out where your prospects spend their time, you’re actively knocking on their door. This requires a very careful approach.
But keep in mind that according to Salesforce, for every $1 spent, $44.25 is the average return on email marketing investment. So if you are going to shell out some cash, email is a great, inexpensive option.
4. Spark Social Activity
Creating social media accounts on Facebook, LinkedIn, and Twitter costs your business nothing, except a few minutes of time and effort. Use a few minutes of your day (as few as 15 to 30) to find some interesting content to post, engage or listen to your audience, and grow your account following.
This is also a very powerful strategy to embrace in your sales department, and one that has proven to be highly effective, especially on Twitter and LinkedIn.
5. Strengthen SEO
While you’ll want to take some time to brush up on Search Engine Optimization (SEO) best practices, a great place to start is your on-page SEO. Take some time to review your web pages and conduct keyword research. Select a focus keyword for each page, then include your keyword in the page’s:
- Page title
- Image alt-text
- Page headers (H1, H2, etc.)
- The page copy
- Meta description
Just be careful not to stuff your pages with keywords. Make sure you are focusing on the humans who will be reading your web page first, and optimizing for search engines second.
6. Craft Compelling Case Studies
Another powerful way to capture highly qualified leads, or nurture existing leads, is to craft case studies. This specific type of content can provide a powerful marketing and sales boost to any technology company.
Not sure where to get started? Choose one of your best client success stories, and take some time to highlight what specifically your technology company did for them, and the results of your efforts. The beauty of the case study is that they don’t have to be long to have an impact. Just be sure you understand the difference between the various sections of a case study.
7. Deploy Data
One of the most cost effective ways to acquire a list of leads tailored to your company’s target market is to purchase data. This is a powerful method when done correctly, because it can be used in email campaigns or by your sales team for appointment setting.
This method gives you better control over your cost per lead, and can allow you to acquire a higher volume of leads in a shorter period than through paid advertising, or other methods.
All of these methods, or a combination of a few of them, can reduce your technology company’s cost per lead, creating a healthier pipeline of leads that result in a higher profit margin for your business.
Ultimately, your efforts should not be hurting your company with methods you can’t afford and which don’t connect with the overall value of your leads. Take advantage of these cost effective methods, and generate healthy results for business growth.