A big part of what we have to do is manage expectations.
Quite often, we’ll quote a prospect on an average volume of, say, 10,000 records.
“Ok, so can we conservatively expect a 1% lead response then?” is a question I’ve heard multiple times over my 15 years doing this.
The answer is always no.
A 1% lead rate would be 100 leads from a spend of around £600. We wish. If we could generate response rates like that, we’d be charging a lot more, and I’d be incredibly rich!
However, it’s always a good excuse for me to roll out my high street analogy!
You’ll like this one (I hope):
Imagine your product/service is inside a shop on the high street.
Your 10,000 audience is all the people walking up and down that street, people who now have access to come and look at what you’re offering.
Let’s say 10% (1,000) of these people stop and look in your window; they’re your opens.
10% of these people (100) decide to walk in the shop and browse what you’re selling; these are your clicks.
On the side of caution, let’s say 10% (10 people) of these walk-ins pick up a product off the shelf and ask a question; these are your leads.
These are all conservative and safe figures, but they generally get our clients looking again at their expectations.
Of course, what happens at the till is in your hands!
So, what are you selling?
Lee Shore
12th August 2020
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