Advertising is one mode by which you can generate 'high volume and low information' leads. You can have a small cut-out form, which a person can fill-up and send to you OR give a call-in number for people to call. At the moment, this topic covers the advertising aspects in publications and television and not on hoardings OR outdoors.
This method of lead generation is a potent method for any kind of product line. In mass publications, it is more used for consumer/retail products and for industry-specific publications, it is also used for institutional products.
The core to the lead-generation through advertising is to 'seize the moment'. If a customer does not call you within a day OR two, the value of that advertisement slot is lost. Just like other lead-generation channels, this channel also gets the boost through a sales OR launch campaign, whereby there is a binge of media promotion on your products.
The other key area, which needs focus is -the training and quality of the call centre. At the call centre, one is accepting the calls from the customers. The ability for the call centre executives to take the call and ability to answer the first level queries from the customer helps.
The success drivers for lead-generation through advertising are:
- Availability of infrastructure to entertain the calling in customers- your call in lines should not have too much waiting period.
- Quality and training of the executives for getting level 1 information about the customers and also answering their initial queries.
- Variety in the ad-slots: If you give multiple exposures of advertisements, a level of variety in the ads can help in attracting customer who ignored your ad for the firs t time.
Measures/Facts for lead-generation through advertising
- Number of advertising leads
- Number of advertising leads converting into warm leads.
- Number advertising leads converting into sale (this can be cut to further sub-stages like customer demo, price negotiations, raising purchase orders deliver)
- Lead-generation cost
KPIs-Metrics for advertising lead generation
- % age of ad leads which got converted into warm leads
- % age of ad leads which got converted to sales.
- Ad cost per lead for leads which got converted to sales
- Ad cost per lead for generating warm leads.
- Ad cost for generating a lead.
- % age of leads which were dead-leads (wrong OR non-existent telephone number, the person is not an existing customer though he/she is mentioned in your list.)
Dimensions/Attributes for lead-generation through advertising
- Location (with outlet being part of the location hierarchy)
- Lead value-slab (high value, medium value)
- Lead priority (high, medium, low)
- Lead Source (external database, existing customer, point of sale..)
- Ad campaign
Key Business Decisions related to advertising lead generation
- Advertising plan and cost.
- Investment into infrastructure.
- Investments in training of the executives in the inbound call centre for taking calls from the prospects.