A key part of cashflow optimization in any marketing strategy is knowing your average lead value. If you want to make more money online, you simply must know how to increase lead value.
This enables you to take complete control of your income in a systematic way.
So focus on this key metric, your Average Lead Value or Average Customer Value. You MUST track this.
These aren’t complex statistics, but simply what, on average, each lead earns you.
We can’t increase this value if we are not tracking it. And you can’t market effectively if you’re skipping this process, which is what many are doing. Then they wonder why their business is struggling.
Can’t blame them for not knowing why if they are not tracking this data. You can’t fix what you don’t know is wrong.
So don’t skip the process of tracking your average lead value (along with your average lead cost of course)
How to Start Tracking Lead Value
First, let’s be clear. This applies to all business types.
You could be a coach, or a consultant, have your own agency, or be an affiliate marketer, network marketer, or selling your own products online.
You simply won’t make it if you don’t have the power and complete control to increase what you earn per lead and customer. It’s not magic, but an incremental process that reaps continued rewards over time.
START HERE: So the first thing you will need to be able to effectively and accurately track lead value is a marketing funnel system.
If anyone says you don’t, they are definitely not tracking their lead value, so don’t listen to them.
It’s trendy these days for people to say they’re doing well online without a funnel. I don’t get it. Maybe it a diversionary tactic, but rest assured, they have a funnel of their own. They ALWAYS do.
You just can’t accurately track the data you need to be able to earn consistently online without a marketing funnel.
So What is A Marketing Sales Funnel?
If you have any experience in online marketing you already know this. But let me break it down in specific terms relative to controlling your cash flow via your lead value.
When we say marketing funnel we’re talking about an automated process to attract your ideal prospect, educate them on what you have of value to provide them, and make it easier for them to purchase it.
Then, throughout the funnel, you add more offers, test the results, and constantly improve. Simple strategy, but it’s a big deal.
How Do I Set-Up a Marketing Funnel?
We have two options for that:
- Set up the marketing funnel on your own site (such as a WordPress site like you’re on right now)
- Use an already setup marketing system like Kartra. (like Clickfunnels but better)
*I use both my own WordPress site and Kartra, both of which were created for me, but you could just choose one. I can help you choose which might be best for you*
Funnel Components Needed to Increase Lead Value
These are the components you need which allow you to increase your income with control and predictability.
LEAD CAPTURE PAGE: You drive traffic here and collect leads, usually in the form of email addresses. This allows you to automate the follow up process, provide them value, and let them know how you can help them.
LEAD MAGNET: This is something of value that you provide for free (or very low cost) in exchange for their email address. Something useful to your prospects that they are going to want access to. Webinars, ebooks, educational videos, and even free consultations (for high ticket items) are all examples of lead magnets.
LANDING PAGE: This is where the prospects ends up after entering their email. This is crucial as this is where you place your TRACKING PIXEL so your system knows where your leads come from and how your marketing is performing. A key step towards determining you average lead value. This also allows you to test various parts of your funnel and improve them.
Tracking allows us to try out different Lead Capture Pages and see what brings the best results. It really allows you to test every part of your marketing.
Once you have the proper tracking in your funnel, automatically providing you all the data you need, you can then begin to optimize your cashflow.
I shared previously, in this article, 5 ways to do so. To summarize, they are:
So once you have your marketing funnel, complete with tracking, in place, optimizing your cashflow gets a lot easier.
Now you know what you earn per lead and customer, and can tell what happens to those #’s when you make any sort of change in your funnel. If it helps you, keep the change and looks for other places to improve even more. All without having to re-create all your marketing. Just small, incremental changes, that provide you with automated results you can analyze.
See how this puts you in complete control? How it enables you to earn more and more, with less effort?
No guesswork, no tough decisions, you just do what the data tells you to do. And increase your earnings in the process.
If your ready to put this to work for yourself, without having to design your own complete funnel and marketing system, ask how we can help.
It starts HERE.
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