Once upon a time, advertising meant broadcasting your message to reach as wide an audience as possible. It’s no longer a winning strategy in today’s digital world where you have thousands of other businesses competing for the customer’s limited attention.
Another issue marketers have is the mindset that generating leads often means quantity. It’s easier to gain new traffic, after all, than ensure lead quality. However, with specific advertising strategies, you can guarantee higher quality leads that benefit you in the long run because they’re the ones converting into customers.
Remember: better leads = greater chances of conversion.
How to measure lead quality?
Before diving into making sure you get high-quality leads, you first need to understand what makes them different from other kinds of leads.
Monsterinsights lists down several cues that classify a website visitor as high-quality. These include:
- Downloading your lead magnet
- Reaching out for any inquiries
- Browsing your pricing page
This means that lead quality is defined by the actions they pursue that signals interest in enrolling or subscribing to your program. Since virtually everything can be tracked in ad platforms, it will help your company grow when you understand how these actions progress over time.
How to improve lead quality?
Be more selective in your advertising efforts
Lowering the number of initial leads might seem counterintuitive but it actually benefits your campaigns. For example, say that you advertise to about 1,000 individuals, most of whom aren’t really looking for online learning platforms.
As a result, your CPA or Cost per Acquisition will be higher since you spend more trying to establish awareness when there are better quality leads needing just the right kind of push to convert.
By focusing on leads that already show interest–whether that’s by visiting your website or researching “online courses” and other relevant keywords–you can tailor your ads to finally push them to convert instead of just hovering in the last stages of the funnel.
Some of the ways you can ensure this includes:
- Being particular with the copy you use, making sure that they attract not everyone but your specific target audience.
- Prioritizing specific rather than broad keywords for your search marketing strategies.
Monitor the campaigns that lead to visits and conversions
Campaigns launched in different channels (e.g: social ads, search ads, or YouTube videos) bring in different types of audiences.
As such, you need to closely monitor the campaigns and channels that bring in leads that convert the most. This data can help with three things:
- Improving your ads and their performance in each platform
- Utilizing the unique value of each platform to create a whole system that works together in bringing in higher quality leads
- Crafting better campaigns that resonate with the right audience
Nurture leads that aren’t ready for conversion yet
No lead starts out ready to plunge into a partnership or a purchase from you. It’s up to you to foster their interest into commitment and finally into loyalty.
Although 95% of leads only look up high-consideration products for research purposes, around 70% of them plan to convert eventually somewhere down the line.
It’s up to your marketing message and strategies to persuade them that you offer the solution that fits their needs the best. To increase your chances, you can cultivate the best practices in CRO and in lead closing.