Lead Volume vs Lead Quality

In today’s video, I break down the correlation between lead quality, lead volume and cost per lead.

In the pay per lead game, it is crucial to keep an eye on all three of these, especially when your cost per lead spikes.

This happened within my agency recently, and I wanted to remind you of the steps to take to get your cost per lead back to making a profit again.

Any questions, please comment below!

Video Transcript

Hi there, it's Dan Wardrope here from Flexxable, and today, I wanted to talk to you about the correlation between lead volume, lead quality, and cost per lead.

It's important if you're in the paper lead game to be able to keep an eye on this.

This has happened within the agency in the last couple of days, running Facebook ads for clients spending about three or $4,000 a day generating leads for actually multiple clients in the same vertical via one of our brands.

Lead cost was getting a little bit too high for us to the point where there wasn't any real profit.

We were still making some profit but not a massive amount.

And we kind of came up, as you usually do when things get a bit tight, with some great new creatives and some tweaks to the funnel, which helps increase the conversion of the funnel.

Also, the new ad means that we're showing our ads to more people, and Facebook's rewarding us for having a really good creative, right?

And what happened is that we slashed our cost per lead by about 40% literally overnight.

And we're like, "Amazing, this is great.

"We just making a crap load of money in the vertical, "and it's all good." But the guys on my team were excited, but I've been here and done this before.

I'm like, "Guys, you need to be very... "You know, this is great, and well done "for making all these changes and getting us way back "in the black.

"It's amazing, but just make sure you're extremely on top "of quality with the clients "because there's a good chance they're gonna be reaching out "to you and saying, wow, all of these leads "are coming through.

"It's brilliant, but we can't get a hold of anyone "or the leads aren't converting."

This is quite common because when you think about it, if your ads are just being shown to loads of people, and there's a nice hook and the process for getting through the funnel is very quick and easy, it just logically means that the quality of the leads are gonna be less.

It's just common sense, right?

So you've got to be careful, as opposed to when you're working harder to try and get the leads, your funnels got more friction in it and the cost per lead's higher, it usually correlates with better quality leads.

So just be wary if this has happened to you.

My advice is always try to improve your ads in your funnel, of course, but if you hit pay dirt and you think you've hit pay dirt and things are just going great and you just deliver a crap load of leads a in a day.

Make sure you're communicating with your client.

Let them know that you've had a new ad that's just caught fire and just making them aware that you're on top of your game and you are wanting to help them get a return on their investment.

So I said, when the guys had all of the success "and things got really going well for them,

I said, "Okay, reach out to the client and just make them aware "of what's happened, and make sure "there's good communication.

So if there is a problem, "then we're gonna know straight away "so they continue to reorder "and that relationship is just nailed in."

So I hope that makes sense. And I hope you've gained some value from this.

You guys have probably seen the case study that we have on building a pay per lead agency.

If not, there should be a link below this video which tells you, sends you to this free case study.

So enjoy.

Any of you have any questions, then please do type in the comments box, and we'll get back to you.

Take care.

Bye.

Lead Volume vs Lead Quality

Video Transcript

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