Hey, everyone. Just a quick video today.
Oftentimes, when I’m having conversations with people that have just joined my program or are thinking about joining my program, they’re always asking me two things; “How do I” and “Can I transition a retainer client over to the pay-per-lead model?”
This query is a little bit tricky and it depends on the situation and the industry. The situation of the client would relate to how much you’re getting paid on a retainer as well as the industry that they’re in, and there are a lot of different factors that contribute to making this decision.
Before we get into the nitty-gritty, firstly, I should mention that it’s probably not a good idea to move an existing client over, because they may already know what their CPL or Cost Per Lead is based on.
Let me elaborate. Say you’re spending 5,000 bucks a month on their ads and you’re charging a couple of thousand dollars per month in retainer fees. They will have a rough idea of the ROI that they’re getting from that $5,000 spend, combined with your $2,000 retainer fee. In other words, they know the value that you’re getting out of them. So in most cases, my answer is – I wouldn’t bother.
I would just continue to stay with them and keep that money coming in, especially if it’s working and they’re happy. I wouldn’t risk moving anything over to the pay-per-lead.
However, what you can do using that example of the $5,000 advertising budget is, let’s say you’re doing a combination of Facebook Ads and Google AdWords, what you’re going to know is roughly the cost per lead your getting on Facebook and roughly the CPL that you’re getting for a lead on AdWords. So if you know your stuff and if you’re not doing this, then you should be asking them these questions.
Try and get access to their CRM system and find out all the things that matter, like, what percentage of the leads ARE converting and what the contact rate of those leads are. Find out how much money they earn from a converted client and generally, get a feel of the financial success from your leads.
Some people might think that’s a little bit underhand but if you have client A in an industry, then why not use all of that intel and that stuff that you’ve learnt to go to another client in that space and sell them on a cost-per-lead basis? And that’s what I would do.
So keep your client as it is. Retainer contracts also have lots of advantages such as a fixed charge every month, some contracts have more than just leads, you will be in control of everything for instance the ads, or making any changes and funnels, not to mention working with an agency can improve your result too.
It’s a big world out there and it’s time for you to grow your agency exponentially and you can do that very easily.
We are sharing a link below to a webinar to teach you how to get clients in your particular vertical using cold email.
So if you know the leads that you’re getting, how much the leads are and now you will know how to get the clients, then all you have to do is put those things together and you should be off to the races.
I hope that makes sense. Of course, if you’re able to share this video for us and you know other people that might be interested in pay-per-lead, ring the bell if you’re on YouTube or share on Facebook or comment or do whatever you have to but we’d much appreciate it. So speak soon. Catch ya later.