Saturday, July 12, 2014
Pay Per Call Advertising – Best Practices Part 2
Pay Per Call Advertising, Pay Per Call TV Advertising and Pay Per Call Radio Advertising works better in the 21st century than in the late 90’s because of the widespread use of mobile phones and new telephone technology. Now a radio listener can punch in the toll free number while driving and talk or perhaps call later with the toll free number stored in the telephone memory. A 2014 TV viewer has their mobile phone in their grasp at all times ready to be sold on your services or call for a needed financial service. There is nothing like #PAYPERCALL advertising to generate live qualified leads for your offer, service or product.
In this installment of Pay Per Call Advertising – Best Practices, I want to address lead definition, lead cost, and the ultimate metric for the marketer – CPA or Cost Per Acquisition.
Lead Definition: Call duration is the best method to maintain lead quality. TV leads @PAYPERCALLTV are usually the highest quality followed by Radio leads. A call definition of :30 seconds should be enough to determine if you have a qualified caller. At our agency our two top offers use a :30 second buffer 24/7 and a :60 second buffer 24/7. The longer the buffer, the higher qualified the lead and the higher the cost.
Lead Cost: You get what you pay for. Low cost usually means low quality. Another agency we know who sells only social media leads bragged about the low cost of their leads. We know from the end marketer that those leads are some of the lowest quality. In many cases the callers have not been screened through an IVR which means that many of the calls are “butt dials” or not qualified in any way. A TV or Radio exclusive lead is the highest quality lead. One of our best clients uses a :30 second buffer and another client uses a :60 second buffer. The :60 second calls are worth more than double.
Cost Per Acquisition (CPA): CPA is the bottom line. What did you pay for the lead and how many converted to a customer or client? What was the cost of the conversion? What resources had to go into closing the deal? You must crunch the numbers to determine the best leads with the highest conversions and the highest revenue per customer.
Thanks to all of my readers. I love the Direct Response TV and Radio business and enjoy sharing my 22 years of experience in Direct Marketing, DRTV and DR Radio.