As marketing director for your own business, allocation of dollars towards the right opportunities is one of the toughest decisions you have to make.
No doubt you regularly receive emails soliciting your business for pay-per-lead programs. This is because new wedding and event planning search engine sites are growing on a daily basis. So, what is the real deal when you spend your hard earned dollars on a pay-per-lead program?
Pay per lead programs are a scam and they never provide real sales….Fiction!
Pay per lead programs are a numbers and marketing game. Choosing the right leads and contact strategy will win you clients…..Reality!
Expecting every lead that you purchase to convert into a business booking isn’t realistic. Statistics show that a Mobile DJ can close between 1-in-5 to 1-in-50 leads purchased.
If you purchase 50 leads, you can expect to spend between $250 to $500.00 for them. If you then close $4,000 worth of business, you would have more than paid for the leads and had a return on your investment of 800%!
Keep in mind, prospecting new leads is a numbers game, therefore:
- The number one reason clients buy from a company is that they are easy to buy from and they offer value that is greater than their price
- 8% of voice mails to prospects or leads are returned
- Purchased leads to “cold” prospects achieve a 1% closing rate
- It takes 10-12 “touches” before a prospect agrees to meet or have a conversation about your services
- 85% of the time it takes 7 calls to make a sale
- 85% of vendors stop calling or emailing a prospect after two attempts
Client Selection: The Key to Successfully Winning at Pay-Per-Leads
Client selection is not a process of responding to every lead that looks interesting. Rather it is a process of determining the best opportunities based upon your company’s lead selection criteria.
Selection Criteria:
- Does the lead match your client profile?
- Will the lead view your company as valued service or as a commodity?
Key phases to cautiously evaluate a lead potential:
- Clearly stated “our event is on a tight budget”
- Looking for the best deal and “we can do some of it ourselves”
- Budget is clearly stated and is misaligned with the event
The Downside of Prospecting in a Pay-Per-Lead Program
- Prospects will ignore you
- Prospects will say “no”
- Prospects will be angry, hang up and send nasty emails or voice mails back to you
- You will be busier
Developing a defined marketing and client selection strategy, and having the determination to build value and trust with your prospects can achieve results beyond your expectations!
Want to learn the secret to leaving voice mails that get returned? Drop me a note at [email protected].
Jerry Bazata (Maine’s DJ Jaz) has over 25 years of experience as a professional DJ entertainer. His firm, J & J Marketing and Entertainment, is a leading consultant to the event planning and music industries. Jerry is a published author and is recognized nationally as an authority on the disc jockey business. To learn more about him, visit MaineDiscJockey.com or email [email protected].
