John: Good Morning, it’s John Nieuwenburg with W5 Coaching and today we’re talking with Mark Bossert of Top Local Lead Generation and in this series of questions we’re posing for Mark, we’re getting a little smarter about how Lead Generation works, so Mark in that vein, how many leads can I expect to get in a week?
Mark: Well that’s the, one of my most asked questions.
John: I can imagine.
Mark: And that the answer is, you know the lawyers answer of course is, it depends, and what it depends on is your budget, how well you know your target market and what is your offer; and so we help work with people on to craft, the offer and getting to know their target market if they don’t have that really well defined and of course then we can work within almost any budget. It has to be somewhat significant, I mean it can’t be you know, I have a dollar, that’s not going to work, how many leads will that get me, well it depends upon how many phone calls you can make, but if you’re looking for something where people are actually getting in touch with you, where you’re attracting people based on some value that you’re delivering then knowing your target market, having a great offer is the key to everything in marketing and then it’s just o.k. well once we get that crafted to a place where for every dollar you’re making two dollars or three dollars or more, then your budget can go up and that’s the wonderful place to be.
John: Yeah, if you have the answer to that question then you have an unlimited marketing budget, don’t you. If you know that one of your marketing dollars turns into three dollars of revenue then why wouldn’t you continue that? Mark what would be a suitable minimum threshold for a budget?
Mark: Well if we’re talking about Facebook, you know our Facebook campaigns we start at around $500 per month to manage the campaign and it goes up from there. Facebook advertising then which is paid to Facebook, your advertising costs are going to range from 300 I would suggest as a minimum to a, you know realistic kind of budget for most small businesses is going to be more like $600 a month so if you’re in the 1,100, 1,200 dollar a month range that’s a good starting place; of course once it’s tuned up and in place and converting well then it’s just a matter of o.k., how many more do you want; what’s your capacity, how fast can you grow to meet that capacity and how big is your target market. If you’re limited by geographic area and there are only 30,000 people there, your markets going to be limited fairly quickly compared to someone who’s dealing with you know, the world and 7 billion people, so.
John: So there’s a management fee involved plus a AD spend.
John: And I think what I heard you say is about $1,000 a month is a good starting point.
Mark: That’s a good place to, that’s a good ball-park, to have in mind, I mean it goes up from there of course based on how difficult your target market is, how competitive it is, it will also go up based on how good your offer is. If you have a great offer it’s going to be easy, if you don’t have a great offer, if you’re not willing to discount for instance or you’re not willing to create a lot of value for somebody it’s just going to be really hard and honestly a lot of times we’ll just pass, we won’t, you know we want to make it successful for you and for your clients. You have to deliver value.
John: Hmmm, so how would the average business owner work out what return they would need in order to make a $1,000 a month AD spend make sense?
Mark: Well that goes back to our original question; how many leads do you need a week, I mean how many leads a week would make a difference to your business so if you know your simple information about what your profit per customer, what’s your total lifetime customer value you can figure out, o.k. well here’s how much I can afford to spend to get a customer in the door and then keep them as a customer because they’re going to repeat buy, hopefully.
John: Now, in your experience Mark, do your clients have that kind of data? Do they know what their average income per client or average profit per client? Do they have that data?
Mark: The best customers do the customers who are working with a business coach do.
Mark: Odds they often, they don’t have an idea about that. They’re just busy running their business as fast as they can every day, so . .
John: It’s my experience that once you get that data that actually makes the decision making much easier because it’s much easier to see that you’re not just kind of, you know, throwing money against the wall and hoping it sticks, they’re actually can make or can create the relationship between marketing spend or investment equals X return and that X is big enough to make the spend worthwhile.
John: So would you help a client work that out?
Mark: Yeah, we help them as much as they’re willing to let us help them, you know we have processes in place where we talk about you know, what are your target market, what’s your offer, what, what’s your value, what do you need. The big question is always what’s, how many leads do you need a week, o.k. how do we figure that out. I don’t even know, well let’s back that up, let’s break that down a little bit.
John: Well, that’s awesome. Well today we’ve been talking with Mark Bossert of Top Local Lead Generation and if you’re thinking you need some more leads than you’re currently getting and want some help to, to figure out how to do that, either on Facebook as we did in the example today or on Google or on Search Engines give Mark a call at 778-385-0098. Thanks Mark.
Mark: Thanks John