Minimizing your spend is always a good goal. The trick is doing it without negatively impacting how many leads you’re getting.
Ideally, you can cut down on cost while also increasing your lead volume.
There are a number of ways you can mitigate your spend without your leads taking a hit. Let’s look at how!
Taming the Cost per Lead of Email Marketing
First of all, a quick primer on what cost per lead is (as opposed to total cost). Take how much you’ve invested into a given email campaign – your total cost for it. Then divide that by how many leads you got from that campaign.
There’s how much you paid per lead. That goes for any channel, of course, not just email marketing.
If you’re looking to reduce your cost-per-lead, it boils down to two concepts: spend less money or bring in more leads. Or, ideally, both.
There are numerous ways you can achieve either or both of these aims.
Part 1: Bring In More Leads
If you spend the same amount of money but bring in more leads, you’ve spent less per lead. Makes sense, right?
It sounds easy, but you’re not in direct control of how many leads you get, so you need to start testing out things you are in direct control of.
That involves CRO (conversion rate optimization) on your landing pages, of course. But if you want more leads converting, you need more people clicking through to your landing page – and that means improving your email body content.
Let’s work backwards, starting with where the conversions happen – your landing page.
First off, if you’re not using a dedicated landing page for each of your campaigns, you really should be. It’s all too common for marketers just to send people to their home page or product page from their emails.
That doesn’t work nearly as well. Your home page likely doesn’t have much detailed info about your product, or a form for them to fill. The content is most likely not exactly matching what your email said, and that’s very important too.
The idea is that it’s as easy and frictionless as possible for a contact to convert. Every time they have to scroll or click around to try and find your form, you’re losing potential conversions who exit the page instead.
People just don’t have the time (or attention span) to search through your site for a way to sign up for a demo or get more information.
Instead, take the time to create a landing page devoted specifically to that exact campaign you’re about to send.
Make it exactly match what your email says. Use the same phrases and language. The purpose of the landing page is to give your contacts an easy place to convert … but also to give them all the information they need to want to convert.
That means expanding on the claims and statements in your campaign, giving more precise information, and educating the contact. Use images, graphics, and video as well – the easier you make it for them to learn about your product, the more likely they are to convert.
Also pay attention to your form itself. Make sure it’s placed “above the fold”, meaning that it’s visible immediate on the page opening without having to scroll.
Keep it as short as possible, too. More fields to fill in means more friction, which in turn means fewer conversions.
I get it – you want to know everything there is to know about your contacts in order to more successfully coax them down your funnel. There’s time for gathering that information later. The initial conversion should be as quick and painless as possible.
You can always get them to fill in more details later.
Email Body Content
Now that you’ve got a solid landing page ready, you need to convince people to go look at it.
It’s important to remember that you only have a very brief window to make that happen – think about how much time you spend really reading all those promotional emails you get in your inbox. Not much, right?
You need a strong hook to grab their attention, and interesting, valuable content to keep them reading. Finally, a clear call to action should drive them right over to your landing page.
When crafting an email campaign, make everything about the reader. Nobody cares how awesome your product is. They want to know what it will do for them, which of their problems it will solve, so focus on that.
Contact- and benefit-oriented language is far more effective, but for that, you need to understand what your contacts’ problems are in the first place, and how your product solves them.
If you make it very clear from the outset which problem you’re about to help them solve, they’re more likely to keep reading.
Let me give you an example from my inbox. In addition to writing, I’m also a sound engineer, so I get a lot of emails around that.
One email I got recently opened up with the question “Are you struggling with thin mixes?” and then proceeded to explain how this new course they offer can help solve that. If I were, in fact, struggling with thin mixes, then I would probably have clicked to learn more.
Even though I don’t have that problem, I still read the email – just to see what solution they would offer. Call it professional curiosity.
That opening works well for them, I’m sure, because that’s a common problem a lot of beginner sound engineers have. Therefore, it was a pretty good bet that a lot of their contacts would be interested in their solution.
You should do the same thing – understand a problem that a lot of your contacts will probably have, and open with that. Then tell them how you can help them solve it.
If they’d talked about how awesome their course was and how many amazing awards their instructor had won, instead of focusing on the actual problem their course solves, it would have been far less interesting.
Make your entire email about solving that particular problem the reader has, and you’ll see better results.
Okay, backing it up further – to get eyes on your email, you need people to notice it and open it. And that’s what your subject line does.
Don’t neglect it. Subject lines are often tacked on as an afterthought, which is silly – if your subject is bad, nobody’s going to click it and read your email.
Spend time crafting and refining your subject line. Put as much work into it as the whole body copy. Don’t forget to use personalization tokens – the contact’s first name or company name are the top contenders here.
Part 2: Spend Less Money
The obvious answer to “how can I decrease cost” is to spend less. But that doesn’t really translate to CPL. If you change nothing but how much you’re investing, you’ll generate fewer leads. Your total cost will be lower … but your CPL will stay the same. Just with fewer leads coming in.
That doesn’t help at all. That’s the opposite of what you’re trying to do.
So if you can’t just cut down on investment to reduce CPL, what else can you do?
Simply put, invest more efficiently. If your email marketing is focused on nurturing inbound contacts, that’s great – but it’s not quick. You aren’t generating leads with email, you’re waiting for your content marketing to bring them into your funnel where you can nurture them.
If you find you aren’t getting as many leads as you’d like from that process, you can look into a more impactful way to use email.
That’s where email lead generation (ELG) comes into play.
Clickback’s ELG platform gives you a way to generate a lot more leads. It’s a one-two punch that delivers plenty of value and can get your lead volume where you want it.
Here’s the first punch: you can send email marketing campaigns to cold B2B contacts, driving them to your landing page and into your funnel. The real kicker is that you can do this at scale – if you want to send to hundreds of thousands of contacts at once, you can.
That’s a bit more efficient than waiting for them to trickle in by ones and twos, but there’s plenty more to it than that. There’s a massive amount going on under the hood that maximizes your deliverability, so you can be confident that your campaigns will end up in inboxes, and your sender reputation stays pristine.
The second punch: contacts are tracked and nurtured using a unique system called Website Visitor Intelligence™ technology – and it works whether they converted or not. You gain a whole lot of valuable insight into how people are engaging with your website, which you can use to optimize your conversion rate.
Contacts who didn’t convert go into nurturing campaigns, so you can keep them moving towards that conversion that puts them into your MA (marketing automation) or CRM (customer relationship management) software.
It’s more than just an email sending platform. It helps you take your cold contacts on a journey all the way to warm, opted-in lead status, and is packed with tools to help you get as many of them there as possible.