Calculating the Cost per Lead – Data vs PPC in the Finance Industry!
Generating new custom is vital to any business, however the cost of generating and more importantly converting leads can often be prohibitively expensive. One of the most popular ways to generate new leads is via Pay Per Click (PPC), however before you go and invest in a by click campaign, you should review whether you can find most cost effective ways to get access to warm leads.
What is PPC?
Pay per click is an internet marketing technique where you, as an advertiser, pay a fee every time one of your ads is clicked by a user. The most popular technique is search engine advertising where, on sites like Google you will see advertising links listed above natural results.
PPC is an excellent technique as it allows you to place highly targeted advertising in a prime location for a selection of key search strings. Research shows that over 64% of users will select ads when looking for items on-line.
What is the cost per click?
Of course these directed links come at a cost. The price is set by the search engine provider and is according to traffic and your industry. To give an example for the finance industry PPC clicks can be priced at up to £5 per click, the average is almost £3 per click.
This may sound good, but you have to remember this is for every click and only a small percentage will go forward to convert to sales averaging around 2%.
Is there another way?
You may well consider PPC and it can indeed be a useful part of a larger advertising strategy, however do not underestimate the value of purchasing customer data. For example, you can purchase finance data, all opt-in data, for much less than £1 per contact. Remember also that this is not just for a prospective click but includes name, address and full contact details (mobile, land line and email contacts).
Generating warmer leads
The variety of data available is vast and the data cubes can be created to deliver the specific information you require. For example, if you were a ‘poor credit’ loan provider you could look to select data which lists all individuals who have been declined for a loan from mainstream providers. Here you will have the full contact details for people who are looking specifically for your product area and have been qualified by having gone through an application process but hitting a decline. For less than £1 per individual you can have access to this valuable resource.
What is data is available?
You can select, within reason, any dataset that you require suiting your business, from B2B lists through to consumer data including finance, home improvement, energy use and charitable donation.
If you need to target company directors who regularly give to charity, subscribe to wine clubs and enjoy golf you can request this and gain reputable, opt-in data which you can respond to personally with direct contact.
Introducing Data Giant
Data Giant is an organisation who can provide all your data requirements. It was grown out of a desire to offer excellence, they understand the pivotal position direct marketing has within every business and combines the need for high quality, legal data with professional customer service.
Data Giant in the UK is a most trusted data supplier. With many years experience in our management team, their team know the B2B, B2C & direct marketing industry inside out and can provide you with the data you require at a highly attractive price.
Full service provision
Data Giant also have access to their very own call centre with over 250 seats specialising in lead generation & data monetisation through in-bound and out-bound campaigns. Let Data Giant manage your whole lead generation operation for highly competitive prices and with measurable returns.
Find out more
Contact Data Giant – www.data-giant.com for a discussion of your requirements and a no obligation quote.