It is important to understand the way we view and approach marketing.
Leads – An Important Leading Indicator but Not a True Measure of Performance
A lead is a direct result of your marketing efforts and occurs every time your phone rings or a customer engages with you via another channel, such as chat, email or social media. Our job is to deliver as many highly qualified leads to your business as possible. Some measure this as Cost Per Lead (CPL). We believe this is important but not a primary driver, as it doesn’t consider your ability to convert leads to customers, which is essentially what you are trying to achieve.
How We View Close Rate
Close rate is the rate at which you convert a customer from a lead, to a sale, through your world-class sales process. We can’t control this, but we may be able to influence this based upon our experience. This may not mean at this point they are a customer, as sometimes there is fall out between completing a sale and completing the work. We go the extra mile – we view the completion of your work as your conversion rate.
Delivering Conversion: Our Methodology, Your Operational Excellence
We view conversion rate as the rate in which you convert a lead to a customer. This defines our Return on Marketing Spend (ROMS) strategy. This metric is measured by the number of leads delivered to you and your ability to convert those leads to a paying customer. It considers your total dollar spend, by channel, to deliver that result.
With all of our marketing strategies, our first goal is to develop a good baseline of performance within each campaign. A campaign is any marketing channel we deploy to generate leads for you. Sometimes it will immediately hit your CPA targets. Oftentimes, it will require additional testing and refinement. Don’t worry – this is a partnership, and we understand marketing and your finances. Our marketing budgets incorporate testing costs to deliver you the best results. If you are already in a channel, great! Then we have a baseline to begin our work. If you’re not, that’s okay too… we will be diligent about establishing baseline metrics in order to measure improvement over time.
Why We ThinkFirst
A customer acquisition strategy is what you get when you align your business strategy with your marketing strategy. ThinkFirst is a multi-disciplinary approach that leverages your financials to determine your customer acquisition cost and growth targets. From there, we build the infrastructure and testing strategies to achieve those growth targets.