What is Pay Per Lead?
Pay-per-lead marketing is a type of performance marketing. That is, the marketing firm must produce results before being paid. It can benefit both the marketing firm and the marketer. It is a mutual agreement for the “per action” service fee.
Businesses have had to find creative ways to generate clients, and one of those ways is through pay-per-lead marketing.
Many businesses find it very difficult to attract qualifying clients. Unfortunately, finding customers has become even more difficult in the digital age. Regardless of how much money is spent on running ad campaigns, it is practically impossible to ensure those ads are reaching the right people.
One of the ways businesses avoid wasting money on ads that won’t produce clientele is by finding leads. In regards to marketing, a lead is an individual that shows interest in a brand’s service or products.
If your business is in a competitive market, or if leads are just hard to come by, pay-per-lead marketing may be the right choice for you.
So, what is it?
The definition of pay-per-lead marketing is simple. Pay per lead is an online marketing payment model in which payment is received only after solid leads are provided. In short, pay-per-lead marketing is a cost-effective way to find great leads. Pay-per-lead ad campaigns decrease financial risk and give business owners a sense of predictability in leads.
How Do I Get Started with PPL?
For business owners who have only run traditional ad campaigns, such as SEO and pay-per-click campaigns, should look into how their current marketing campaigns are running. Prior to starting a new campaign, it’s important to know how many leads your existing campaigns are providing.
It is also wise to check in and get a feel for what your demographic is.
From there, you can consult with a PPL provider and determine some projections for how many leads to expect. This will make it easier to set goals and quotas.
The Value of Leads in Marketing
From a marketing standpoint, the term “leads” can refer to anyone who is interested in what a particular brand has to offer. Leads can be found in a variety of ways, such as through demographic information or by tracking their social media interests.
One of the most common marketing mistakes brands make is assuming that all leads are good leads. When it comes to attracting customers for your business, the quality of your leads is more important than the quantity.
A new brand, for example, can pay to have advertisements run across various social media platforms. While the brand’s advertisement may bring in some new customers, it may not be the most effective way to reach them.
