In the world of online marketing, there's a bunch of acronyms thrown around that are often confusing to new marketers. It's important to know what these acronyms stand for and what they mean for your business.
What is CPL? CPL stands for Cost-Per-Lead. When you are determining your marketing budget, you may consider doing CPL advertising. This means you are paying only for leads that are delivered to you.
CPL advertising may be less targeted but is still a great way to go. Typically, CPL advertising can run anywhere from $1.00 per lead for loosely targeted leads to upwards of $100.00 per lead for highly targeted, "buyer" leads.
A "buyer" lead is a lead that has already purchased a product in the same or a similar niche as the product or offer you are selling. While $100 may seem like a hefty price tag, it may actually be a great deal depending on your CLV (oh no…another acronym!).
What is CLV? CLV stands for customer lifetime value and is actually the most important number you need to know in your business. the CLV will drive all of your other business decisions and will help you understand what is a reasonable marketing budget for your business.
To calculate the LV of your customer base, take the total revenue you've generated from your sales and divide it by the number of customers you've acquired. For example, if you have generated $58,000 from 40 customers, then the LV per customer would be: $1450.00.
Understanding your CLV will help you to know exactly what it will take to reach your goals. If your business goal is to achieve $1,000,000 in sales and your CLV is around $1,000 then you'd know you would need a minimum of 1,000 customers to achieve that goal.
Then you can set about planning and strategizing how to get there.
How can you tell if the CPL is good for your offer? It just takes a little math. For example, if you get a CPL of $8.00.00. If the Lifetime Value (LV) of your customer is $100.00, then spending $10.00 to get that lead would be great because you are 10X your investment.
What is CPA? CPA is cost-per-acquisition. This is different from CPL because with CPA you are actually paying for a closed sale or a specific action. This is a great way to advertise a product because you are paying for the action you have determined. It may be a sale, a lead or click. (In those cases you would also apply CPL and/or CPC).
CPA is often disclosed by affiliate offers so that the affiliate marketer will know the average cost-per-acquisition when they are marketing a product. This helps the marketer to adjust their marketing/campaign budget so that it is profitable.
For example, if an affiliate knows that the CPA of an offer is around $45.00 and the commission on each product is $100.00, they know that their profit will be around $55.00 after marketing costs.
What is a CPA Network?
A CPA network is a network of advertisers that will pay affiliates for a specific action. For example, ClickSure is a CPA network. Companies and advertisers will load their products into Clickbank and the affiliate marketer will then drive traffic to the various offers.
When a specific action is achieved, such as a sale, the affiliate marketer is then paid for that action.
Another example of a CPA network is Commission Junction. Commission Junction has thousands of advertisers, including some well known names like GoDaddy, Constant Contact, Discover Card, and more. The advertisers are broken up into categories.
As a website owner and/or affiliate marketer, you can choose to advertise any of these companies and/or their products. Some companies will you per click delivered, some for leads delivered and some for sales. They have decided on their CPA and you are paid for delivering the specific action.
As a business owner, you can choose to advertise on CPA networks. You then pay only for the specific action delivered.
As an affiliate, you can choose from thousands of offers that match your marketing niche, the niche of your list, and the niche of your website.
Source: Shannon J Lavenia
Showing posts with label traffic. Show all posts
Showing posts with label traffic. Show all posts
Monday, 23 July 2018
Monday, 16 July 2018
4 Ways To Boost Your Website Engagement And Conversion
People often ask me why, as a business coach, I specialize in working with creative professionals. The answer is, I love to see talented people fulfilled in their work, as busy as they want to be, and be compensated really well for what they do.
But what I learned from my 15+ years as an agent for independent copywriters, art directors and fashion illustrators is that talent and taste aren't enough. If you're going to land those coveted projects, you need to stand out, connect and be ready to close the deal.If the mere mention of closing the deal makes your feel queasy, take a deep breath! I'm going to share 4 easy-to-implement ways in which your website can help you do that. Ready?
1) Incorporate language into your website
Even if your work is 100% visual, adding language gives your work context, communicates your mission and helps clients get to know, like and trust you. Bonus, if your text is keyword-rich SEO rating will benefit from a nice boost.
Not a writer? No problem. Here are some ways you can easily incorporate language:
Testimonials:
Nothing boosts your credibility more than having other people say how awesome you are. Sprinkle testimonials throughout your site and be sure one is on your home page.
A positioning statement:
This can be a short paragraph, or 2-liner. Your goal is to state what you do, who you do it for and what they get out of the process. For example, mine is: "I help freelancers and creative entrepreneurs define what makes them unique, create a clear marketing message and strategy, and get more clients".
Your story:
I'd much rather read someone's story than another boring bio. That said, your story must have a purpose, structure and flow. Rambling childhood memories are not client attractive!
2) Present work that resonates with the client you want to attract
I recently did a website VIP planning and strategy day with a photo artist and one of her challenges editing and presenting her work. We started out by selecting only the images that she really loved and felt represented her vision. Sounds simple, right? But when factors such as what colors people in certain regions like and what you images you have in inventory (and therefore, are motivated to move) get involved, your vision can quickly become clouded. Next we printed out the image select and laid them out, left to right, on the floor (an old agent trick) to see how they flowed. We immediately saw that the edit would be much more impactful if we reversed the order. Funnily enough the opening image was one she had initially felt ambiguous about, but now made sense within context of the edit and flow.
Be objective, look at your work with fresh eyes and edit, edit, edit. If you can't do it alone, recruit an objective and constructive partner to help you.
3) Drive traffic to your site
One of the biggest mistakes entrepreneurs and freelancers make is subscribing to the belief that if they build it, people will come. It's a nice idea, but unfortunately it doesn't work that way. Prospective clients need several points of contact before they're ready to buy, so you need to be consistently on their radar. I've tried every method from cold-calls to promotional mailings, and the best way I know is to share high-quality, high-value content with your prospects - no strings attached. Whether it's a newsletter, blog, social media or give-away on your website, building and nurturing your list is invaluable.
4) Get clients to take action
One of the first questions I ask my coaching clients is "what do you want people to do when they get to your website?" Answers range from a blank expression to "enjoy the work". If you don't know what you want people to do, how are theygoing to know what to do?
Here are a few things you might want them to do, along with suggestions of how to get them to do it:
Join your mailing list:
Create something helpful/educational/gorgeous that they can download once they subscribe. Make sure that the offering really is of value and is related to the services you offer. For example, I offer a free 5-step guide to building a thriving creative business.
Call you:
Have a call to action that clearly communicates what you want them to do and what they will get e.g. "for a free 20-minute consultation call me" or " call me to discuss your next campaign". Make sure that you include a link that takes them to your contact page or your on-line calendar.
Check out your services:
You might create a 'Work With Me' button or link that takes them directly to your services page. Whatever your call to action is make it really easy for them to follow through on it.
5) Bonus tip: Have a submission form on your contact page.
If your contact page features just your email address and phone number, your visitors now have to find a pen, write it down, open their email, type it in... You get the point: the more obstacles there are between them and you, the less likely they are to make contact. Make it really easy!
Source: Justine Clay
But what I learned from my 15+ years as an agent for independent copywriters, art directors and fashion illustrators is that talent and taste aren't enough. If you're going to land those coveted projects, you need to stand out, connect and be ready to close the deal.If the mere mention of closing the deal makes your feel queasy, take a deep breath! I'm going to share 4 easy-to-implement ways in which your website can help you do that. Ready?
1) Incorporate language into your website
Even if your work is 100% visual, adding language gives your work context, communicates your mission and helps clients get to know, like and trust you. Bonus, if your text is keyword-rich SEO rating will benefit from a nice boost.
Not a writer? No problem. Here are some ways you can easily incorporate language:
Testimonials:
Nothing boosts your credibility more than having other people say how awesome you are. Sprinkle testimonials throughout your site and be sure one is on your home page.
A positioning statement:
This can be a short paragraph, or 2-liner. Your goal is to state what you do, who you do it for and what they get out of the process. For example, mine is: "I help freelancers and creative entrepreneurs define what makes them unique, create a clear marketing message and strategy, and get more clients".
Your story:
I'd much rather read someone's story than another boring bio. That said, your story must have a purpose, structure and flow. Rambling childhood memories are not client attractive!
2) Present work that resonates with the client you want to attract
I recently did a website VIP planning and strategy day with a photo artist and one of her challenges editing and presenting her work. We started out by selecting only the images that she really loved and felt represented her vision. Sounds simple, right? But when factors such as what colors people in certain regions like and what you images you have in inventory (and therefore, are motivated to move) get involved, your vision can quickly become clouded. Next we printed out the image select and laid them out, left to right, on the floor (an old agent trick) to see how they flowed. We immediately saw that the edit would be much more impactful if we reversed the order. Funnily enough the opening image was one she had initially felt ambiguous about, but now made sense within context of the edit and flow.
Be objective, look at your work with fresh eyes and edit, edit, edit. If you can't do it alone, recruit an objective and constructive partner to help you.
3) Drive traffic to your site
One of the biggest mistakes entrepreneurs and freelancers make is subscribing to the belief that if they build it, people will come. It's a nice idea, but unfortunately it doesn't work that way. Prospective clients need several points of contact before they're ready to buy, so you need to be consistently on their radar. I've tried every method from cold-calls to promotional mailings, and the best way I know is to share high-quality, high-value content with your prospects - no strings attached. Whether it's a newsletter, blog, social media or give-away on your website, building and nurturing your list is invaluable.
4) Get clients to take action
One of the first questions I ask my coaching clients is "what do you want people to do when they get to your website?" Answers range from a blank expression to "enjoy the work". If you don't know what you want people to do, how are theygoing to know what to do?
Here are a few things you might want them to do, along with suggestions of how to get them to do it:
Join your mailing list:
Create something helpful/educational/gorgeous that they can download once they subscribe. Make sure that the offering really is of value and is related to the services you offer. For example, I offer a free 5-step guide to building a thriving creative business.
Call you:
Have a call to action that clearly communicates what you want them to do and what they will get e.g. "for a free 20-minute consultation call me" or " call me to discuss your next campaign". Make sure that you include a link that takes them to your contact page or your on-line calendar.
Check out your services:
You might create a 'Work With Me' button or link that takes them directly to your services page. Whatever your call to action is make it really easy for them to follow through on it.
5) Bonus tip: Have a submission form on your contact page.
If your contact page features just your email address and phone number, your visitors now have to find a pen, write it down, open their email, type it in... You get the point: the more obstacles there are between them and you, the less likely they are to make contact. Make it really easy!
Source: Justine Clay
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