The issue is that your prospects have clearly changed, today more:
Frugalnomics is in full effect, and as a result, marketing is harder than ever before, requiring more significant investments in more content, more channels and more collaboration.
As well, your buyers have changed, so you’ll need new content that is more personalized, provocative, and value-focused, to fuel their need for control, break through the overload, connect one on one, and address the economic focus.
Is it Worth It? The Value of a Lead
The new content and tools are likely to require an investment on your part, to develop the new content and interactive tools to meet new buyer expectations. So how do you justify the incremental investment it’s going to take to drive these new programs?
Calculations can get complicated because marketing is often a non-linear process, with multiple touches and influences ultimately driving and opportunity and sale.
However, we aren’t looking for the absolute contribution, just a conservative method to determine if the value of each lead the marketing program generates, so we can be sure it will be worth investing in, and a so we can begin assigning some value to the program once its up and running.
Although a simple approach, we’ll use Incremental Sales Revenue as the basic metric to estimate the value of the program:
Number of Leads Generated By a Campaign * Lead to Sales Conversion Rate * Average Deal Size = Incremental Sales Revenue
Applied in the formula, this results in: