How Much Should You Budget for a Lead Generation Campaign?
A lead generation campaign is a targeted marketing effort to generate new leads for your sales pipeline. The goal of a lead gen campaign is to attract strangers and turn them into interested prospects who are willing to exchange their contact information for something valuable, such as a free e-book or white paper.
In order to generate leads, you need to spend money on marketing activities that will reach your target audience. But how much should you budget for your lead generation campaign?
How Much to Spend on Lead Generation Activities?
The answer to this question depends on several factors, including the size of your target market, the type of lead generation activities you plan to use, and your overall marketing budget
For example, if you plan to use pay-per-click (PPC) advertising to generate leads, you will need to factor in the cost of the PPC ads as well as the cost of any landing pages or other assets you need to create in order to drive conversions. Similarly, if you plan to use email marketing or direct mail, you will need to account for the costs of purchasing lists and designing and sending emails or postcards.
In general, most companies should expect to spend at least 2-5% of their total revenue on marketing activities. So, if you’re generating £25,000 in revenue per month, you should expect to spend at least £500 - £1250 per month on your lead generation campaign
Of course, this is just a general guideline. Some businesses may need to spend more on their marketing efforts in order to reach their target market, while others may be able to get by spending less. The best way to determine how much you should budget for your lead generation campaign is to speak with a qualified digital marketing agency like EXELA. We can help you develop a realistic budget based on your specific needs and objectives.
At EXELA, we charge an hourly fee of £99 per hour plus VAT for the work we do. The work is to set up the technology to support your marketing expenses and maximise your return on investment. Typically our clients invest £300-£500 with us to set up a campaign that can then run for years.
You will, of course, have a software licence fee to per for your CRM and marketing automation system. These are typically £79 per month.
Generating leads can be a costly endeavour—but it doesn’t have to be. By working with an agency that specializes in lead generation campaigns, you can ensure that your money is being spent wisely and that your campaigns are delivering a positive return on investment (ROI).
How much should you budget for a lead generation campaign? It depends on several factors, including the size of your target market, the type of lead generation activities you plan to use, and your overall marketing budget. In general, most companies should expect to spend at least 2-5% of their total revenue on marketing activities. Speak with a qualified digital marketing agency like EXELA Limited for help developing a realistic budget based on your specific needs and objectives.