Based on the example, let’s say your website currently has a 0.2% conversion rate for leads. This is on par with our assumption that you receive 1 lead for every 490 new visitors.
After reading this post, hopefully you take one of two actions: hire us, or take action yourself.
Step 1: Define your objective
One thing we often see from clients is that they want more revenue from their SEO lead generation services. Revenue is a great objective to have, but just like an email collection or lead generation goal, it needs to be defined. When a client comes to us and says they want more revenue, we like to focus on the means that gets them to more revenue. For B2C companies, it’s usually email addresses. For B2B companies, it’s usually leads.
For the purposes of our example, we’ll say that our objective is $500,000 more in online revenue by the end of the year.
Step 2: Find Your Multiple
After deciding our objective ($500k in revenue), we’re going to do some math and analysis to find out how many leads we need in order to achieve our objective.
First, look at the average number of leads you’ve received in the last 3 months. Let’s assume that number is around 1 per week. Then, let’s assume the following:
- Close rate of online leads = 5%
- Close rate of online leads = 5%
Knowing your average close rate per lead and average revenue per client is extremely helpful in creating a SEO lead generation strategy. Based on these numbers (objective x close rate x average revenue), we know that we need to drive 1,000 quality leads in order to meet our revenue objective. Break this number down further and you’ll find that you’ll need about 84 leads per month, 20 leads per week, or 3 leads per day.
Step 3: Budgeting for your traffic
There are two major options to increase the number of leads:
- Option 1: Increase your conversion rate
- Option 2: Drive more traffic to your site
Let’s assume your website looks something like this:
Weekly visitors: 700
% new visitors: 70%
New visitors: 490
Current # of leads per week: 1
Let’s do more math.
Right now in our example we’re getting 1 new lead from 490 new visitors per week. That conversion rate is about 0.2%. If the conversion rate stayed the same, in order to get three leads traffic would have to increase to about 1,500 new visitors a month (objective / conversion rate).
Step 4: Decide your course of action
The point of step 3 is to help you determine the best course of action. Does it seem likely that your conversion rate will triple? Or does it seem more likely (and easier) to triple weekly traffic? To determine the best course of action, list out the ideas you have for both increasing traffic and your conversion rate. Which list will give you predictable and scalable growth? Which list can you accomplish on your own, and which list do you need to bring in outside help on?
Step 5: Execute
Once you’ve determined your objective, defined what you need to reach your objective, and identified how you’re going to reach your objective, it’s time for the hardest part: doing it. Prioritize your tasks and set up daily measurements to make sure your SEO lead generation strategy is working for you.
What you can expect:
- Work with you to define your objective
- Determine how many leads you need to achieve your objective
- Calculate the traffic and conversion growth needed for your objective
- Analyze and report on your website needs
- Determine the best course of action
- Implement growth tactics to generate leads
- Report on the results on a monthly or a monthly basis