Hey Jon! Question for you. Do you have an overall Quarterly Lead Growth % from all sources? In your posts you go over the lead growth %'s in Organic Leads and PPC Leads, but 'd imagine there are other lead gen sources than just those two, and am curious what the overall growth or decline has been in your experience compared to what my HVAC brand is experiencing. Thank you!
Hi James! Thanks for reaching out. I don't have normalized and standardized total lead data sets to pull something I'd feel confident in sharing yet. There's varying settings and definitions of a "lead" even within some businesses depending on the agencies they work with, how things are set up (from call tracking to online scheduling to form tracking), so this is a trickier one to answer. However, our team loves leaning into the challenging problems, and we have exciting enhancements coming and hope to tackle something like this in the future. In the meantime, we feel very confident and dialed in with our specific channel subsets. Anecdotally, lead volume year-over-year has been higher, but customers are a little more hesitant (more getting 'stuck' in unsold estimates). We're also seeing more and more customers convert via chats, forms and online scheduling...something to keep in mind by offering multiple ways for customers to convert.
Quick question. How is your cost per lead determined. Are your leads defined as calls over a certain amount of minutes or any call? We just want to make sure we are comparing apples to apples when we look at our data vs industry data. Thanks in advance. Blythe.Grates@intermountainhs.com
Hello! We report on customer acquisition cost, not cost per lead for this very reason. There are varying definitions of what a lead is and it varies brand to brand, agency to agency. Customer acquisition cost gets to the heart of what we are really trying to solve for: how much do I pay for an actual customer who spends money with me by channel or campaign? We’ve found this to be much more useful and reliable as a metric that can’t really be adjusted - it’s the same formula for everyone. The number of paying customers in a given time period divided by the spend in that time period. I hope this helps!
Hey Jon! Question for you. Do you have an overall Quarterly Lead Growth % from all sources? In your posts you go over the lead growth %'s in Organic Leads and PPC Leads, but 'd imagine there are other lead gen sources than just those two, and am curious what the overall growth or decline has been in your experience compared to what my HVAC brand is experiencing. Thank you!
Hi James! Thanks for reaching out. I don't have normalized and standardized total lead data sets to pull something I'd feel confident in sharing yet. There's varying settings and definitions of a "lead" even within some businesses depending on the agencies they work with, how things are set up (from call tracking to online scheduling to form tracking), so this is a trickier one to answer. However, our team loves leaning into the challenging problems, and we have exciting enhancements coming and hope to tackle something like this in the future. In the meantime, we feel very confident and dialed in with our specific channel subsets. Anecdotally, lead volume year-over-year has been higher, but customers are a little more hesitant (more getting 'stuck' in unsold estimates). We're also seeing more and more customers convert via chats, forms and online scheduling...something to keep in mind by offering multiple ways for customers to convert.
Quick question. How is your cost per lead determined. Are your leads defined as calls over a certain amount of minutes or any call? We just want to make sure we are comparing apples to apples when we look at our data vs industry data. Thanks in advance. Blythe.Grates@intermountainhs.com
Hello! We report on customer acquisition cost, not cost per lead for this very reason. There are varying definitions of what a lead is and it varies brand to brand, agency to agency. Customer acquisition cost gets to the heart of what we are really trying to solve for: how much do I pay for an actual customer who spends money with me by channel or campaign? We’ve found this to be much more useful and reliable as a metric that can’t really be adjusted - it’s the same formula for everyone. The number of paying customers in a given time period divided by the spend in that time period. I hope this helps!