If you’re new to lead generation or at least new to the more advanced techniques and strategies, it’s actually not a bad thing for you to spend extra.
True, any extra spending is generally a bad thing. However, if you’re struggling to justify your current ROI, it’s best to understand it in terms of your learning curve.
It’s like playing a new role-playing game. You don’t know what you’re going to face as you progress. That’s why you buy a few extra items and a power-up here and there just to be safe. Yet, as you learn to master a game, these things become unnecessary and you don’t spend as much as you used to.
It’s a classic case of using skill to cut down costs, but that never means you have to focus on cutting costs first. It doesn’t have to be a chicken-or-egg scenario. If you’re new to lead generation campaigns and don’t know as much as you’d like, don’t panic if you end up with some expenses during your first tries. Instead, stay focused on what you’re trying to learn. Here are some suggestions that can help:
- Budget in advance – If you know it might be pretty costly the first time around, budget in advance. Don’t be quick to cut corners. In addition, learn to keep budgeting ahead even if there’s an increase. You can use it to supplement the things you’ve learned from your campaigns by investing in additional resources (e.g. Case studies).
- Be honest about what you don’t use – If you realize that calling during the morning or evening doesn’t make much of a difference, why stick to the routine? This is part of how skills gradually reduce the costs of your business processes. At some point, you have to be honest about what doesn’t work and know when to skip throwing more money at it.
- Outsourcing as an anesthesia – If costs are part of the growing pains, outsourcing every now and then can at least numb the agony. It’s a tried-and-tested means of staying focused on what you want to develop inside the office. And as you keep on growing, your outsourcing strategies might also end up cost-effective.
When you spend extra, you actually protect yourself from making things all the more expensive if you make typical marketing mistakes at an even lower budget. Some of the errors could have long term consequences that a higher budget wouldn’t be able to fix. Therefore, better safe than sorry. Don’t worry when you incur extra costs if it’s still your first time generating leads.