"How much will I pay for a lead?"
It's the wrong question.
The better question:
"How much does it cost for a conversion?"
There's no clear answer.
Last month we saw one business consistently pick up *conversions* for $2.24 (that's conversions into a deal - not a lead, and it's what happens when your ad gets attention), but it was a viral campaign so it hardly ever happens. Most leads cost between $4 - $12, and conversions are typically around 35%, but a good funnel playing the long game will see far better results. Inexpensive FHB leads are always a slow burn, and it's a leaky funnel, so it takes longer to measure the performance of those efforts.
The average conversion cost into an opportunity last month was around $60. Other targeted/segmented campaigns were closer to $100. Factor in business and SMSF and the costs were higher yet again.
Last month our guys returned more than $450m in Facebook volume, but they saw closer to 650m as a result of highly structured partner programs. The one-to-many partner funnels are always a more cost effective option than social, the quality of mortgage candidate is better, and the volumes are always higher. Ignore anybody that diminishes the value and importance of these programs. Just because you haven't leaned the correct method is no reason to ignore them.
We've had two 'failed' campaigns in the last could of years. One for a business on the Gold Cost, and another in Sydney. There's always risk... but it's short-term risk. That said, not a single campaign we've run in the last 12-months has returned conversions (that's document-submitting Opportunities) for more than $100, and any of those clients that we've directly supported can challenge us on this figure if that claim is flawed in any way.
The top-3 commonalities shared by the highest performing businesses:
1. Our website framework (a no brainier)
2. Positioned ads with amazing creative.
3. A *real* funnel.
Call me to learn more. 0400 777 300.
