1 June 2021
If you are hesitating to commit to buying leads for your business, chances are you are looking to grow your current pool of customers. And asking if you should buy leads is the same as asking if I should invest money into your own business.
If you wish to sustain or thrive in your business, you should understand that it is vital for any businesses to have a reservoir of potential customers. The best business already customers ready to pay for their yet-to-release products. Just take a look at Apple.
More frequently, we have financial practitioners asking us, why should i buy leads when i can simply generate myself?
Well, you could. That is if you are prepared to go through months of trial and errors, A/B testing of Ads, pumping of budget just to see marginal returns in your lead generation.
Why do we say so?
Again, the whole idea of a lead is customers that fall into the 4 quadrants. 1. Those that has the budget and wants to buy your product/service. 2. Those without budget but wishes to buy your product/service. 3. Those with budget however, are currently not keen in your product/service. And lastly, 4. those without the budget and will never buy your product/service.
Tell me, how do you intend to reach out to customers who are in group 1 and ideally group 2 and 3? The answer is, run many many campaigns on frequented social media platforms. And everyone in Singapore knows it is Facebook.
However, the reality is Facebook's algorithm is not easy to master. Yes it may bear a low barrier of entry to those aspiring to run their own campaigns and generate a steady flow of leads. But, ever since 2015, Facebook has been growingly concerned about the user experience on their platforms. Facebook rewards ads that are able to enhance user experience and interaction. In January 2018, Zuckerberg announced that the Facebook algorithm would now prioritise “posts that spark conversations and meaningful interactions.” That really gives organisations and businesses who rely on Facebook ad campaigns a big headache.
This is the Facebook algorithm as announced in 2021.
How does the Facebook algorithm work?
First, Facebook takes every post available in a user’s organic network (uploads, likes, interactions, and it scores those posts according to predetermined ranking signals)
Next, it obsoletes posts that a user is unlikely to engage with, based on that user’s past behaviour. It also reduces the likelihood of a content that users don’t want to see (i.e., clickbait, misinformation, or content that they’ve indicated they don’t like).
Then, it runs a “more powerful neural network” over the remaining posts to score them in a personalised way. (For example: Jane is 83% more likely to click on this than that.) and ranks them in order of value.
And finally, it arranges a nice cross-section of media types and sources such that it drives organic engagement and holds users' attention.
So how can we thrive under these new set of lead generation law you asked?
Heh. We would very much like to keep it a secret to ourselves. But we wouldn't mind sharing a little over a cup of coffee and of course, with a small fee.
Feel free to say Hello to our team and arrange for a callback. Till then, stay wealthy and healthy.
Sincerely,
Team CMG
Comments