Today, we are learning about a very intense concept — generating leads! Buckle in for this last week of my 30 day make money online course; it’s about to get real. I’m talking about running ads, building a website, using funnels, and scaling your business. I hope you’re up for the challenge!
If you take a step back to the very first video, you should know that the key to success does not lie within how many followers you have or how much traffic you get. Instead, success is all about generating leads. If you want your online business to stay afloat for more than a few months, you need leads!
What is a Lead?
A lead can be a phone number, email address, or any other piece of contact information. Leads are different than followers because, unlike the latter, you actually own leads. Even if you have a gazillion followers on Instagram or TikTok, you still don’t own them — the social media platform does. On the contrary, leads are yours to use, contact, and market to.
Before we get into the bulk of the lesson, we need to talk about CPA, or cost per acquisition. CPA represents the amount of money you have to spend to bring in a lead. This is a very important number! CPA is also commonly referred to as CPL (cost per lead). A good CPA is generally under a dollar.
Many times when affiliate marketers run ads, they are looking to get the customer to click and buy directly from their post. This may seem easier, but in reality, it costs a lot more and the conversion rates are much smaller.
Before you begin running ads, you need to remember that the more you ask of a company (Facebook, Instagram, Google, etc.), the more you are going to end up paying. For example, in the scenario above, because the affiliate marketer is optimizing for sales as opposed to leads or clicks, their ad…