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What Cost Per Lead !
What Cost Per Lead !
September 4, 2009
Robin Caller’s take on pricing of online leads in UK.
I read with interest a recent US article http://www.clickz.com/3634831 –
which suggested that average prices per lead had been calculated. I truly
wondered if the research had any merit closer to home, in UK.
At a recent IAB “lead generation”
taskforce meeting in the UK, the question arose as to whether the taskforce
ought to suggest prices for leads in the white papers we produced.
The final decision was to keep prices out of white
papers – but ensure that the white papers explained why certain leads may cost
more than others.
The debate in the room seemed fairly well set –
there are brokers who can sell large volumes of leads at low prices and there
are specialists who can sell low volumes of leads at higher prices.
At these opposing ends of a spectrum, it became
unreasonable for the IAB or any white paper to suggest a “reasonable”
or fair market price. Instead, it seemed
more sensible to outline and define the factors that might reasonably affect
the price of a lead.
The X-Y axes of the graphs for pricing appear to
be fairly well set also, but they become more varied, for example:
(i) If incentives are used by a supplier to
generate a lead for an advertiser, the relevance of the offer will impact on
the quality of the lead.
(ii) If
incentives are used by a supplier to generate traffic to their site, but not
actually to generate the lead, the relevance of the offer, plus the clarity of
presentation, will impact on the quality of the lead.
(iii) If
the advertiser wants to be the sole acquirer of the lead, then the quality of
the lead will be higher than when the lead is also acquired by several
competitors and so the multi-variants
present themselves.
A rather simplistic and disingenuous argument
would be that “every lead will find its own price” and so it is not
for the industry to clarify the right price, but allow the market to find
itself in due course. However, it is worth pondering just how much life
insurance and pension miss-selling took place before the financial services
market found itself – if indeed it has. So, in the early years of online lead generation,
who would argue that tens of millions can be spent badly before the online lead
generation marketplace finds the “right price per lead”.
And what is abundantly clear already is that the
right price for a lead depends massively on the lead conversion process, CRM
management, and fulfilment capabilities of the lead buyer. Put simply, the
highest quality lead, sourced from the hottest hotbed of qualified leads in the
world, is valueless the acquirer who does nothing with the lead for a
year. As always, there’s more than one way to look at things.
Keeping aside the vast expanses of the US and their “quantity and speed
over quality and caution” mantra, let’s get back to the issue of pricing
leads in the UK.
Worth pondering, in all this, is whether an
advertiser can truly obtain “impartial” advice from a company that
actually “sells”, or “buys and sells” or
“generates” leads? In academia, a “conflict of interest” is
generally volunteered when a conflict of interest might be present.
For these reasons, I hope that the IAB taskforce, and the white papers we
produce, will go some way to introducing a “best advice” philosophy,
and an “utmost good faith” principle, ensuring that each company
offering a lead price will explain – as well as it can – why that price is
relevant to the particular methodology used in generating or selling a lead.
Until such time as the supply side is ready to volunteer itself to the
transparency of definitions for each “lead generation processes” –
which I believe it will do in double-time – the buyer should test, assess,
revise, optimise, and assess a wide variety of lead suppliers.
After
all, it is rather simplistic and plain wrong to believe every customer can be
acquired for the same price as they are acquired through a Google PPC campaign,
just as it is rather simplistic (and plain wrong) to believe every customer can
be acquired for the same price as they are acquired through a billboard
campaign.
At the same time as all these factors are known, the growing band of
companies involved with the IAB taskforce, it is clear that “online lead
management” and lead generation are areas of online marketing that rank
highly in the thoughts of most marketers. The recession has done much to
inspire a search for increased efficiency in many areas of advertising and
marketing.
– ENDS-
MULTIMEDIA ELEMENTS
QUOTES
Click here to follow GoAllOver on LinkedIn and LolaGrove here
Quotes by Robin Caller, Founder, GoAllOver Ltd., UK
1. “Keeping aside the vast expanses of the US and
their “quantity and speed over quality and caution” mantra, let’s get
back to the issue of pricing leads in the UK”
2. “It is rather simplistic and plain wrong to
believe every customer can be acquired for the same price as they are acquired
through a Google PPC campaign, just as it is rather simplistic (and plain
wrong) to believe every customer can be acquired for the same price as they are
acquired through a billboard campaign”
3. “A rather simplistic and disingenuous argument
would be that “every lead will find its own price” and so it is not
for the industry to clarify the right price, but allow the market to find
itself in due course.”
Please contact Gunjan W. for interviews or additional quotes from Robin Caller.
Notes
to the Editors
- ABOUT GOALLOVER: Since October 2001, Goallover Limited has been responsible for developing, introducing, and delivering new market solutions to the UK online advertising industry. Amongst its “finds” and companies launched into the UK are P2P file sharing platforms Kazaa, Morpheus and Grokster, Tickle Inc, UGO.com, Glam.com.
- ABOUT LOLAGROVE: LolaGrove is the UK’s only independent lead management software,
capable of validating and verifying leads being bought and sold. The
Goallover team affirms in LOLAGROVE’s unique verification mechanisms mean that data
transacted via LOLAGROVE is of the highest quality.Originally developed in 2006 for Monster Inc’s consumer division
and deployed across sites such as Bebo, Ringo, Hi5, LoveHappens and
Tickle, LOLA was designed and built to manage the lead generation business
of Monster’s Grapevine consumer network.
- ABOUT ROBIN CALLER: Robin Caller,41, from Newcastle upon Tyne, hold a BA in Psych from
University of Newcastle and an MA in International Business, University
of Westminster. Robin joined the online industry in 1995, originally selling
domain names, and then taking a role with FortuneCity where Robin became
the European Director of Sales and Business Development. FortuneCity market
capped at 1.2bn Euros at the height of the first dotcom boom. Robin founded
Goallover in 2001, and has spent the past 8 years delivering advertising
solutions to brands and agencies. Robin has spearheaded the establishment
of the “lead generation” taskforce at the IAB, while his company,
Goallover, currently license our industry-leading Lead Management software,
LolaGrove, to agencies and brands globally
RELATED LINKS
CONTACT INFORMATION
-
Gunjan W (Client)
GoAllOver Ltd., UK
InHouse PR personnel
Suite1, 6 Owen Street, Angel,
London EC1V 7JX
207 843 0130 (office)
207 278 6570 (fax)
783 771 5596 (cell)
Technorati Tags: online lead generation | cost per lead | UK online advertising | online advertising measurement | ROI | UK OLG | CPL
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So is PR education important or work experience is the best teacher ?
Last bead in the debate series was the topic – Success in PR is determined by personal qualities and contacts; PR qualifications are irrelevant. A perfect ending for the MA PR 2009 class.
I missed the class debate but from class mates I understood the result of the debate was – Gaining a PR degree would be a symbol of showcsing your dedication and commitment to PR profession. Fair enough I thought. Thinking of from where I come from,India, I feel strongly that a degree in PR will really help PR aspirants to understand the mechanisms of the PR industry. And if I have to speak globally, still I feel its always to upgrade your knowledge and learn what is written in those PR books. So that you have an extra edge over others.
Work experience will teach you ON THE JOB activities. It will boost your self confidence in dealing situations, dealing media relations, dealing with clients. A PR degree on other hand will teach you how to plan and execute strategies. Introduce to the world of various case studies unheard of. In my opinion, a PR degree will do no harm to your career. It will just add to your personality. A PR degree will sort you out at the first day of your work.
Universities and institutions are not fools to run a PR degree course with them. Many argue that if it is learning from books then we can buy books and do our studies. But I feel devoting 7 months of study will be more helpful rather than the fragmented way of studying. For instance, the degree helped me who had a year’s exerience in the Indian PR industry. I decided to take up this course so that I thoroughly understand the nature of the PR industry on a global level too.
The post tittle is a very subjective question to be answered. No knowledge goes waste when pursued at the right time.
The second half of the lecture was interesting as we discussed job opportunities in UK and not to forget the WHITE LIES. Its a difficult scene to get jobs but not an impossible one.But we should not forget that our degree has equipped us with some fantastic weapons [InDesignCS3, New media, working in multicultural teams, presentation skills ]
I feel blessed that I got this chance to be among people from diverse cultures. I wish allya mates all the best. Rock the interviews and let us know if we stand a chance in your agency 🙂
Before I end this post…watch the below video to get some tips on writing the resume…I hope it works.
ALL THE BEST FOR YOUR FUTURE.
Filed under career work experience
Think Global Act Local: the new mantra for International PR
I would like to convey what Robert S Leaf, co author of Handbook of PR & Communication, reveal about how the profession of PR became international.He speaks about the factors and the forces behind internationalistion of PR. – By 1980s PR was no longer restricted to American soil or certain European countries. It was spreading it wings and what drove PR to spread these wings? Competent consultancies were born, IPRA became more strong in Hong Kong,Ghana,Malaysia. Major impact of IPR was seen in the beginning of 1990s when cross border activities or put it as ‘globalisation’ increased in countries such as Pacific rim, China, Russia. Communicating in foreign land necessiated an increase in communicating with the government,local community and employees.These factors changed dramtically the profile of an average PR practioner. ‘Globalisation refer to the growth of worldwide networks of interdependence.’ [Tench & Yeoman pg 115].
The question we discussed in the class today was – Does IPR get lost in translation in some countries ? The answer was SOMETIMES it does. There are various reasons to list down. I could see few important points popping up. They are –
- Diffrences in practicing of PR in diffrent nations.
- Companies [clients] have adopted globalisation.
- PR is responsive to change.
- Diffrences in international relations and diplomacy.
These points shout out loudly and say that the profession has become globalised.
Forces that drive ‘Think Global and Act Local’, in PR context, are
[1] Understanding the publics local culture,customs and tradition is needed in order to send your message across effectively. The key to successful business in a foreign country is how quickly you become a part of that market. A new global culture is emerging parallel to the global consumer society. Interactions between cultures are significantly influenced by the globalising cultural forces, including the intnl. Media.
[2] Certain marketing concepts are meant alone for an individual market. IPR activities should abide by those marketing guidelines.
[3] Govt. relations are very sensitive and vary from country to country. Govt. relations is a specialized skill and calls for a special expertise in each country within which a firm operates.
[4] With increasing legislations aimed at companies or products, many companies use public relations.
[5] Another driving force behind internationalisation is the information revolution, which is a result of rapid technological advances in computers, softwares and communication.
[6] Environmental issues, health problems, diseases, human rights, migration, organised crime or organised WMD or terrorism are global issues which need to be addressed through the mass media.
Filed under global international PR
World’s Biggest Media Conversation Has Begun
| CONTACT INFORMATION: | |
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World’s Biggest Media Conversation Has Begun
Social media poses threat to traditional media in terms of popularity, ad spend and content.
London,UK – March 2,2009
Breakwater Communications reveals the slidecast which compiles facts and figures as to how social media is posing threat to the traditional media.
Highlights of the slidecast –
1. Geoff Livingston’s adapted version of the long tail theory for the media industry reveals the new marketplace for the media tools.
2. Universal McCanns WAVE 3 reports that there are 184 million bloggers in the blogosphere.
a. More than 50% have joined a social network to share and create content.
b. 36% think more positively about the company which has a blog.
3. 133,000,000 blogs where indexed by Technorati since 2002
4. Blogosphere stats on thefuturebuzz.com reports 900,000 average number of blog posts in a 24 hour period.
5. Thefuturebuzz.com reports 59% bloggers who have been blogging for at least 2 years.
a. 81 languages used to communicate in the blogosphere.
b. 77% of active internet users who read blogs.
6. PricewaterhouseCoopers research reveals the internet advertising expenditure will grow from USD 40,000 millions [2008] to approximately USD 70,000 millions [2011].
7. OfCom Communications Report 2008 reveals
a. 17% of those with broadband watched TV over the internet
b. 26% of those aged 15‐24 claim to use the internet for ‘watching TV programmes’. (up by 16% in 12 months)
c. 51% used it for ‘watching video clips/webcasts’ (also up by 16% over the same period.)
Spokesperson of Breakwater Communications
Social media poses serious threat to traditional media.
MULTIMEDIA ELEMENTS:
QUOTES
1. Gunjan W., Spokesperson, Breakwater Communications
“I personally feel that we are in a fractured media environment where the increasing stats of social media are threatening traditional media. social media will grow but traditional media will not die. They will depend on each other to reach their audiences.Sharing your knowledge with others is and will be the order of the day. Human beings will evolve and revolve around content they read,hear and watch from the best possible medium available to them. This slidecast will enlighten the media professionals.”
2. Steve Pratt, Digital Guru
“Traditional Media will have to answer the big question- is your future the content business or the distribution business?”
For more quotes from Steve Pratt, Gunjan W. and Chris Anderson please email your queries to wgunjan@gmail.com.
To get the complete media forecast for 2009 from Clay Shirky, email to wgunjan@gmail.com
Points for Editors:
1. Pricewaterhouse Coopers conducted the survey alongwith World Newspaper Associations. The figures indicated are the global figures.
2. Forrester Research conducted the research with companies having 200 or more employees.
3. Universal McCann WAVE 3 is a research conducted among 17,000 active internet users worldwide.
About Breakwater Communications UK
Breakwater Communications is is a media consultancy that caters for digital PR and communication.We work with a range of clients, which operate within a variety of industries and sectors. Whether it is computing, design and development, digital and traditional marketing Internet, IT, law and technology, it all comes back to communication. We are headquartered in London and have 70 offices worldwide.
Technorati Tags: tradtional media vs social media | new media vs traditional media | old media vs new media | tradtional media threat to social media | social media threat to traditional media | clay shirky | steve pratt | chris anderson long tail | geoff media | geoff livingston | geoff livingstone | gunjanw | wgunjan | gunjan wathodkar | social media recession | socail media | guardian UK | media forecast 2009 | blogosphere stats | blogs statistics | Ofcomm | Ofcom report 2007 | ofcom report 2008 | ofcomm marketing report uk | social media threat to traditional media | Matt Holland | Bhairavi Gat | Pandit ravi kumar sharma | westminster university | ma public relations | nwe medai | social media challenge traditional media | forrester report | forester research | social media and recession | media conversation | world’s biggest conversation | big media conversation | media conversation | pricewaterhousecooper social media | universal mccann wave 3 | universal mcann wave 3 | indexed blog | blog language | the future buzz | future of media 2009 | media future 2009 | guardian media future 2009 | technocrate social media
Filed under new media PR media conversation
Slidecast: World’s biggest media conversation is here!
As part of my New Media and PR module I have sucessfully completed my first slidecast. This slidecast explores how social media is posing a threat to traditional media in 3 aspects. Click on the play button to discover the three aspects. Positive criticism appreciated.
Filed under new media PR media conversation
Me [woman] and Public Relations
PR happened to me by chance. I was in a events company before joining a PR firm. I get a call from my best friend askin,”Gunjaaa wanna work together. Just come for an interview tommorow.” I thought nothing is wrong in giving a shot. Next day – got ready,looking crisp in my formals,with documents in one hand n bag in another hand I walk in a place called Percept Profile. Waiting for the VP to arrive, to take my interview, I was asked to sit on a comfy chair near a GLASS WALL. Through it all I could see was girls and ladies running around the office. I said to myself, “Oh My God…no guys in the office…there must b real good bitching sessions in this office !”. Finally I saw a gentelmen entering the corridor who was going to take my interview. “Phew !!!” I heaved a sigh of relief.
The debate ‘ women will always work in the PR industry but will never run it’ proded me of my office interview day. Returning back to the class debate, ahhhh what a heated debate that was…both the team members where ready to pounce on each other. I enjoyed the session. The concourse of the debate,i felt,touched various issues. From discriminating gender qualities to handling of PR jobs to attitudes affecting the workplace.
When Michaela was jotting the qualities of man and women, I felt like I am dicephalous.Because I was thinking from both the ends how a guy n a lady behave at the workplace and specially in PR. I had taken a quiz ages ago to know if my brain is male or female and the results where that my brain posses traits of both male and female. But that was ages ago,so I decided to take this test once more. I bumped across BBC’s SEX ID test.
Went through this 6 part test and the result was the same. My brain can judge on spatial,verbal,logical,emotional,systemising the way both male and females may do. So that means I think from all the angels !!!
I took this test for one purpose. When we say that PR is a profession for females, I guess we should think about it once more. If my thinking abilities are both of male/female…so does it mean I am not fit for this job ? A particular profession I believe has nothing to do with one’s gender. Just because more females take up this profession, one cant say that it is for females. I am a staunch believer of – that a particular job should be defined by one’s MERIT and not their gender.
Well yeah its a debatable topic but I believe in this phhilosophy…if some one [including the third gender] has to excel in some field they will excel any how. U just need to have that passion within to excel in it.
Filed under women and pr
BRAND OBAMA: 10/10
Its 1.30 am and its 14th FEB…. Wish u all a Happy Valentines Day!! If you look the other way round even the date 14th Feb is branded….VALENTINE’s DAY. 🙂
Thousands of people around the globe have blogged about brand Obama and now its my turn.
Rama and my American mates had put up a very good presentation on brand Obama. This presentation coming from the Americans and one Obama enthusiast was a piece of honesty. They were totally into it. Specially Stacy sporting that Obama family batch on her. They where the proud Americans that day.
It seemed to me that they did not have enough time to practice the presentation but as I saw, it was near to perfection. As the presentation touched on important points like short history of Obama and the Obama brand build up, I felt something was missing. Since my graduation days I was hammered with the idea of ‘ BRAND LOGOS SHOULD BE UNIFORM THROUGH OUT THE COMMUNICATION CAMPAIGN ‘ and ‘BRAND CONSISTENCY’. I asked myself – Did Obama really used one logo throughout the campaign? Didn’t his communication strategy team have any other sub logo or something like that. Surfed the net and yeah I got this template –
Brand Obama fulfills the 5 critical approaches to contemporary political communications.
Now this is what I call THE BRAND STRATEGIST’s brain work. The consistency is maintained by the blue semi circle ‘rising sun’ and the stripes below that. Just have a look – the way his team has played with the logo to reach out wider auience. No wonder…majority of the American hearts stand up for OBAMA!!
My favorite logo is the WOMEN FOR OBAMA. Which is your favorite…post comments!!!
Filed under Brands and PR
PR Reflections....one at a time 