The annual decrease in the average cost per lead.
Increase in television leads in 2015 over 2014 due to data based lead-response measurement.
Average cost per lead when compared with television lead-response.
Search engines consistently put Edwards & Kautz on page one in key online searches, unpaid and organic.
Challenge: Cut the television advertising budget by 20%, while still generating the same volume of client lead response. Then redeploy the dollars back into digital/online media for wider reach, and more leads production.
The television advertising data analysis for Edwards & Kautz indicated that 20% of the budget was underperforming. The budget needed to be cut and the money redeployed for a lower overall Cost per Lead (CPL).
This case is for a law firm client that held a database history for advertising and prospect lead generation from television as tracked through the agency software.
The challenge was to cut budget for television in the times and programs that weren’t generating the most leads for the least dollars. The law firm needed a more balanced, multi-media approach of television plus digital advertising media. Funding for the advertising strategy shift was to come through cuts in the underperforming media.
The process was “challenging” because close scrutiny of the television productivity data showed no bad buys – only programs and times that were better buys. Kirkpatrick Creative demands that every media buy be optimized against the data for maximum lead production from every advertising dollar invested.
The comparative study was complied over 24 months. Consistent monthly advertising was placed and compared over two comparative years.
Data analytics indicated that approximately 20% of the television advertising budget should be cut – with the dollars to shift into digital/online advertising. Data showed that the television media dollars were productive but could still be more efficient producers in tandem with digital advertising.
Data tracking made the cuts for television media clear:
- Under performing stations and programs – those producing marginal prospect leads – were eliminated.
- Higher performing programming – those producing high volume prospect leads were purchased with even grater frequency.
- At the end of year two, the effect of the television leads generated was dramatic. With a 20% cut in the television budget, the law firm prospect leads actually increased by almost 39%. The resultant decrease in the average cost per lead of 41% was equally dramatic.
- Over 1100 new prospect leads were recorded from this foray into digital advertising. The average cost per lead generated was slightly over $62 as measured by telephone calls and form responses.
- The Law Firm jumped to priority, “page one” preference with the search engines for organic rankings.
Combined Multi-Media Deployment:
- A 204% increase in prospect leads for the law firm on an advertising budget increase of only 20%.
- Total cost per prospect lead (CPL) decreased by over 43%.