With online advertising becoming a staple in the marketing portfolio of most organizations, there are plenty of generic lead generation tactics available. Whether they come in forms as rudimentary as keyword buys, social posts, or geo-targeted display ads, these common approaches are often simply “check-the-box” solutions to generate click-throughs and form fills in an attempt to fill the top of the funnel.
Unfortunately, with the vast open Internet, the quality of the leads produced are too often as random and indiscriminate as the methods used to collect them. Most lead generation solutions are simple “collectors” of online traffic. Engagement is measured by curiosity and lead quality is often spotty, which wastes valuable marketing dollars and time.
What is starting to emerge out of these random tactics is a focus on High-Lifetime Value (HLV). A High-Lifetime Value customer is someone who has the potential to purchase more than once or engage in a longer-term relationship with an organization. The concept of HLV can be obvious in certain industries such as Auto or Entertainment and especially Business Services, but lead generation solutions needs to be able to incorporate a High-Lifetime Value Score that validates the leads you produce.
• In the Auto Industry, an HLV customer may be someone who has, or will, make multiple vehicle purchases and reliably uses your dealership for service.
• In Entertainment, an HLV customer may be someone who attends teams sporting events on occasion, but is also a good candidate for game packs or season tickets.
• The High-Lifetime Value customer profile for replacement windows, home improvement, or appliance replacement may be someone with a 15 year-old home, solid discretionary income, and live within an easy commute of the storefront.
• In business services, a High-Lifetime Value customer to a network service provider or a commercial real estate broker might be constantly hiring and show up on the Deloitte 500 Fastest Growing Companies List.
The game of lead generation is changing. Informed by better data and audience insights, such as the ability to link CRM, first party and third party offline attributes to online behaviors, drives the requirement for better quality lead generation in the marketing portfolio. A focus on the High-Lifetime Value customer is a necessity.
For an individual consultation on how Semcasting’s HLV campaign design will score your leads and be put to work for your individual organization contact us or email us at HLVLeads@semcasting.com.