With countless service providers vying for the attention of potential customers, it has become crucial for locksmith businesses to adopt strategic marketing approaches that yield tangible results.
At the heart of any successful marketing strategy lies the concept of lead generation.
Lead generation enables locksmith companies to connect with prospective customers, nurture relationships, and ultimately secure new clients. This process involves identifying and attracting individuals or organizations who have shown an interest in locksmith services, effectively transforming them into valuable leads.
But of course, for many small businesses, doing that work yourself can be overwhelming, to say the least. That’s where companies like Service Direct come in. By employing targeted tactics and leveraging 15 years of industry knowledge, we help locksmith companies grow their customer base.
In this blog, we will go over the first thing you probably want to know before deciding if lead generation is the right fit for your business: how much you’ll need to budget to be successful.
Before we get into how much locksmith leads cost at Service Direct, we must first discuss the 2most common types of exclusive leads: phone leads and form leads.
It’s important to understand the fundamental differences between form and phone leads, exploring how each avenue presents unique advantages and challenges in the quest to convert prospects into loyal customers.
Pay per call phone leads for locksmiths are a specific type of lead generation strategy where locksmith companies pay for incoming phone calls from potential customers seeking their services.
Unlike other lead generation methods that rely on forms or online submissions, phone leads provide an immediate and direct connection between the locksmith company and the customer.
This approach allows locksmiths to maximize conversion rates and benefit from a more personalized and efficient customer acquisition process.
Although phone leads tend to be pricier, when you pay only for the actual phone calls received, you can optimize your marketing budget and ensure a higher likelihood of converting leads into satisfied clients.
Form leads for locksmiths refer to potential customers who submit their contact information and service requests through online forms provided by locksmith companies.
These forms typically require individuals to input details such as their name, email address, phone number, and a brief description of their locksmith needs.
Form leads offer several benefits to locksmith companies, including the ability to collect and organize customer information for follow-up and nurturing.
By leveraging form leads, locksmiths can streamline their lead management process, tailor their responses to specific customer requirements, and establish a database of potential clients for future marketing initiatives.
Additionally, form leads provide locksmith companies with valuable insights into customer preferences, allowing them to optimize their services and improve customer satisfaction. However, it’s important to mention that form leads may have lower conversion rates as there is usually a lower sense of urgency.
The short answer is, you choose your cost per lead (CPL). Service Direct’s system allows our locksmith clients to set their CPL at a price they’re prepared to pay.
What’s important to remember is that the value of a lead is largely determined by your business’s ability to convert it into a paying job. Here’s an example: if you were to get 10 leads from us, but only manage to get 3 booked appointments out of them, you’d be getting less value than someone who could turn those same 10 leads into 7 paying jobs.
Since the actual value of our leads is based on your ability to convert, we also leave the cost you’ll pay per lead up to you. How much value do you think you can get out of an incoming lead?
You’ll also need to take into account your competitors’ abilities to convert leads. Even though you could set your CPL to the bare minimum, you’d lose every lead to a competitor who is better at turning them into paying gigs, and thus values them higher and sets a CPL to match.
Setting a competitive cost per lead (CPL) is essential for locksmith companies. It helps optimize your marketing budget, allocate resources effectively, and helps provide a favorable return on investment.
By being aware of industry standards when setting your CPL, you can stay competitive, attract potential customers, and ultimately get the most bang for your buck with lead generation.
Additionally, analyzing CPL metrics and the various factors that affect CPL enables you to continually improve your lead generation strategies. Plus, many companies (Service Direct included) will allow you to adjust your cost per lead as needed, so you shouldn’t be stuck in a bad position simply based on starting CPL.
There are various factors that will change what constitutes a “competitive” cost per lead. These factors include experience level, services offered, and location. Specifically, location is perhaps the most important factor to keep in mind when researching locksmith CPLs.
For example, in the first 3 months of the year, the average CPL for locksmith companies across the United States was around $17.00. But when you narrow it down further to a state such as North Carolina, the average CPL drops to just over $11.00. And when you go across the country and look at Colorado, the average is over $25.00.
Clearly, location can greatly affect the CPL that you’ll need to set in order to be competitive with locksmith lead generation. Understanding this fact is a crucial first step in determining if it’s a solid strategy for your locksmith company.
The best way to determine how much you’ll need to pay in order to have a competitive cost per lead in your area is to get in touch with one of our experienced account executives. They’ll walk you through what the average CPLs are in your state and city.
Then, you can combine that with the average lead volume in your area and you will be well on your way to knowing what to expect when buying locksmith leads from Service Direct.