When it comes to advertising for subscribers, the cost-per-lead (CPL) is often one of the least valuable metrics.
What matters is the actual cost to get your targeted demographic subscribers actually confirmed and engaged.
So, think of your list building objective in terms of “Cost-Per-Fully-Registered-Subscriber” or double-opt-in (DOI).
Remember, leads that complain, leads that don’t confirm your welcome letter or leads that don’t engage highly enough are a problem, regardless of the price of those leads.
At Earnware, look at lead costs in 3 buckets.
Easy… $.50-$1.00 per lead (entertainment)
Moderate… $1.00-2.00 per lead (health information)
Competitive… $2.00-4.00 lead (financial information)
Again, the cost per lead is not the ultimate metric. The cost per confirmed subscriber (double-opt-in email clickers) is the main metric we look at.
What percentage should double-opt-in? The industry standard is around 20-25%.
Earnware copywriters have learned to get closer to 40-50% to confirm the initial welcome confirmation email. These are exceptionally high numbers, but now that you know it’s possible, you should accept nothing less.
So, if you spend $1.00 per lead and 50% double opt-in, your effective cost per fully registered (confirmed clicker) is $2.00.
As always, if you’d like to discuss this topic further, feel free to connect.
Thanks for reading…