What’s a good lead cost for your ad campaigns?

A question that rolls into The Hermit Hole pretty often is:

"Luke, what’s a good lead cost for my ad campaign?

It’s a good question.

But, unfortunately, it’s one that’s hard to give an exact answer to.
Here’s why…

Every market is different, every business model is different, and every offer is different, too.

A good example of that is my market, my business and my offers.

I help Coaches get clients.

This is a highly competitive market. Also, it’s not as big as other markets like "weight loss," or "relationships," or "puppy training," or "parenting" etc.

This means my click cost is typically a lot higher than those who advertise in those markets (around $5 vs $2-$3).

Second, the way I attract Coaches is with a simple a lead magnet.

I don’t use webinars or 5 day challenges or Facebook groups or any other complicated strategies like that.

I use a lead magnet because it’s simple and, also, because they tend to bring the cheapest subscribers.

Third, my business model is unlike most gurus and Coaches.

I use email follow up to get clients - and that’s it.

That means I can afford to spend a lot more than most who don’t use email follow up (because I’m getting all the clients who aren’t ready to buy right now but will be some day. This is a much bigger portion of the market).

And finally, fourth, I sell a high ticket program.

This means I can afford to spend more per lead than most who don’t sell high ticket.

So with all those variables, I could spend $30 or more per lead and still make a profit.

However, what I aim for is a lead cost of $10 or less.

But again…

This is for my market, my business model, and my offers.

That may be far too expensive for you depending on your business.

Now, I know getting an "it depends" answer is annoying.

So what I’ll do is a give a little bit more of an exact answer, however - this will only be relevant if you use a business model similar to The Aussie Hermit’s clients.

And that is, you want to:

A) Target a specific niche…

B) Advertise a lead magnet to build your list…

C) Use daily email as your way to convert your list into clients, and…

D) Sell a high ticket program.

If you fit all those 4 criteria then the general advice I can give you is this…

If you’re getting leads between $5-$10 then you’re doing well.

Meaning…

You should be able to make a great profit from your ad campaigns (typically 5 to 1 or more).

With that being said…

There is a more accurate way to get your KPI’s (Key Performance Indicators) so you know what numbers to optimise your ad account to for your own individual campaigns.

This is what I teach inside my 15 Minute Client program.

Along with that, I show you:

—> How to craft your lead magnet that attracts your dream client (and repels others)…

—> How to write your lead magnet ad using a framework that’s generated over 500,000 coaching leads…

—> How to set up your tracking so you can optimise your campaigns effectively…

—> How to launch your campaigns and test your lead magnet for just $100, and…

—> How to scale your campaigns once you’ve started making sales.

And the best part is…

I show you how you can get clients from your ads starting with a budget of only $30 per day.

To know when spots open next, put your name on the waitlist here:
https://The15MinuteClientWaitlist.com

-Luke Charlton
The Hermit Hole, Canberra