Use ad metrics and insights to refine your marketing message and attract the right clients to your bookkeeping business.
What could you do with 130 bookkeeping work leads?
I’ve written in the past about the value of an online business and digital assets, how to deal with new inquiries from potential bookkeeping clients and whether to use Bark or Google Ads. By now you should be starting to get a feel for which types of ads generate the most profitable leads for your business.
You should also know what to talk about when you speak with a new bookkeeping lead, things like:
- Will your services solve a problem for your prospect?
- Are you qualified to perform the work?
- Do your rates match their expectations?
So now you’re ready to spend $750 per month on either Bark leads or Google Ads and you start receiving leads how will you know what a lead is worth and whether they are the right leads for your business.
Your digital marketing ad campaign might generate 130 leads but if they don’t match your ideal client requirements then it may be time to review your offer or try a different marketing channel.
Quantity vs. Quality
As you continue to run more ads and evaluate the responses, you will start to see which ads are attracting enquiries from prospects who match your ideal client profile. If they don’t, then the income earning potential of those leads is devalued.
You might discover that some of the bookkeeping leads you get are not even worth $1 because they don’t call you back!!
It’s a balance between quality and quantity. Your Google Ad needs to generate a sufficient volume of enquiries in order to make money, however if you generate 130 leads and none of them are suited to the type of bookkeeping services you offer, then it’s unlikely that you will have many regular long-term clients on your books.
What it all comes down to is how many clients you get, how many of them are your ideal clients and how much an ideal client is worth.
Jo-Anne spent over $6,000 on Bark when she started her bookkeeping business and she now has a great and consistent income, however she didn’t just use Bark alone.
Although Bark brought in enough clients to help get Jo-Anne’s business up and running, many of them were only looking for cheap, ad-hoc bookkeeping services to perform entry-level tasks.
Jo-Anne began running her own ads on Gumtree and Google. As a result, she was able to tap into the right market and attract clients who were better matched to her qualifications, experience and hourly rate.
Jo-Anne now runs her own business from Keysborough VIC, providing bookkeeping and BAS work to a range of clients – from sole traders to multi-million dollar companies.
Analytics and Measurement
Managing and improving the quality of leads in your sales pipeline is really about measurement. Measuring how many leads you get and the quality of each lead will help you save time and money in the long run.
Testing different types of ads and marketing channels will give you the insights you need to make adjustments and subsequently influence your ad results. For example, you may find that your Gumtree ads are generating more enquiries from small businesses who are unwilling to pay you more than $25 per hour.
By running your ad on Google or LinkedIn and targeting a more specific audience, you may pay more for your ad but attract a higher quality of prospect. i.e. medium sized businesses who can offer regular work to a junior bookkeeper or pay more for a registered BAS agent.
When you choose to use Google Ads it goes even deeper. Google collects data and reports on your ad performance including impressions (how many people saw it), clicks (how many people clicked on it) and the amount of money you spent.
From this data you can work out:
- Cost per click
- How many clicks you need to get one lead
You will also be able to record:
- Whether you can make contact with that lead
- How much work that lead wants done
You’ll then compile this information in a spreadsheet so that you can:
- Record and compare different advertising campaigns and measure their effectiveness.
- Review your leads and rate them against your definition of an ideal client (on a scale from low to ideal client.)
Improving Your Conversion Rate
As you continue to refine your ads and test different marketing channels your message will start to speak more directly to your ideal client. Targeting your marketing messages to your ideal client helps you create the best digital marketing content and advertising campaigns. It enables you to:
- use the right words,
- create the right products and services, and
- use the right images to appeal to your ideal client.
As a result, you may get fewer leads, but they will be of a much higher quality and more likely to generate a stable, long-term income for your bookkeeping business. When you have all of this, it’s easy to see that digital marketing is really all about conversion rate optimisation.
Who Is Your Customer?
Defining your ideal client helps you create the best digital marketing content and advertising campaigns.
$750 per month Google Ads vs $750 per month Bark
Is Bark worth the money, time and effort when you can advertise directly with Google Ads? Which option generates the most qualified and cost effective leads for your Virtual Assistant business?