Generating Leads For Moving Companies (12)
Hey Peeps,
So I'm totally new to the forum, purchased my membership only a few hours ago and I've been reading everything that I can. I just want to preface with, "I pre-apologize if I break any rules, please correct me with patience and understanding. :)"
Short Description
I'm working on generating leads for moving companies. My funnel is as follows: Users are looking to move to American, and they find my webpage that provides as much information as possible about moving to America. They have an opportunity to sort, search, filter and compare a giant list of moving companies. They can get quotes from a hand full of moving companies to start their journey.
I then will sell those leads to each of the moving companies that have signed up to buy the leads. This is actually a very competitive industry, there are a ton of websites like mine, not including all of the Expat blogs out there selling leads to moving companies. But I have a vested interest in this particular industry and I'm already generating a few thousand dollars a month, but this will die off if I'm not able to start generating leads.
Traffic source: Google Adwords PPC
Vertical: Moving Companies
Offer(s): Get 5 Moving Quotes, Compare Moving Companies
Geos: Tier One (USA,CA,UK,AUS)
Budget: $25/day per campaign
Bid: $1.53 for most ad groups. $2.53 for USA focused ad group
Angles: I will be testing out several angles - Getting the information that you need, comparing moving companies, and more..
Campaign structure: I have four campaigns, one for each country that I'm focusing on. I have excluded the traffic from the country that I'm focusing on. To explain, I have a campaign focused on Move to America, but I have excluded the USA from seeing my ads. I then have another campaign that includes all Tier One and Tier Two countries. This campaign is focusing on keywords like [moving quotes].
I have excluded mobile, search partners and display network from all of my campaigns. I only have exact match keywords and I've disabled all keywords that are 5 quality scored and less. I've setup one landing page for every ad group that I have created. I now have about thirty six ad groups created. Each with a bunch of highly focused ads and keywords. I'm also using all of the ad extensions that I'm allowed.
I also went through all of my competitors ads and copied them into my campaigns with slight adjustments for quality score.
Banners: I'm not using banners right now I'm only using text ads, no remarketing or anything else.
Lead Funnel:
1. Users find my guide/tips/resources for moving to a specific country. I'm calling users to action by allowing them to find and compare moving companies.
2. I used to take users to my Moving Company Comparison Page, but I removed this step because I was losing users on this page.
Landing pages:
3. Users end up on my request a quote page. On this page I list the companies that provide services to and from the users requested countries. I also list some testimonials and such. If you want to see this page, just submit the form on either of the last pages.
First Major Update:
Spend for the Month: $500
Revenue: $0
Net profit/loss: ($500)
Actions I took: I was originally focusing on the cheap traffic, generating more than six thousand clicks and just over three thousand unique users to my website pages. I marketed nearly every page on every network. I made all of the adwords enhancements over this first month that I mentioned were in place above.
Current tasks: I've renewed my budget for this next month, another $500. I'm really really hoping that I can start converting a few leads a day. I started to get some quality traffic right at the end of last month.
1. "Give Away" a moving guide download with every quote request.
2. "Popups" Popup some time of catch for users that are looking to navigate away from the page by moving their mouse out of the viewport.
3. Continue bettering my quality scores.
QUESTIONS that I have
How high should I raise my bids before I start seeing quality enough traffic to convert. My conversions right now are like 1%... I need it to be more like ten percent.
That seems like quite a low daily budget.
That said, if I spent $500 and got no conversions, I probably would not want to spend much either.
What is your revenue per lead?
Revenue is in the thousands per lead, but the current lead source is selling leads for ten dollars per lead.
Google just forced me to increase my daily budget to $75 in order to begin displaying my ads... So I think that this budget will last for about a week...
Originally Posted by walker
Cmdeal, the revenue that is made from each lead is very healthy for the company that I'm selling the leads to. But this company is also buying leads from other lead generators for just ten dollars per lead. So even though it could make sense to increase my CPA to one hundred dollars, the company that is buying them would not pay that much.
Vision, I'm talking about dialog box popups when your mouse leaves the screen. It's not an actual browser popup.
So your revenue per lead is $10, but you are bidding ~$2.50 a click???
That is nuts. This is suicide. You would be better off just writing a check to Google.
For your own sake please STOP.
Don't spend any more money until you have fully understood how the math works in conversion economics.
Currently, there is absolutely no realistic scenario where you can make money.
Caurmen wrote a great guide here. I would strongly suggest that you study this until you have fully internalised everything here:
http://stmforum.com/forum/showthread...ill-Make-Money
Vision, I'm talking about dialog box popups when your mouse leaves the screen. It's not an actual browser popup.
Cmdeal, the revenue that is made from each lead is very healthy for the company that I'm selling the leads to. But this company is also buying leads from other lead generators for just ten dollars per lead. So even though it could make sense to increase my CPA to one hundred dollars, the company that is buying them would not pay that much.
I read through that guide which you provided. I understand what it says. What I need to do is find where the traffic is and start converting on that traffic. Once I've found the traffic I can then start tightening it up and optimizing my campaigns for the most number of clicks.
I tried spending less, and was able to generate three thousand visitors at five cents per click. None of that traffic converted for me tho.
I'm not too worried about the dollar amount that I'm selling the leads for right now. This is not only a learning curve for me, but I have a monthly agreement and they will buy any number of leads that I generate for the same one time monthly payment. But if I can't figure out something soon, then they will deem it a failure and just go back to buying leads from the other guys.
So what do I need to do in order to lower my CPC?
Phrase Match or Broad Match and monitor for negative keywords daily?
You have many problems you need to solve. Lowering your CPCs is one of them, but if you can't get any conversions from your landing pages, then no matter how low your CPCs are, you will be losing 100% of everything you spend. Once you have figured out how to increase you LP to Lead CVR, then you need to work on your RPL which is way too low.
update.
im finally starting to generate leads. its costing me 1.90 per click, i spend around 75 dollars a day and generate one to three leads per day. My CPA is about thirty five to forty dollars per lead.
i can make money by selling these leads to multiple moving companies. i have started building a list of these companies on my website. i need your opinions on my next action steps.
i need to get multiple moving companies from each city, signed up so that i can sell my leads to them. i may not have many leads for them in the beginning. how do i go about this? should i give free leads away in the beginning, do i charge a little or a lot? do i question the leads first and sell them as direct referrals? im all over the place and need a plan of attack.
Depends on how they convert for your clients. If they convert well, you can charge more. If they convert like crap, you can't give them away, since the time and cost required for your client to work the lead will not make paying for such leads worth their time.
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