How do I create a budget for lead generation?
This is extremely dependent on the type of business you have and whether you are a startup or a mid-sized business. A standard marketing budget is between 7% and 10% of gross revenue for established businesses. This ranges goes up to 25% for companies with low overhead and aggressive growth strategies. The best way to approach the creation of a budget is to know your numbers: cost per lead by channel, cost per new customer, average lifetime value of a customer, and other KPIs your business has identified as indicators. With these numbers you can create estimates of how many leads you can generate within a given budget to meet growth goals or ask for more money.