Analyse opportunity cost, advises lead generation specialist

Companies should look at opportunity cost when deciding how to spend their lead generation budget.

This is the view of industry expert Aaron Dun, who said at an event organised by Marketing Sherpa that this enables firms to take into account both the money they are investing in lead generation and the value of what they are not doing.

He told attendees at the Business-to-Business Marketing Summit that they should try and ensure all lead generation activity they undertake can be reused, citing the example of turning the content of a white paper into a podcast that can be posted online.

Mr Dun also urged businesses to be more savvy when drawing up package deals, advising them to sign up for short-term agreements that can then be extended if the results are favourable.

"This is a very real problem, particularly when you have a limited amount of money to spend," he was quoted as saying.

Another lead generation specialist, Brian Carroll, also suggested that using telemarketing calls for re-engagement provides the optimum return on investment for purchases that are over $25,000 (£15,708), while other options should be considered for less expensive products or services.

Mr Carroll added that approximately 80 per cent of all leads generated are not used to their full extent by marketers.