B2B leads overview
B2B leads are usually the people who are mainly responsible for completing a purchase of your products or services for their businesses.
B2B leads often hold executive positions, therefore, businesses that run lead generation campaigns should focus on these people only to achieve maximum performance.
B2B leads are not only the ones who will buy your products or services but also who want to partner with businesses on particular projects. Therefore, B2B leads may be defined differently depending on your lead generation’s goal. However, these are people who will represent their companies to buy your products or work with you.
B2B pay per lead overview
B2B pay per lead can be understood as the amount of money your business has to pay to acquire a B2B lead.
The cost per a B2B lead acquisition may vary greatly depending on which channel you take on, your niche and how effective your campaigns are to generate leads.
While we don’t have accurate data for the average cost per lead for all industries, we can tell you the estimated cost per lead based on our own experience with different popular platforms such as Facebook or Linkedin.
Basically, we’re going to multiply the average cost per click 10 times to get an estimated cost per lead. In reality, the cost per lead can be more than that, so your business may be the one to find out that cost record.
However, let’s assume that you know how to set up and run lead generation ads properly.
1. Facebook ads cost per lead
The average cost per click for Facebook Ads in our campaigns is $1.4, therefore, the cost per lead should be around $14.
Facebook Lead Generation Ads is specifically designed for lead generation. Some businesses find it effective, and some don’t. However, one thing we know for sure is that it doesn’t come cheap for many small to medium-sized businesses.
Facebook Lead Gen Ads deliver a form to people who are most likely to be interested in your offer via their news feed. If the users find your offers interesting, they will leave their contact information in the form so that you can reach out to them later.
2.Linkedin ads cost per lead
From our own experience advertising to the US audience, the average cost per click is $1.2, therefore, the cost per lead should be around $12.
Similarly to Facebook Lead Gen Ads, Linkedin also provides a type of advertising that is specifically designed for lead generation called Linkedin Lead Generation Forms
The way it works is similar to Facebook Lead Gen Ads, however, Linkedin offers better targeting options that let you target people with their job titles, expertise, years of experience, etc.
These ads are going to cost more or less depending on a variety of factors including how well you set up and optimize your ads for better targeting. Ads can be expensive but they generate leads fast.
3. Google ads cost per lead
Google ads may not be a great option for your business to generate leads effectively. In order for Google ads to generate leads, you must specifically design a landing page for your visitors to convert into leads.
From our own experience, Google ads cost per click for our US audience is from $3-$7, making the cost per lead up to $30-$70.
However, Google ads by far is the most effective ads in general. Most businesses around the world rely on Google ads to generate sales. The reason why they are effective is that people coming from their searches on Google already have the need to buy or get something.
The other reason may be attributed to their advanced ads distribution system and machine learning.
Reading up until this point, you may realize that you would need to run Google ads to generate sales straight away, instead of leads. However, do prepare a good budget for it.
4. Twitter ads cost per lead
The average cost per click is the lowest for us when running Twitter ads. From our own experience targeting the US audience, our average cost per click is only $0.5, making the estimated cost per lead around $5.
Twitter doesn’t offer any specific lead gen type of ads, the only thing you can do is to run ads that direct people to your website when they click on the ads.
Therefore, you will need to create a landing page for your Twitter ads in order for them to perform. The other thing to keep in mind is that Twitter has been reported recently to have a considerable number of bots.
We recommend trying Twitter ads but do so slowly to avoid risks. And the most important thing isn’t your cost per click but it’s the cost per acquisition, make sure you optimize your ads for it.
5. Quora & Reddit ads cost per lead
From our experience, Quora is a little more expensive at $0.6 per click, while Reddit ads’ cost per click is only $0.55.
Therefore, the cost per lead for these two platforms stands at $6 and $5.5 respectively.
Quora and Reddit don’t have lead gen type of ads either thus there’s a need to create for them a landing page that helps convert the visitors into leads.
Also, Quora & Reddit don’t have many targeting options like the other mentioned above platforms do, so if you need to target a small and very specific audience, you may need to think twice.
However, their ads are generally affordable so you can always try and see what they can do for your business.
What are the benefits of running ads for lead gen?
Even though ads can be very expensive, most businesses can’t deny the fact that they can drive traffic, leads and sales quickly. Below are the benefits of running ads for lead gen that you should know about:
- Brand Awareness: Running ads can help increase awareness of your brand among your target markets.
- Increased Sales and Profits: By generating more leads through ads, you can increase the chances of converting those leads into customers, resulting in increased sales and profits.
- Positive ROI: If done correctly, the cost of running ads can be outweighed by the revenue generated from new customers, resulting in a positive return on investment.
- Targeted Advertising: Ad platforms offer targeting options that allow you to reach your desired customers.
- Prospect Information: When someone interacts with your ad, you can collect important information about them to help tailor your marketing efforts.
- Mutual Benefit: Lead generation through ads benefits both the buyer and the seller by connecting potential customers with products or services they may be interested in.
- Streamlined Signup Process: Some ad platforms allow users to submit their information directly within the ad, making the signup process quicker and easier.
- High-Quality Leads: Targeted ads with a clear value proposition can attract high-quality leads who are more likely to convert into customers.
Which ad platform is the best?
There are several digital advertising platforms to choose from, and the best one for your business will depend on your specific needs and goals. Some popular options include Meta Ads and Google Ads. Meta Ads allow you to target specific audiences, while Google Ads focuses on keywords and search terms.
To select the right ad platform for your business, consider factors such as your target audience, budget, and advertising goals. Researching the different targeting options and ad formats offered by each platform can also help you determine which one is the best fit for your business.
Keep in mind that what may be the best ad platform for one business may not be the best for another. It’s important to evaluate your business’ needs and goals before choosing an ad platform.
B2B pay per lead vs other lead gen strategies
Aside from advertising, there are a few other ways to generate leads effectively, however, their performance isn’t really evaluated based on pay per lead.
You can try these lead gen strategies below for your business and see how they can help:
- Build a scraper to collect prospects from web pages then use an email marketing software to reach out to them.
- Use a combination of digital marketing software to generate prospect lists and reach out to them.
These methods of lead gen can be affordable, however, they are quite technical for beginners. If you’re not into tech or software, we do not recommend trying these two strategies.
The best way for those who are mostly concerned about B2B pay per lead
For businesses who care much about the cost per lead, it’s time to try a reliable B2B leads database.
A reliable B2B leads provider offers excellent data quality, customer support and gives users the ability to highly target the people they want.
However, there are not many good lead databases on the Internet, therefore, you will need a real strategy to pick one to minimize your risk.
If a B2B leads database offers the following, you can give it a try:
- Free trials
- No credit card is required
- Excellent support
- Refund policies
- Generous discounts for first-time clients.
At Limeleads – a leading B2B leads database, we provide all the above-mentioned and more. We make sure to ride with our clients to help them achieve the best lead generation performance.
If you need anything else, do not hesitate to contact us at [email protected] or via our live chat support, we’ve got you covered!