Buying leads is a marketing tool used, particularly in Internet marketing, to generate consumer interest or inquiry into products or services of a business. Leads can be generated for a variety of purposes - list building, e-newsletter list acquisition or for winning customers. There are many tactical methods for generating leads. Businesses strive to generate 'quality' leads. Quality is usually determined by the propensity of the inquirer to take the next action towards a purchase.
For instance, industries like auto transport or health insurance a customer fills out a form to receive a quite. At that point the leads is either passed on to a sales representative or sold to a number of other companies to be worked on a competitive basis.
Yes there are different kinds of leads. There are exclusive leads and competitive leads, each has it’s own positives and negatives. The largest factor in closing percentage has some to do with the quality of lead and some to do with how and who is responding to the lead.
Competitive leads are ones that there are multiple people calling the customer back. In some industries the leads are sold to anywhere from 3-10 different companies (and maybe more). The less people calling the leads the more expensive the leads cost. Typically, competitive leads are purchased from a leads provider. In some industries companies spend thousands of dollars each month on competitive leads. This may be a great solution to a company that has great sales teams or a new company, but is not a perfect world for long-term success.
Exclusive leads are ones that you are the only one calling the potential customer. These leads are either purchased from a lead provider or come to you directly from your website or other sources. Exclusive leads are the way to go! If you can produce a system to bring in exclusive leads directly, it is defiantly worth the investment.
There are a number of factors that determine success on closing leads. The first and most important is how fast you contact the customer. If the lead is completive, waiting even a few minutes can be a killer! From there, you have to consider how you are responding. If you simply respond by email or instant quote, you are leaving the customer to make a decision based on price alone and that is never a good thing! We recommend calling all leads and speaking with them directly, especially these days “price does not equal value”.
The answer to that question is different for everyone. Can you afford it or can you afford NOT to? Buying leads is a great alternative for newer companies that do not have a solid client base. The mistake a lot of people make is spending money on leads and not investing in building more and better websites because when you stop paying for leads, they disappear, but when you invest in your own lead generating system, you are making a way to bring in customers that is “free” and not competitive!
This is a system that works for you, getting new leads and customers. Typically, this is a series of websites that are strategically placed all over the Internet and are working 24/7 for you. If this is something you are interested in, contact your Wet Representative!
This is an important question! The answer depends on budget and ability to stay organized. Some companies use Excel and that is enough, others use a software or some type of third party website. These tools can be expensive, but are a great way to stay organized because you can set reminders, filter results and apply tracking tools to enhance success and calculate ROI.