Aged leads work better than real time leads. That’s the conclusion many sales professionals have come to after trying both real-time leads and aged leads.
While it’s natural to think that the best leads are those real time leads that are ready to buy, it’s not always the case. In many industries, a high number of leads don’t ever convert to sales. And what about the many leads that get put off by a dozen sales reps calling them as soon as they put in a quote request? Some are so turned off by the attention they don’t buy from anyone.
It’s a real shame — considering the high cost of real time leads — that they don’t perform any better than cold calling. When it comes to the high cost of real time leads versus lead performance and other related pitfalls, aged leads just work better. Here’s why.
Aged Leads Versus Real-Time leads
For aged leads and real time leads, the only big difference is age. While a real-time lead may be new, an aged lead is just as much a real prospect looking for product and service solutions, just as much an individual who responded to a sales message or quote form, just as likely as any other lead to at some point make a buying decision. The difference is that aged leads are just a bit older — typically 31 to 85 days old.
That’s an important difference, but as you know, a “no” is often just “not now.” Proper lead nurturing can often turn a cold lead into a loyal customer. The closer you look, the more the benefits of aged leads shine through.
Cost Versus Performance
The biggest and most obvious difference you’ll notice about aged leads and real time leads is cost. You might pay as much as $25 for a real time exclusive lead. Even for a real-time shared lead, you’re going to pay $7 to $10.
What’s the cost of an aged lead? As little at 20¢ each. Literally a fraction of the cost of that real time lead.
Now I know what you’re thinking: But Troy, don’t real time leads have better close rates?
On the surface, yes. But aged leads are a numbers game. The volume of aged leads you can buy for the price of far fewer real time leads not only outweighs that closing rate advantage; it blows it out of the water. Here’s an example.
Let’s say you have $5,000 to spend on lead generation. You could buy:
- 714 real-time shared leads at $7 each.
- 200 real time exclusive leads $25 each.
- 25,000 aged leads at 20¢ each.
For these leads, industry closing sales rates data says that:
- 1 out of 20 real-time shared leads results in a sale.
- 1 out of 7 real time exclusive leads results in a sale.
- 1 out of 60 aged leads results in a sale.
So with your $5,000, you could expect:
- 35 real-time shared leads that close.
- 28 real time exclusive leads that close.
- 416 aged leads that close.
The advantage of aged leads is clear, with a performance more than ten times better than that of real-time leads. When it comes to upfront cost versus performance, aged leads are just better.
The Pitfalls of Paying High Prices
We often think that higher prices mean higher quality. But this just isn’t true when it comes to real-time leads. The higher likelihood of closing a real time lead is outweighed by its high market rate price. Whereas the low cost of an aged lead allows you to buy enough volume to close ten times as many sales for the same upfront investment.
Better lead performance comes from making smarter lead purchases, not costlier ones. The smart decision for any sales professional that wants to increase their number of closed leads without upping their lead generation cost is buying and working aged leads.
Get better performance from your own lead generation efforts with a fresh batch of leads from The Aged Lead Store. You’ll find thousands of high-quality sortable aged leads that are ready to go, whether your business is auto, life, health, or home insurance, mortgage refinance, or solar installation.