Internet leads can be a valuable marketing tool for your company. Internet leads are potential customers who have come across a website with information relating to the product or service you are providing and completed a contact form requesting further information. The most common way to find leads on the Internet is called lead buying, or paying a company to provide fresh leads from its Internet site.
Not all lead providers, however, are created equal. If you decide to buy Internet leads, there are some tips you need to be aware of to make sure you get the biggest bang for your buck.
First, be aware of the average cost of leads. Depending on what your company is selling, you can expect to pay anywhere from $5 to $25 for a fresh lead. A fresh lead is a lead that is only a few hours old. As time passes and the lead goes “stale,” the cost per lead drop to as low as a dollar. Unfortunately, conversion rates on older leads drop as well.
Second, look for lead providers who do not require a long-term contract or the purchase of a minimum number of leads. When you start lead buying, it may be smart to purchase only a handful of leads and see whether or not they convert to sales before you spend a large amount of money to purchase hundreds of leads.
Third, before you hire a lead provider, find out what that company’s policy is on bad leads. Bad leads are leads with incorrect contact information or with no interest in speaking to your sales team about the service or product you are selling. If you come across a bad lead, will the lead provider refund your money for that lead?
Fourth, try to arrange to purchase exclusive leads, or at least leads that are sold to a very small number of competitors. If hundreds of companies get the exact same lead, it will make it more difficult for your sales team to contact that person and convert him or her from a lead to a customer.
Finally, ask the company you are considering working with how they deliver the leads. Ideally, the company will provide real-time leads, notifying you every time someone completes the online form asking for additional information. Some companies, however, do a data transfer of leads once or twice a day. These companies may charge less per lead, but remember that the longer it takes a sales representative to contact a lead once he or she has expressed interest, the lower your conversion rate will be.
Lead buying is a great way to find potential customers for your sales force to contact, but there are a few common sense tips you should know before selecting an Internet lead provider.