Any business, unless they are a token business, has a desire to grow. There may be different definitions of “grow,” whether it is increasing the profit or increasing the exposure, but the growth of a business certainly assists the process when attempting to strategize for business success.
There are several different ways to that businesses choose to obtain that growth.
Two of these options include growing the business organically growing it through acquisition.
If an individual or a small company desires to grow their business, the acquisition of another business may not be a viable option. It is a quick solution, but in many cases, it requires a substantial amount of money, and it also involves complexities that may or may not contribute to the success of the acquisition process. The company that is acquiring another company always needs to prepare for the various outcomes that may present themselves and be prepared for the mitigation steps that are required to balance that acquisition, economically-speaking.
Because of those complexities, the business may feel that their best option is the seemingly slow and daunting task of growing their business organically.
One way that some companies have used, to expedite the growth of their business organically, is by utilizing leads. Thanks to the ocean-like depth of the Internet, virtually every business imaginable can purchase leads online. In spite of the general perception, finding and buying leads for a company or an individual is often the easier method of running a successful lead campaign when compared to gathering them one-by-one.
Lead purchases and lead generation are not necessarily as easy as the phrases sound.
Purchasing Leads on the Internet
Finding a company that sells leads relating to a business may seem as easy as a Google search. For example, a real estate agent may search, “home buying leads Los Angeles.” In an area with 3.8 million people, like Los Angeles, they are certain to get a plethora of options for lead specialists in Los Angeles.
In that case, a business may want to contact a few of the companies that appear in the SERPs (Search Engine Results Page) and appear to be a good match. Indeed, success also depends on the business not being afraid to ask questions of the “lead specialists.” The key is not how easy it is to find the companies, but how credible the companies are. That is why asking the questions of these lead specialists is so important.
Some questions to consider asking the lead specialist would include the following:
- Are the leads qualified? If so, how are they qualified?
- How are the leads generated?
- What is the average conversion rate?
- Is there a return policy for bogus leads?
- What are the best practices of the companies that have success with the leads?
- Are the leads sold to more than one company or are they exclusive?
The idea is that the business wants quality leads. Otherwise, there is no point in purchasing leads. Another important factor is that the business wants to contact leads (potential clients) who actually want to be contacted. People do not like spam or unwanted marketing calls. Those types of people are quick to let people know that they don’t want to be contacted. Lead specialists who ignore those removal requests are not the type of company that a business should want to do business with because the lead purchase will only put them in a bad light with the leads. So, it is very important that questions are asked and there is an assurance that the lead specialist company is an ethical company that only provides leads that area qualified and want to receive information.
Exclusive leads that are sold only once are typically more expensive. This “only once” aspect is what makes them so valuable. If the lead is sold 20 times, that means that the individual is receiving 20 emails or 20 phone calls and even if they were receptive to marketing information at one point, they may become annoyed after that many sales calls or emails. Also, they may become “deaf” to the marketing message of the business because they have already received 19 other marketing messages. This is why the “only once” leads are so valuable.
That said, it doesn’t mean that the “only once” lead is really worth the additional cost, as far as qualification and likelihood for ROI (return on investment).
Some business verticals can also do well with “aged leads” that are typically older than the most coveted leads but are usually significantly less expensive. Sometimes quantity can be more valuable than quality. This generally goes against the grain of common thinking, but if it this case, it can work to the advantage of the business that is buying the leads.
Think outside the box.
Consider all of the ancillary businesses that may be relative to a particular niche. For example, imagine all of the lead types that could be created from topics/situations like a divorce attorney, moving, financing, insurance, buying/selling a home, and employment, just to name a few. Also, think of these examples as top line categories, each with a downline of possible sub-categories that could actually be more applicable to the situation.
By thinking outside the box, it is easier to see where leads related to one particular topic may relate to another topic. A good example of this is BuyMovingLeads. These moving leads could be helpful to businesses that relate to apartment rentals; leasing; maid services; utility companies; gardening; and much more.
Self-Generating Leads on the Internet
Another approach to acquiring leads is self-generation. Instead of buying leads, or in addition to buying leads, this option could be considered.
The Internet can be a game-changing avenue for lead aggregation. He or she will usually want to drive Internet traffic from their target audience to a landing page, also called a squeeze page. By giving away something, called a “lead magnet,” there is the opportunity to build leads. This lead magnet does not have to be something expensive. It can be as simple as a PDF document. It does have to genuinely provide value. This will allow the engagement process to begin with the potential customer; building a trusting relationship, and eventually converting them into a buyer.
How it works is that a request is made for the visitor’s email address in exchange for the access to the lead magnet (i.e. downloading the lead magnet). In this way, the email subscriber list is built, and the business is acquiring leads.
It is not as difficult as it may sound as long as the subscribers’ information is respected by only providing them with actual value, all while offering those services that are relative to their wants and needs. Also, there should always be an option for the subscribers to remove themselves from the list.
Success will generally go to the businesses that buy leads from outside sources and generate them in-house as well. Successful companies are certain to run tests and focus on conversion rate analysis. An important note to remember is that if it’s not tracked then it can’t be managed. It is vital to know the customer acquisition cost from every lead source, and this is the key information that will allow a business to scale with leads, and ultimately move toward that desired growth and success.