Buy Leads Intelligently
Lead buying can be tricky business, especially for someone who is newer to the industry, and buying leads is not always the answer. Leads can be generated instead - if you have the time and effort to put in. We have a guide here on how to start a lead company, including how to generate leads here. But, buying leads can be a successful strategy if done right; there are many lead sellers out there looking for buyers.
Make Sure You Are Buying Quality Leads
Buying leads is similar to getting a tattoo in the sense that you get what you pay for; we have all seen the cringe-worthy side of that spectrum and leads are no different. If you think you are going to buy many leads for cheap and expect them all to be high quality, you are out of your mind. Now, I am not saying that you have to go out and drop thousands of dollars on a list, but just keep in mind that the cheap way is not always the most effective way.
The more you buy leads from the same sources, the more you will figure out their patters. Some sellers have better quality leads for certain demographics or verticals, but not so much in others. Keep track of which sellers you get better leads from and stick to those ones.
Buy Leads From Reputable Sellers
Buying leads can be a shady business, and you want to make sure that even if you are buy junk leads, they are legitimate and not just emails and phone numbers thrown together. There are a few easy ways to determine the legitimacy of a site, one of which being checking the url; if a site has https instead of http, it is more secure.
Another way is checking how they handle support. Live chat or phone call support is usually a good indicator that they like talking to people. Just an email, or no support at all, is generally a bad indicator that they do not want to talk to people having issues. If you really are not sure, you can always check the Better Business Bureau to see if they are a part of it.
Measure Success
Narrow down your leads based on demographics that work best for you: location, age, etc. Lists that are smaller and more targeted reap better metrics than bigger less targeted lists. Generally, using the lead's buying habits and personal preference are stronger than demographics when it comes to lead quality.
Decide how many leads you are able to buy with your budget, and create goals based on them. Do not bite off more than you can chew by buying more leads than your sales team can handle. If you are truly newer to buying leads, consider buying smaller lists at first to see how well they do and what your business can handle.
Exclusive vs Non Exclusive (Shared) Leads
One thing that should be figured out before any leads are even bought is if you are going to buy leads exclusively or non-exclusively. There are pros and cons to both of these, but exclusive leads are generally going to be the better quality ones. The difference between the two is that exclusive leads are only sold to one buyer, while non-exclusive are sold to multiple buyers. Smaller businesses should generally buy leads more exclusively because both trust with the seller and quality of the leads go up. Even though exclusive leads look like the better option, non-exclusive leads can come in handy because they are cheaper and can be bought in bulk easier.
Use Lead Buyer Software
Using a software for buying your leads can take quite a bit of stress off by using automation. Lead buyers can grow by leaps and bounds using the boberdoo buyer system for their lead buying. The buyer system is the SaaS solution for the lead buying industry.
- A/B test your bids
- Buy leads based on custom business rules
- Track seller activity and adjust bids based on performance
- Pay less for leads that are lower quality
- Automate your lead buying
- Scalable solution for multiple verticals