Anyone who is remotely related to sales, understands, that without leads, there is no business. Without leads, no sales can happen, and without sales, there won’t be any business. Usually, there are two ways to get leads, you can buy them, or opt for long-term lead generation strategies. For an up & running business, lead generation strategies might be the perfect fit. But, most of the new & upcoming startups prefer buying leads online.
Well, buying leads is a simple & fast way to grow your business. But there are a lot of mistakes that business owners make while selecting the right platform to buy leads. Let’s have a look at some of these mistakes (and please, avoid them!)
COMMON MISTAKES
1. THINK, BEFORE YOU HIRE
Selecting a random lead generation company and getting qualified leads is a shot in the dark. Many lead generation platforms will offer huge discounts and cheap costs for a bulk of leads. But most of the times, majority of these leads will be outdated and provide zero contribution to your growth.
With every lead, you get information, including name, contact details, and their interests. When you purchase leads online, it is crucial to verify the credibility of the leads, and also ensure that the platform you select understands what your business needs.
2. CHEAP ISN’T THE BEST
When you buy leads online, the quality of leads is of paramount importance. Most of the times, you will get what you pay for. So, don’t settle for something that is cheap. And how do you figure out the right cost?
It’s simple. Compare the prices offered by multiple lead generation companies so that you have a basic idea of what can be the optimum price of quality leads. A quick Google search will explain you what is the Customer Acquisition Cost (CAC) for your target market. This information will help you gain an understanding of a good, quality lead.
3. BE “EXCLUSIVE”
Purchasing “non-exclusive” leads is a major mistake that most of the business owners make. Let’s make it simple: If a lead generation platform is offering leads at a low price, how are they monetizing their efforts? Well, they might be selling the same lead to 100 more buyers in your target market. Hence when you purchase the same lead, the chances to convert it fall to a fraction.
4. KNOW YOUR LIMITS
Purchasing leads in bulk might appear to be the ideal choice. You have to pay less and you have more chances to gain new clients. But you must know beforehand, how much your sales team can handle.
If the number of leads exceeds your sales team’s threshold, two problem statements arise.
- Leads get wasted because they are not reached out within a particular timeline.
- Follow ups don’t happen when there is an excessive no. of leads.
5. DON’T IGNORE YOUR WEBSITE
Buying leads online does not mean that you should neglect your website. More than 72% of B2B business owners start researching for products/services online, and chances are they might find your website if it is optimized properly. If your website meets their requirements, they will contact you and quite easily, you have a new lead! Most small business owners keep on ignoring their website and focus on buying leads online, only. Well, first impression is the last impression – keep your website up to the mark.
A closing note:
Most of the lead purchasing platforms don’t know your business. They don’t care about you, or your ROI. Neither will they make an attempt to understand that each market evolves with time. All that matters is the returns they generate from you. Research as much as possible before selecting the right lead generation platform. Try to gain as much control as possible, on the information of the leads. Some platforms might still try to pay you off with “junk leads” with inaccurate information. Beware of such pitfalls – leads cost a lot, and junk leads can hit your business below the belly.