July 22, 2014 | By RGR Marketing Blog

What to Avoid When Purchasing Leads Online

Purchasing leads online can be a very effective means of keeping your sales pipeline full of promising prospects. But unless those leads are handled in the correct manner, their return on investment can be dramatically diminished. And, if they’re purchased from the wrong source, they may not be any good to begin with.

Here are some of the more common mistakes to avoid when purchasing leads online.

Mistake #1: Dealing With the Wrong Lead Provider

Not all leads are created equal, and that can have something to do with the source. If your business purchases leads from disreputable lead generation companies, you may learn that the hard way. Reputable lead providers are easy to contact, and have track records to back up their claims. Research lead providers before purchasing your leads by reading reviews, checking potential lead generation partners’ status with the Better Business Bureau, and inquiring with others in your industry.

Mistake #2: Putting Too Many Eggs in One Basket

Exclusive leads generally offer a great ROI, but they’re more costly than other types of leads. Non-exclusive leads are budget-friendly, but they’re extremely time-sensitive. Aged leads are inexpensive and worth pursuing, but they don’t offer as high a conversion rate as fresh ones. Smart companies purchase a variety of types of leads to keep the profits rolling in, and the roster of prospects full.

Mistake #3: Sitting on Your Leads

When it comes to closing deals with the fresh new leads you’ve purchased online, time is of the essence. Your competitors certainly aren’t going to wait for your sales team to get around to contacting those prospects, and nor should you. Make sure you or your team pursues new leads as soon as they arrive, or someone else will beat you to the punch.

Mistake #4: Throwing in the Towel With Purchased Leads

Some marketers give up on their leads far too easily. They might call two or three times, and then forget about the lead entirely. This is a big mistake. Some leads take six or more attempts to even make contact, and others only turn into deals after a year or more. Never give up on a lead unless the prospect indicates in no uncertain terms that they are absolutely not interested. Repeatedly following up with your leads is absolutely crucial if you want to make them pay off.

Mistake #5: Not Tracking Your Lead Performance

If you want to know whether your marketing strategy is paying off, then you need to track the performance of your lead sources. If one type of lead works particularly well for your business, and another delivers a poor ROI, it may be time to double down on what’s working.

Similarly, if your business is purchasing leads from multiple sources, you should compare the quality of the leads you’re getting from each. Does Company A provide better leads with higher closure rates than Company Z? How do the costs compare? By keeping tabs on which of your lead providers are living up to their promises, and which are simply not delivering, you can optimize your marketing budget to drive profits up, and keep costs down.

[Photo Credit: Flickr Creative Commons]

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