No industry is immune to external factors that affect the lead markets. For example, the recent pandemic has caused significant fluctuation in market conditions — some industries are seeing pent-up demand, and others are seeing a downturn.
But no matter the state of your specific industry, the best weapon for navigating uncertain times is to make sure that you’re equipped with the right tools to quickly identify and purchase the best leads possible for your organization.
Leads are your catalyst for driving sales and growth. Buying leads can augment your direct lead generation activities and bring exceptional value and ROI with the highest quality, pre-qualified leads. And the principles for buying leads remain intact no matter what the external factors are that might cause market shifts. But success requires planning, preparation and familiarity with industry practices.
To guide brands and marketers in any industry through the lead buying process, we’ve teamed with LeadsCouncil to put together the most complete report available. In it you’ll get the answer to everything you need to know during the lead purchasing process from identifying a partner to navigating compliance laws and managing leads to position yourself for success.
Fill out the form to download the entire report with everything you need to know, and check out our tips below to get started.
Evaluating and choosing partners for lead buying
The first step in buying leads is recognizing that they aren’t all created equally. And the best way to ensure you get the best leads for your organization is to find the best partner. Do your due diligence in your search and ensure it’s a reputable organization. Look deep and make sure that you have references, lead sources, portals and websites. Be sure that they’re in compliance with state and national regulations. A good track record and broad view of finances can also go a long way in instilling confidence that they will be able to deliver in the short and long term.
Above all, clear and open communication between the your organization and the lead aggregator is essential to the success and optimization of any campaign
Where to buy the right kind of leads
Like purchased leads, no two companies are created equally. So, defining the best kinds of leads for your organization can be a challenge.
As a lead buyer, an important step is to know the details of how your leads are generated and how it affects performance and pricing. Here are some common tactics to generate leads:
- Search engine traffic
- Display advertising
- Affiliate marketing
- Exclusivity, branding and lead forms
Each of these has its own benefits and can be filtered by geography or demographics to ensure that you’re getting the most relevant leads.
Validating, Verifying, Scoring Leads
Once you have leads, the next step is to maximize their value. Here is how a third-party provider can help unlock the full power of your purchased leads:
- Validate and verify incoming leads in real-time to identify bogus and poor quality leads that should be rejected up front
- Enrich your purchased leads by appending additional consumer data such as demographic, location, lifestyle, purchasing power, and other consumer attributes, enabling more effective segmentation and personalization
- Score your leads based on historical sales and conversion data so your sales team can better understand the quality of each purchased lead and to prioritize follow-up efforts, and to help you work more effectively with your lead aggregator
Third-party data providers that are experienced with handling leads make it easy, automated and cost-effective to gain greater insights into your marketing leads and optimize their effectiveness for your business.
Speed to Lead: Receiving, Prioritization and Management
Talk to any professional in the leads industry — from the buy or sell side — about factors that influence conversion, and you’ll almost certainly hear the phrase “speed to lead.” Speed to lead is the length of time required to attempt to contact a lead after it has been received. Speed to contact is how long it takes to reach them. All other things equal, the faster you can respond the more likely you are to reach an interested and receptive consumer, with the motivations for their inquiry fresh in their mind. Consequently, many businesses focus their lead follow-up operations on being able to respond to incoming leads almost immediately.
How you receive, prioritize and manage your leads is crucial in being the first to reach the best leads and drive results. You can download the complete buyer’s guide to find the eight things you need to look for in a lead management system and how to get the most out of it.
Legal and Regulatory Compliance Issues
The final and maybe most important aspect of your lead buying strategy? Compliance. Your campaigns must abide by state and federal laws and regulations in order to avoid fines, penalties and a damaged reputation. Here is a list of just some of the laws to follow:
Again, this is not a complete list and there are more laws to consider. We highly recommend that you also take a class in compliance to ensure that you are not leaving anything to chance.
The Complete Infutor and LeadsCouncil Lead Buying Guide
These steps are just the tip of the iceberg for a complete lead buying strategy. The Complete LeadsCouncil Lead Buyer’s Guide written in conjunction with Infutor has everything that you need to know including how and where to buy leads in order to create campaigns that are proven to drive sales growth.
Become a LeadsCouncil Member
LeadsCouncil members have a passion for the Lead Generation industry coupled with a deep desire to see it continually improve. LeadsCouncil standards empower you to ensure that your business and those you are purchasing leads from are operating within the highest moral and ethical values set by the council and its members. Join today