Today I want to dispel a few myths for you and in turn, enlighten you on the pros of purchasing and exchanging leads. It’s a well-known fact that many leads turn out to be ‘duds’ when you purchase a large list of leads for your company; similarly, you may be purchasing leads that are not really beneficial to your company or your business. I want to show you, with a few scenarios, why it makes sense to purchase quality leads, and how to do that!
Many people think that purchasing 20 cents worth of leads is equivalent to purchasing 50 cents worth. Oftentimes they believe it’s simply a name, an email address, and perhaps a phone number, but this is WRONG!
The average list provider has a 30% bounce back rate in their database. You might think this is a steal considering you only paid $0.20 per lead. When you have 30% bounce back you must also consider that your employee is spending 30% of their time with leads that no longer exist. In a generation where the entire world is trying to use technology to do certain jobs, and is intensely focused on cost-savings, one could not – and should not, have to sacrifice money, time, and employees to less-than-perfect leads. It’s important to note that in this scenario it isn’t only about the actual cost of the lead itself, but rather the cost overall of acquiring a list of ‘duds’.
What many people don’t know is that lead providers charging around $0.20 per lead is only cleaned and vetted semi-annually, annually, and sometimes even never! This means that your leads will have a much higher chance of being faulty, useless, or even non-existent. Studies show that 2% of people change jobs daily, so if the lists are only being cleaned every 6 months, a year, or not at all, the likelihood of having useful and successful lead data is much lower.
By using a provider that cleans the data on a consistent basis, you should always have a delivered rate (or success rate) of over 90%. In the business of lead generation it is difficult to hit 100% as people’s jobs and companies themselves are changing so rapidly. However, this just goes to show that spending a little more on your leads will provide you with valuable cost-savings for your company!
Cheaper leads may seem like the right choice in the moment, but another consideration is security. Leads that cost $0.20 per lead is often not verified for threats, duplicates, honeybot, etc. In addition, emailing non-existent leads will add a spam flag to your email account, which will actually decrease your chance of reaching out to a lead. So, be sure that you’re getting quality leads that are secure in an effort to avoid damaging your company’s reputation and your chance at a successful sale.
When looking at the price of leads one must take into consideration the cost of labour for the employee who is using the cleaned quality list for $0.50 or the inaccurate bounce back list at $0.20. The list costing you the lesser amount might seem like a great deal at the time, but is almost certain to cause headaches in the future. Oftentimes it’s important to invest a little bit more up-front in order to ensure that you receive secure, quality leads to help your company succeed in their sales goals.
Our next blog will show you a complete cost structure of the above, and build on the idea of cost-savings through lead acquisition for your business.