Every business needs fresh leads constantly to survive and grow bigger. If you are going to buy customer leads as a way to feed your sales funnel with leads as fast as possible, this guide will be helpful.
Buying a list of potential clients and customers in your target niche is a common practice for higher revenue generation. However, finding a reliable lead provider to generate new customer leads is not that easy.
In this article, we’ll get to know what customer leads are and the criteria to pick the right data provider for your business.
What are customer leads?
Customer leads are the people that have an interest in the product and services offered by the business.
These contacts stand on the top of the sales funnel and contain company data that provide all relevant information about them. The leads are likely to turn into future customers if given enough time, guidance, and product and company information.
Why buy customer leads?
B2B businesses buy customer leads online for the following reasons:
- Costs less than generating them in house
- Fast and effective
- One can access a large database with millions of valid contact and data points
- High-quality leads entail better conversion
- Offers opportunity to enter markets
When to buy customer leads?
Customer leads are a game-changer and are constantly needed by businesses. So, you can buy them at any time you like. However, most businesses buy customer leads when the following situations arise.
- The pipeline is almost empty: Customer leads are the lifeblood of the sales process. An empty pipeline can cause severe sales consequences for a business. As such, one should not allow it to be empty. As a business, you should closely monitor the pipeline to maintain a steady flow, and purchase leads if there is an indication of running low.
- Needing quick business growth: As a business, you must prevent waning of the revenue levels. Some business circumstances might call for accelerating your sales fast. Buying customer leads helps to tide over such situations.
- Sensing a new campaign on the horizon: Maybe you are planning a launching a new product or exploring a new market. In such cases, one needs fresh customer leads to spruce up the marketing endeavor.
How to buy customer leads?
The quality of the customer lead data varies greatly between providers. So, as a business, one has to be sure that the purchased data will satisfy the needs.
Follow the below steps for purchasing customer leads from providers.
- Check compliance: Check if the customer data provided by the company is GDPR (General Data Protection Regulation) which covers privacy and security aspects. Although framed by the EU, it is the toughest law in the world. The situation is quite different in the United States. Different states have different laws; like CCPA (California Consumer Privacy Act) in California.
- Check reviews: Check reviews of the data provider on review sites like Capterra and G2. Also, check features like their data sources and integration of CRM (Customer Relationship Management). It will give you an idea of how the provider fairs.
- Compare prices: No steady price per lead in there. It varies on the sector, parameters, delivery, etc. Remember if the data is extraordinarily cheap that could be an indication of poor quality. And, the too-expensive data is likely to include features that you might not need. So, invest time to compare prices and strike a balance.
- Book a Demo: After you have shortlisted some customer lead providers, ask for demonstrations and free trials. It will save you from a large pool of troubles afterward.
Look out for red flags
When you buy customer leads, it’s essential to be aware of potential red flags. These flags may indicate that the leads are of low quality or obtained through unethical means. Here are a few things to watch out for:
- If the price seems too good to be true, it probably is. Low-priced leads are often low-quality, unverified, or even fake.
- If any provider asks for your credit card when you’re just in the trial period, you need to be very cautious.
- If there are no free trials, look for other services immediately.
- Customer support takes a very long time to answer your questions, or they are not even responsive.
- Be wary of lead providers who are not transparent about their methods of lead generation, data sources, or verification processes.
- If the leads have incomplete or outdated contact information, it may be difficult or impossible to reach them.
- A good lead provider should offer the ability to target leads based on specific demographics, interests, or behaviors. If there are no targeting options available, the leads may not be relevant to your business.
Things to consider
When you decide to buy customer leads, there are several things to keep in mind to ensure you get the best possible results. Here are a few key considerations:
- It’s essential to have a clear understanding of your target audience. You can identify the types of leads that are most likely to convert into customers.
- It’s better to have a smaller number of high-quality leads that are more likely to convert into customers, rather than a large number of low-quality leads
- Buying customer leads is easy, but it does not guarantee sales.
- Customer leads are the starting point of your journey. You have to process it and integrate it into the CRM, and organize web analytics to start prospecting customer leads.
- High-quality leads that are more likely to convert may be more expensive, but the return on investment can be well worth it.
When buying customer leads, it is crucial to ensure that the leads are high-quality, relevant to your business, and obtained through ethical means. You should also have a clear understanding of the costs involved and the potential return on investment.
Ultimately, the decision to buy customer leads will depend on the specific needs and goals of your business. While it can be a valuable tool for growth, it should be used in conjunction with other marketing strategies and approached with careful consideration.