subject: Lead Buying: The Pros and Cons [print this page] Lead Buying: The Pros and Cons Lead Buying: The Pros and Cons
If you have an in-house team of telemarketers and your lead generation campaign just hit a brick wall, you can always opt to buy leads from credible lead providers. But before jumping into any conclusions as to where, when, and how you are going to purchase leads lists for your campaign, try to stop for a moment and think about the pros and cons of buying leads.
Pros
If you want to buy leads then there is no shortage of lead providers available on the market. Try to search for the words "lead provider" on Google and you can see that there are over nine million results. But, that does not mean you have to check out each and every one of them. Just go to some of the websites on the first few pages and you are likely to find what you are looking for.
Lead providers can cater to almost all business sectors. If your business provides IT services to other companies then that's not a problem because they have just the right kind of leads for you; or if you have a company that provides medical products and services to those that need them then they have leads for that type of industry, too.
There are a lot of benefits that you can get from buying leads. One of which is you can get leads lists on demand; meaning you can get them any time you want. In addition, buying a ready list of leads is relatively more cost effective than that of having telemarketers carry out more and longer lead generation campaigns. This is because the list is already there for you. You won't have to spend more dollars on hiring the services of a telemarketing firm nor look for other lead source.
However, the price of each lead list would vary depending on the quality of the list, the number of leads, and the industry you belong in. One thing is certain; buying leads can simplify your entire lead generation activity.
Cons
On the other hand, buying leads comes with a few drawbacks. This is because there always has to be a balance with whatever we are doing. If buying lists of leads is that perfect, then everyone would do the same thing. To put things in perspective, lead buying is not a perfect business strategy. It has its upside and downside. We have mentioned previously the benefits of buying targeted leads. Now, let's evaluate the cons.
The first to consider when you choose to buy leads is that it is always a numbers game. Buying a list of 1000 leads will not guarantee you 1000 new customers or clients. From that list of 1000 leads there will only be a handful of prospects who will become your customers.
The second thing to consider is to make sure that the lead provider would always have fresh leads for you from their database. They should guarantee you this because if not, then that small percentage of converting leads into clients from the list will be even smaller. Furthermore, the older the contact information that are in the list, the higher the chance that the leads have already been sold to another company or it is also possible that the prospects in that list have already signed up with your competitor leaving you no more room to pursue a business opportunity.
It is also important to remember that people only want to buy something from other people that they know. So if your business is still starting out or is not yet positioned as a market leader, then you may have a harder time of converting these leads into clients.
Do your homework
There is no question that buying business leads can be an effective way to take your lead generation project to a new level. Just remember to do your homework before you initiate your lead buying plans.
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