Everything you need to know about buying internet leads
Are you looking to buy online leads for your business? If so, keep reading. This article will go through everything you need to know about buying online leads to help your grow your business, including:
- How can you buy online leads?
- Should you buy online leads?
- Is buying leads the best option for your business?
… If you do NOT want to buy leads from a lead gen company…
… And instead you want to get your own leads, appointments and clients predictably every month, click here to watch this video to see how you can do this.
The video explains how you can get your own leads without paying for ads, paying another company for leads, relying on referrals, going to networking events, speaking at seminars or anything else like that!
I highly recommend you watch the video here before reading the rest of this article.
Table of contents
- Everything you need to know about buying internet leads
- How to buy online leads
- Shared vs exclusive leads
- Buying leads from a lead gen company vs getting your own leads
- The problem with buying online leads
- The best strategy to generate online leads
- Should you pay for internet leads or generate them yourself?
- How to generate your own leads on-demand on autopilot
How to buy online leads
To buy online leads you need to follow these 3 steps:
Step 1: Identify the kind of leads you want to buy
There are many types of leads you can buy and not all leads are equal!
Here are a few types of online leads you can buy:
- Lead lists
- Shared leads
- Exclusive leads
- Leads from Facebook ads
- Leads from LinkedIn ads
- Leads from Google Ads
Step 2: Pay for leads
Once you’ve decided on the type of lead you want to buy, you can pay for them.
How to buy leads will depend on the type of lead you are buying.
Buying leads from a lead gen company
If you’re buying shared or exclusive leads from a lead gen company, you will likely need to purchase leads in bulk. The more leads you purchase, the lower you’ll pay. Then you will typically receive the leads via email in real-time.
Buying exclusive leads yourself without a lead gen company
If you’re buying leads with Facebook ads (or any other paid advertising channel), after spending about $1,000USD on ads, Facebook will tell you your cost per lead. Once you know your cost per lead, you can decide how many leads you want to buy each month.
Step 3: Convert leads into paying clients
This is the most important step to buying leads. You need to convert as many leads as possible into paying clients.
How many leads can you expect to convert?
This largely depends on the type of lead you are buying and the strategy used to generate these leads.
For example, if you buy shared leads or lead lists, your conversion rate will be much lower compared to buying exclusive leads with people looking for your services right now.
Shared vs exclusive leads
Buying shared leads in most cases is not going to be worth it. Shared leads do not provide the best experience to both the business owner buying the lead and the prospect looking for help.
Buying exclusive leads on the other hand is much better.
But there are two ways you can buy exclusive leads.
Option 1: You can buy exclusive leads from a lead gen company
Option 2: You can buy exclusive leads yourself
Logically, you might be wondering: which option is best?
Buying leads from a lead gen company vs getting your own leads
There are a LOT of lead generation companies today that will sell you internet, web or shared business leads.
These types of leads are generated when someone fills in a form online (usually their name, email and phone number) because they say they are interested in learning more about a particular type of services.
The lead is then passed either to your business (as an exclusive lead) or to your business and a few other competitors (a shared lead).
However, I’ve noticed that the QUALITY of buying leads has significantly declined in recent years.
Why it this?
Watch the video to see my thoughts on why this is happening (or keep reading on…):
The problem with buying online leads
The biggest problem with generating leads online is that in most cases the quality of the leads are declining.
Here are some of the problems I would hear from people buying online leads:
- The leads are hard to get hold of on the phone
- The leads don’t respond to emails / calls / messages
- The leads are shopping around and looking for the “best price”
- The leads are not the right type of clients that I’m looking for
If you’ve ever tried buying leads yourself online, you might be able to relate to some (or most) of these issues.
And when I would speak to potential clients on the phone, many had tried buying internet leads in the past from all kinds of different lead gen companies and they were getting EXACTLY the same problems again and again.
Does buying leads work?
With determination, constant following up and a little hustle there are people who CAN get still get a good ROI when buying internet leads. It’s tough, but not impossible.
So it’s not always the case that the “leads are bad”. In most cases, if the lead generation company is doing a good job, these are people who have genuinely filled in a form to learn more about how you can help them.
But – and here’s the key point – the reason why most businesses buying leads say the leads were bad (or hard to get hold of, or not a good fit, etc) was because of the STRATEGY used to generate the leads in the first place.
The best strategy to generate online leads
To explain the best strategy to generate leads, you need to understand the old strategy (and what 80% of lead gen companies are still doing).
Here was the old way of generating leads online:
- People see an advertisement online (Facebook ads, Google, etc)
- People fill in a form to learn more
- You chase the leads for an appointment
Here is the new way of generating leads online:
- People see an advertisement online
- People fill in a form to learn more
- They watch a short video presentation (about how you can help them)
- If it sounds like a good fit, THEY schedule a call with you (rather than you chasing to work with them)
This tweak to the strategy (steps 3 and 4) completely changed everything for myself and my clients.
Now instead of you chasing internet leads, THEY chased YOU.
Now instead of convincing the leads to work with you, they WANTED to work with YOU.
It’s funny how one simple tweak in a strategy can make such a big difference…
Should you pay for internet leads or generate them yourself?
At this point, you might be wondering: is it better to generate the leads myself or pay someone to generate the leads for me?
It’s a good question.
In the past, my business model was based around selling leads to businesses. But I found that many clients wanted to be in control of their own marketing.
So, even though I still help some clients by selling leads, most of my businesses is focused on helping clients generate their own leads themselves (through lead generation training).
Benefits of generating leads yourself:
- Lower cost: you get the leads at-cost without paying a premium or any mark-up to a lead gen company.
- Higher quality leads: leads are seeing your business and not a generic brand which builds more trust
- Exclusive leads: obviously any leads you generate won’t be shared with any competitors
- Full control of your marketing: you are not locked in to any contracts so you can generate as many leads as you like on-demand
- New innovative ideas: you have room to experiment and test your own marketing ideas
- Education: once you know how to generate leads, you can use this knowledge for years to come in any business
Benefits of buying leads:
- Takes less time: the lead gen company does all the work for you
- Less risky: the lead gen company is taking on most of the risk to generate the leads
As you can see there are pros and cons for both buying leads and generating leads yourself.
Ultimately it will be up to you to decide which option you think will be best for YOU and your business.
Warning: If you do decide to buy leads, just remember to do your best to avoid shared leads and make sure the leads are as high quality as possible (to avoid wasting money).
If you’re currently buying internet leads or thinking about paying for online leads… don’t just get a lead with someone who fills in a form online. Get a lead to watch a short video presentation about how you can help them and then get them to schedules a call with you straight in your calendar.
What about shared leads, are they good?
How to generate your own leads on-demand on autopilot
If you want to generate your own exclusive leads at cost, you might some questions about HOW to actually do this.
- How do you create a short video presentation to build trust with leads?
- What are the best marketing channels to generate leads?
- Do you need a lot of money to generate leads?
- How can you use software and tools to automate 80% of the work?
If you’d like to learn, step by step, how this strategy works, you can sign up to my free masterclass training. I’ll show you exactly how you can generate your own exclusive high quality leads with prospects that actually want to work with you.
Ashley Davis (or ‘Ash’ for short) is the CEO & Founder of Skyline Social. For over 15 years, he has been helping business owners with lead generation. Ash specializes in helping businesses get high-quality leads, appointments and clients each month in an automated, scalable and profitable way. You can watch his free Masterclass training to learn more.