Through out my career in the Data Industry, I have been faced with customers who have been burned in the past by list companies on a daily basis. I have heard every excuse in the book to why they have been burned. However, there is a simple way to avoid this. Follow these simple rules below and I assure you, you will choose a winning lead provider.
Rule #1. Understand Marketing: Marketing is not a science. If it was, every business would be rich and your leads would cost a fortune. Set realistic goals prior to seeking out leads.
Rule #2: Know Your Deal: You must have an idea in your head of whom you want to contact. You must understand what your customer looks like and what drives them. If you don’t know who your customer is or will be, then your leads will be a shot in the dark. Going in blind is what will get you burned.
Rule #3: Research & Ask Questions: When choosing the best business lead provider, you must understand how they work and have trust and faith that they will deliver. Below are the key components to choosing a lead partner.
· How do they get their data? Listen for multiple sources. This is important because it will determine the age of the leads and lists as well as limit the chance of them being sold to your competition.
· How often is their data updated? All of the good lead providers update their data on a quarterly basis. Any less is unacceptable.
· What are their guarantees? If a business lead source is not willing to not stand behind their data, why should you?
· Does your lead provider understand what you do? Do not forget that your business lead provider is your marketing partner. Every list should be put together based on your offer.
Rule #4: Negotiate: You can always negotiate in the business world. However, never forget the age-old rules such as “if it sounds too good to be true, it probably is”. If you find multiple quotes and one source is more than 10% cheaper than a competitor, without a promotion, run away. The rule of thumb is “good leads are not cheap, cheap leads are not good”. Keep in mind, to generate a good business lead list takes a lot of money and time. Your lead provider’s quote should reflect this. If not, there is something wrong.
Rule #5: Execute: Work your business leads & lists. If you have a list of 10,000 records and you only call through 500, you cannot make an accurate assessment to its success. Sometimes the best part of the drink is at the bottom, same with business leads. There is gold in there, your job is to contact them and guide them down the path of mutual agreement.
Follow these rules above and you will achieve success when purchasing business leads for you and your sales team.