Marketing is expensive and in many ways confidential. What works and what doesn’t work is often this very obvious adjustment in image or value messaging. That’s why aggressive salespeople who thrive on good conversation and building personal relationships often find themselves frustrated when trying to create effective and sustainable marketing programs. Fortunately, there are individuals who can reduce that frustration and help you efficiently stock your pipeline with new connections. There are many powerful lead generators that generate hundreds of thousands of leads per day and can filter and target these customer queries specifically for your products and services. The best news is that they generally only pay per lead. This means you only pay when a customer raises their hand to call you.
Simple as it sounds, paying for each lead requires adjusting your understanding and sales process for real success.
Create payment per lead sales process
Your sales process today is focused on watching people move through the sales funnel and strategically building relationships. In many respects the Internet leads, and pay per lead programs, especially this process short circuit. Often these leads, or customer inquiries, are blocked and unsolicited calls as desired – ready to go. They are at a point in the sales process where they expect an immediate response, frequent follow-ups if you miss them, detailed information and minimal time, hassle and interaction to close the deal. This may mean you need to change your sales processes a bit.
You need a system, a lead management system. Typically this is best accomplished with lead management software, but it can be built with a disciplined combination of email and spreadsheet lead tracking. This system should help you create efficiencies at the key pay points of each lead acquisition: immediate lead receipt from the point of customer inquiry, real-time distribution, lead relationship management and lead tracking. Without these key ingredients, you’ll wonder why you can’t get the promised conversions and ROI from your leads.
Understanding the pay per lead transaction
A critical part of refining your sales process with lead marketing is understanding how you generate a lead and what you have when you receive that lead.
Most paid for leads use one of two current techniques: email marketing or paid search (pay per click). Both require balance and efficiency. In general, these trading methods are based on the theory of large numbers and are make or break on a small scale.
These methods produce leads in the same way. The idea is to engage a large number of targeted email addresses or web traffic with a compelling offer or value to enter a certain amount of personal contact information and the details of your request. The end result of this process is generally a well-targeted prospect, but with the simplicity of the offer and the small risk of executing only a small percentage, they will immediately become buyers. Therefore, it is important to actively monitor the sales process and system.
Review leading suppliers
Understanding the basics of marketing will help you choose the right partner. The key to success in choosing the right lead supplier is to ask a lot of questions.
- How long have you been in business?
- How are the leads I buy generated?
- What industries do you generate leads for? What is your skill?
- What is your return policy?
- What are some best practices in making yours?
Additionally, be sure to research the business for these basic questions about their leads. Check their business location, contact information and business licenses. Check with the best business bureau. Google their company name and principles. Ask colleagues and friends in your industry for opinions and insights.
Facilitate your lead acquisition
Once you’re ready to start optimizing that purchase by matching your lead inquiries (lead filters) to your business’s products and services, it’s probably one of the biggest secrets to paying per lead. Although the information provided by the customer is limited to a 10-20 data point lead, it is very powerful for targeting your ideal customer. When you start shopping, make sure you’re directed to customers with the least amount of filtering you can really help – this means matching geography, product features and lead volume.
It will help you improve your targeting and acquisition as you begin to accept your investment in lead management. You can go beyond matching your business and start matching your unique sales force.
Follow up leads and sales
Developing the perfect acquisition leads for the right sales people is entirely dependent on the supervision of great sales leadership. The ability to see what happens to each of your purchased leads. What works and what doesn’t work is critical to process improvement. By tracking your leads and the sales processes that work with them, you can see opportunities to improve both.
Increase your tracking by defining and permanently tagging your leads with time, date and actions taken. This simple technique reveals bottlenecks in your sales pipeline and at what point in the funnel customers fall. With this information, Marketing or Sales will determine if the source of the failure is a more direct process.
It requires a lead payment process
Performance lead generation is an efficient and value-based way to pay for marketing. However, you need to create a trackable, repeatable process to create consistent and predictable success. Be sure to evaluate this marketing approach for your business. Make sure you have a good fit: partner, leads and sales culture. Then put these key processes in place and watch your success grow.