Selling leads to other companies is a very fruitful business. It’s been considered a money-making machine in recent times. Today, we’ll talk about how to sell “Leads” and make a profit out of them. Let’s start.
What Is “Lead Selling?”
Leads are basically people and gathering their personal information is referred to as generating leads. We collect leads to build our own email lists of people which later on we would sell or promote different products and that way we can earn more money altogether.
How Do Leads Work?
In business, a potential customer is considered a lead. A lead can be generated from marketing efforts such as advertisements, sales calls, landing pages, and websites.
In order to generate leads for your business, you need to spend money and/or time on advertising or marketing. Once you have a lead, you would want to send them an email, or better yet make a phone call, with information about your company and products/services and try to convert them into a customer from a prospect.
How To Sell Leads?
- Organize Your Lead Offering
- Acquiring Leads To Sell
- Build A Buyer Network
- Establish Lead Distribution Logic
- Build Lead Purchasing Options
Organize Your Lead Offering:
The first step is to organize your lead database. You’ll have to figure out whether you want to collect one type of lead or multiple types, when you’ve figured it out then you’ll have to establish the exact lead fields that will segment your lead type.
These are the fields that you will capture on your lead form and provide your lead buyers with the contact information of every lead. After you establish your lead segments and the lead fields to capture, you need to decide what your exact lead offering will be
You’ll have to decide whether you want to sell the leads in packages(100 leads/month) or you want to go for the PPL(Pay-Per-Lead) where you’ll get paid for each lead that you’ll be providing to the company that is buying from you. You can also decide to sell the leads exclusively (one buyer per lead), non-exclusively (multiple buyers per lead), or both, and what pricing structure you will use for each.
Acquiring Leads To Sell (How To Do It):
Once you’re done deciding the framework of your lead selling and the pricing structure, now it’s time to move on to the two main strategies for acquiring leads;
This is the most common method of gathering leads. Here, you don’t have to pay someone else to generate them and you can take all the profit. You can also use Google Adwords and SEO strategy but these can be tough to implement and costly but can get you good results in generating leads.
Another method is to purchase the leads. Many lead sellers resort to buying leads to supply or supplement their lead flow. Buying leads in real-time from another lead seller does not require you to maintain your own marketing efforts, but instead allows you to use your network of buyers to find a service provider for each lead you purchase.
However, it is important to remember that if you are purchasing leads only to resell them, it is in everyone’s best interest that you provide additional value to the process.
What To Avoid While Getting The Leads:
It is very important to keep in mind that the leads that we’re buying or generating should be active leads that can be reached and contacted. We are scraping the whole internet and databases so it’s equally essential to keep an eye on the quality of leads instead of quantity.
Build A Buyer Network:
After you’ve determined how you’ll do your lead acquisition and set up the pricing scheme now it’s time for you to look forward to the network of buyers who’re willing to purchase your leads.
This is one of the most important and difficult steps when building your lead selling process. If you plan on running a long-term lead selling business, be prepared to dedicate much of your up-front and ongoing efforts to finding and working with your lead buyers.
End Service/Retail Lead Buyers:
The greatest clients are the “retail buyers”(also known as end service providers).
These are the buyers that plan on reaching out to and making a sales pitch to the leads themselves. Because they are the end service providers, retail buyers are the highest paying lead buyers on the market, but they are oftentimes limited geographically or have set lead needs that sometimes limit the leads you can sell to them.
Lead Aggregators/Wholesale Buyers:
Lead aggregators (also known as wholesale buyers) purchase leads with the intention of re-selling those leads to their own network of buyers. Although lead aggregators pay less than end service/retail lead buyers, they can still be very valuable clients. They are typically easier to find and begin working relationships with and can provide a wider lead coverage than your retail buyers alone can.
Establish Lead Distribution Logic:
This step requires you to select the lead distribution logic you will be able to utilize in your business. Lead distribution logic gives you several options that allow you to maximize your profits and optimize your lead flow.
Here you’ll have to build filters to segment your leads for every one of your clients that specifies not only the lead fields that each buyer accepts, but even the time of day/day of the week they accept leads, price exceptions, and more. These filter/segment sets allow you to build custom business rules that match real-time leads to the appropriate lead buyer(s).
Build Lead Purchasing Options:
Finally, you need to establish and configure the lead purchasing options that you give to your clients. When a client purchases a lead, how can they receive this lead? Will you automatically email the lead to the client, post the lead into the client’s CRM or place the lead in a buyer portal to be retrieved at the buyer’s discretion?
While most buyers provide posting specifications that allow you to automatically post every lead into their CRM or Lead Management System, you need to identify exactly what happens once a client purchases a lead.
Once your client buys a lead, how will you charge them? It is also important to set up a structured billing agreement that specifies whether you are charging for leads in real-time, sending an invoice at the end of every week or month, or even launching automated re-billing on a time or trigger basis.
Where Can We Sell Leads?
If you’re a lead collector and you’ve sufficient leads which you want to sell and make money out of it then you should definitely look into these places, such as;
- Marketplaces: (Upwork, Fiverr, People Per Hours)
- Social Media: (Facebook Groups, Facebook Page, Twitter)
- Communities & Forums: (Warrior Forum, BlackHatWorld, Sub-Reddit, Niche Relevant Forums)
To Wrap It Up:
This article is a mere guide to “how to sell leads” if you’re planning to be a lead seller. In order to run a successful lead-selling business, lead companies need to either build or purchase a lead distribution system to handle these tasks. One such website that we can suggest is LeadStal where you can generate leads and sell them according to your preference.
We hope we’ve helped you through this article and we wish you all the best!
Thank you for reading and being with us, please read more of our blogs, such as; “9 Reasons Why Lead Generation Is Important For Your Business“