Every online business needs new customers or new leads in order to stay alive. However, the question is should leads be purchased or not? There seems to be no real consensus on this. Some internet marketers will argue that buying targeted leads is essential in order to have a thriving business while others will argue against buying targeted leads because they rarely convert to sales.
Let’s look at the chart below that points out the pros and cons of purchasing leads.
Buying Targeted Leads
My Experience with Buying Leads
I have bought hundreds of leads in the past 3 years, and the majority of them did not pan out, meaning that they did not open my emails regarding my network marketing opportunities. I realize that there is no “guarantee” that every lead purchased will convert to a sale. However, since I was on a limited budget, I wanted the ratio of leads that opted in to receiving my emails to be high. For instance, out of 200 leads, I expected at least 10 of those leads to opt in. I know that the process of getting leads that convert is a numbers game (more leads=more potential conversions to sales). Due to my limited budget however, I had to look for other ways to generate leads.
Other Ways of Generating Leads
For those of you who either cannot afford or choose not to buy leads, here are some alternative ways to generate leads:
1. Use of social media—
You can either follow(or tweet) people or join FB groups who share your interests or who may be potential customers for your business.
2. Offline advertising–Business cards, flyers, word of mouth
Even though we are in the computer age, good old fashioned ways to advertise can still work and should not be overlooked. Some examples include placing classified ads in newspapers, placing flyers or business cards on community bulletin boards in supermarkets, or simply talking to other people. You never know– a friend or family member who may not be interested may know someone else who is.
3. Online advertising–Press releases, safelists, traffic exchanges, blogging, email marketing
4. Creative advertising–combination of above mentioned ways
Use your brain to come up with unique (legal and ethical) ways to advertise and market your business. I have read several blog posts by highly successful network marketers regarding how they generate lots of leads that convert to sales by being creative. For instance:
- One network marketer actually placed a few of his business cards on the gas pumps at a station while he was getting gas for his car.
- Another network marketer placed her business cards discreetly in public places, such as bank ATM’s, public restrooms in hotels, shopping malls
Based on my research and personal experience, there is no right or wrong answer to the question of whether or not leads should be purchased. While purchased leads convert to sales for some, it may not do so for others. It’s really like rolling the dice. My suggestion is to try both free leads and purchased leads to see what results you get. Whatever way works best for you, by all means stick to it. For those of you who are new to affiliate marketing and need help in learning how to get leads to get your business up and running, feel free to check out my #1 recommended source for in-depth training on lead generation and more.
If you have any thoughts or comments about purchasing leads or need help, please feel free to put your comments below. I’d love to hear from you.
Bonus: Click here for more tips and strategies for lead generation.
This my way of saying thanks for taking the time to read this post. Have a great day!