When Buying Leads is A Waste of Money


When Buying Leads is A Waste of Money

Being in sales for more than 13 years and working with top financial advisors, managing their leads and mine, one thing is clear; most salespeople don’t have processes in place.

We love closing, collecting big commission checks and even overcoming objections.

But how many LOVE following up?

How many have consistent and systematic ways of making sure a prospect does not slip through the cracks?

It doesn’t matter if you spend $10 or $250 on a lead.

If you are not following up or have an effective way of putting them through your sales process; you may as well go throw your money down the drain.

Because not following up and buying leads, is a waste of money.

As Ryan Stewman, the Hardcore Closer puts it not every person that came through your marketing funnel is ready to buy…

“90 percent of your leads will get lost, these are just the facts. Most salespeople have no long-term follow-up plan or automatic system in place…You can recoup a lot of the 90 percent by following up weekly. Sadly, most salespeople won’t”

Leads are the lifeblood of our business. Marketing is the fuel and sales is all about knowing what to do with both.

I’ve seen advisors and sales professionals buy high-end leads (paid $100+ PER lead). Call them a few times and forget about them.

Bought the marketing message from the company that SOLD the lead, and believed the leads were all candidates.

Ready to buy today.

Then eventually thought something was wrong with the lead or themselves, rather than treating the lead accordingly.

Companies sell leads. Some of them are simply great marketers, and aren’t overly concerned if you convert or close.

They are okay with the ‘burn + churn’.

But you are in business to succeed. To help your clients.

You don’t want to be wasting money or your time.

You can still build a thriving business with those same exact leads.

You just have to know what do with them.

Things to consider when buying leads:

  • Do you have a consistent process in place?
  • How soon do you follow up with them?
  • When do you take them off your rotation?
  • What do you do with their contact information?

Leads are leads. Some can certainly be better than others.

We just need to understand their psyche better.

When they are looking to purchase.

How they like to buy, etc.

At the end of the day; Leads are people.

Knowing who they are and how to effectively reach them is key.

But if you don’t have a process in place to sift + sort or respect their time-frame, you are throwing money away.

The leads are weak?

Maybe it’s your process.