Yes, you can learn how to make money selling leads by reading this article. It will show you 25 easy ways and tips that really work.
Not to oversimplify being successful at business but it seems that there are basic things that need to be followed or accomplished for a business to be successful.
Assuming that the entrepreneur has done their due diligence and is providing a product or service that people need, then the first step would have been completed in that they are open for business.
Now all they need are customers to be engaged in buying the service or product of the business.
First, this company has paid $25+ million to members:
Attracting customers can be done in several ways.
Some of those methods of gaining customers can be through processes such as marketing, word-of-mouth, etc.
Sometimes these methods work and sometimes they are not as effective as they could be.
One additional way of gaining customers is through a process known as “lead generation.”
Let us, therefore, look at this process that is important to businesses to gain customers and a way for you to be involved by selling leads and making money.
25 Best Ways & Tips to Making Money Selling Leads
1. Know What a Lead is
A lead is a potential client that is a person or a business that has indicated an interest in the products or the services that you offered.
This interest can have been expressed verbally, through a request for more information, accessing your website, etc.
It is not a sale in the making but a potential sale in the making with the interest that the lead has expressed.
The purpose of a lead is an opportunity for you as a business to engage that lead and convert them into no longer a need but a customer by providing products or services to them.
The benefit of the lead is that for a company to continue staying in business by selling products and services and generating revenue, it needs to retain its current customer base and find new customers to provide its product or service to.
Therefore, the benefit of a lead is it is an opportunity for further business transactions.
Many companies depend upon leads because interaction with a customer is a two-way street.
Not only does the customer reach out to the company but the company needs to reach out to the lead or potential customer.
Therefore, following up on a lead is critical for the business to not allow leads to the lost and not attempt to engage that individual.
5. Marketing Qualified Lead (MQL)
One of the types of leads is known as marketing qualified leads.
These leads or contacts have reached out to you but they are not at the point where they want to interact with a customer sales representative
A sample of a marketing qualified lead would be a contact who takes the time to fill out a landing page form for an offer.
6. Sales Qualified Lead (SQL)
A sales qualified lead is a contact who has taken direct actions in which they have indicated their interest in becoming a paying customer.
An example of a sales qualified lead would be a lead who has filled out a form and has asked a specific question about a service or product that is provided.
7. Product Qualified Lead (PQL)
A PQL or product qualified lead is a contact that has used the product and is ready to move to the next level of continuing to become a paying customer.
An example of a product qualified lead would be an individual who has utilized a sample, likes what they have experienced, and now wishes to move forward from that sample experience in purchasing the product.
8. Service Qualified Lead
A service qualified lead is a contact who has expressed a commitment to becoming a paying customer.
An example of a service-qualified lead may be an individual who is currently using a product and has been enriched by the experience but now wish to upgrade to a different tier of service.
The lead would be referred to the sales team to make that upgrade possible.
When starting in endeavoring to make money selling leads, it is important to select a specific niche.
In other words, you should choose a specific industry or category of a company to specialize in rather than the shotgun approach.
To choose a specific segment of the business community, it is important to do your research based on many factors.
Some of those factors should include a large pool of individuals possibly needing this service, the pervasiveness of this service, and the stability of the service as it relates to historical, present, and future use.
For example, one particular niche in the business world would be to create quality leads as it comes to payday loans.
Your research would indicate that there are more payday loan businesses than there are McDonald’s restaurants.
10. Marketing Strategy
Once you have decided upon a specific niche in the business community, then you will need to develop a strategy on how you are going to generate these quality leads.
For a strategy to be successful, it needs to be multifaceted and not depend just upon one aspect of the marketing spectrum.
Therefore, you may choose social media sites such as YouTube, Google ads, Facebook, etc.
It is also important to know which social media websites are lower in cost when a mouse click is processed and which sites typically have better conversion rates.
For example, Facebook may be the least expensive way to generate leads but the use of other sites may have a higher conversion rate.
11. Making Money
After completing your identification of which niche you would like to focus on and how you will be capturing generated leads it is then important to decide how you will sell those leads.
As part of this process, you would need to research several lead buyers to find out which buyers will pay the most for the lead information.
Another consideration is that some buyers limit or put a cap on how many leads they will accept.
Therefore, you will need to create a relationship with multiple buyers to maximize your revenue-generating.
A good way to do this is to work with an affiliate network or lead generation company which will help you to approach multiple buyers at the same time and you will not have to be involved in building a network.
12. Calculating Costs
Before diving into the moneymaking venture of selling leads, you must understand the finances involved and calculate the income and expenses.
For example, you have determined that your niche is going to be payday loans.
To start gathering leads, you have created a debt advice sheet for anyone who registers with your website.
In this scenario, you would need to estimate the cost that it takes to host your web and the fees associated with this expense, your time or an expense in developing the content, getting people to click on the site and go to your webpage, etc.
Therefore, if all of these actions are time-consuming, that is, in essence, money that you are spending you need to understand what your return will be on the investment of your time, energy, and actual financial resources expended.
13. Data Needed for Generating Leads
When beginning the process of generating leads for sale, you must know what information is required for the leads to be useful.
Again, this company has paid $25+ million to members:
Often, just capturing a name and an email address is insufficient and not useful.
Therefore, the contact information that is required for the lead to be a quality lead would include a name, email address, phone number, and the full address of the information.
Also, some lead brokers require the gender of the individual their date of birth, occupation, and net worth.
14. Know about Finding Lead Brokers
Another important component to the process of making money selling leads is to find lead brokers.
To find these types of brokers you can search online and use search words such as finding a lead broker, broker’s data, etc.
One such website that deals in offering leads, lists, and data for customer marketing solutions are www.brokersdata.com.
15. Know How the Lead Generating Process Works
The first step leads to an individual discovering your service or product through one of your marketing channels.
Your marketing channel could include your website, blog, or social media page.
While on that page, they can click on a call to action image or button that encourages visitors to the site to take some sort of action.
This then takes the visitor to a landing page which is a separate webpage that is designed to capture lead information in exchange for an offer that you are providing.
For example, suppose you are in the business of lending money out and are making an offer to individuals to help them with their debt reduction.
The offer is the provision of a debt reduction guide and when they click on that button, it tastes them to the landing page where they fill out the appropriate information and then, in turn, they are given that debt reduction guide.
You, on the other hand, capture their data.
16. Use Your Own Website
If you have your website and offer a variety of products as customer service to your visitors, you can capture that information and sell that information as a lead.
It is, however, important to inform the individual by providing disclosure information about the use of the personal information that you capture.
17. Social Media Platforms
An excellent way in gaining leads is through the social media platforms that are available and that people utilize frequently.
Through social media platforms, there are many ways that your personal information can be voluntarily given and with your permission sold to others.
18. Use Facebook
A prime example of capturing leads with the popular social media platform Facebook is through the following methods:
- Calls to action
- Whisper codes
- Customize tabs
- Encouraging users to become branded fasteners
- And the creation of all types of offers.
19. Use Instagram
Another social media platform in which you can capture leads is Instagram.
This can be accomplished by using lead ads:
- Action buttons
- Use the swipe up feature
- Creates operable content
- Partner with an influencer
- And more
20. Customer Referrals
A time-proven method of gaining a lead for an additional customer would be to ask existing customers who are satisfied with their product to provide a referral to their friends and family.
You could also incentivize this referral process by giving the customer a certain percentage off on their next percentage on their next purchase.
21. Use Influencers
Based on your development strategy you probably now have a good idea of who your target demographic is.
With this in mind, you can link up with an influencer who has a similarity in the audience following as to what you are focusing on.
By being involved with an influencer, you are in essence, utilizing their audience to turn them into leads and hopefully into customers.
22. E-mail Offering
To gather leads, a good way to do this would be to create an email offer.
If you have a list of email subscribers, you could send out a mass email to these individuals and offer a special discount for a limited time offer opportunity which could turn a friend of the individual receiving the email to share that offer with others.
23. Use Blogging
Another opportunity that presents itself in capturing leads is if you have a blogging site.
As you blog about the various interests that you have, you can embed a link so that when the individual clicks on that link looking for additional information, you can, with their permission, capture their information and utilize this as a quality lead that you can sell given the proper disclosures indicated to your follower
24. Managing Data
As part of the housekeeping or paperwork side of making money selling leads is the managing of your data.
Therefore, you will need a database to store the leads that you gather.
Although a spreadsheet may seem like a simple solution it can become cumbersome if looking for multiple criteria when searching.
Therefore, it is important to have access to an SQL database to maintain the database and be able to use the data effectively and in a laser-like fashion.
It is important to remember that there may be licensing within your state that may be required in regards to collecting anyone’s personal information.
These are laws that have been recently enacted and have a direct effect on the gathering of information by telemarketers.
Therefore, it is important to stay within the boundaries of the law to ensure that you do not realize any fines for noncompliance.
While working for a not-for-profit, my job was to utilize a variety of methods to raise the needed revenue in support of the services that we offered to the community.
Some of the ways that we utilized to raise that needed revenue were through activities such as special events, grant writing, United Way, major gifts program, ongoing donations, etc.
One additional way that we raised revenue was through our direct mail campaign.
Through this effort would we would send out letters asking for support to our donor base which was comprised of individuals who history or affiliation and give to the organization.
As part of the direct mail campaign, we would also do mailings to prospective donors which were defined as individuals who had not given to the charity but less or “leads” were purchased from other companies that had designated these individuals as potential donors.
Their potential giving to our not-for-profit was based upon their history of giving to other not-for-profits or charitable causes.
We would mail several prospect letters out to these potential donors and would often enjoy a 4% return on this effort people would give.
The reality of utilizing and developing these “leads” is that we gained new donors, and additional money, and added to our ongoing door base of supporters.
What Are Some Questions That Companies Buying Leads Will Ask?
A company that is buying leads will ask you questions such as:
- Why did you contact us?
- Price of your services?
- What is your process?
- How do you qualify your leads?
- What is your experience?
How Big is the Lead Industry?
Answer As of this writing the lead generating business is anticipated to reach $295 billion.
You Can Do It
For a business to be successful, it takes customers and all of the various strategies and methods to gain customers need to be utilized.
One of those ways is through the producing of leads and, if interested, this is something that you can be part of and earn money in the process.
If you compared the running of a business to fishing, you would know that having the right equipment and the right bait are all critical components of fishing and endeavoring to catch supper or that trophy fish.
If, however, you don’t know where the fish are your fishing trip will be non-productive, or in this case, the lack of customers or a business will be disastrous.
As in fishing and knowing where to let down the hook is the same as it relates to business.
You need to obtain leads or know where to engage potential customers.
Again, this company has paid $25+ million to members: