Pay Per Lead

Pay Per Lead

October 7th, 2009 → 12:44 pm @ Richard

How Can You Use Pay Per Lead

Marketing Strategies to Improve Your Business

If you want more leads for your business then pay per lead is an attractive choice.  But is it the right one and how does it work?

What is pay per lead?

It is exactly what it sounds like: You pay for leads instead of paying a flat rate for advertising or marketing.  There are lots of ways that this can be organized but the main benefit to you is that you don’t have to pay for any marketing that doesn’t result in new leads.

To pay for leads means you get a fixed price for each lead, which eliminates a lot of the risk that is usually associated with marketing and advertising your business.  So long as you can do a good enough job of closing sales, then it’s perfectly possible to adopt paying for leads as a strategy to grow your entire business.

So How Does This Work in Reality

The way it works depends on what kind of system you set up or use. Here are a few options that might be worth looking at:

  • Buying Leads: Buying leads from a 3rd party company like a lead broker allows you to get as many leads as you might want, but, it is very competitive and you need to make sure that the leads that you buy are of good enough quality for you to convert them into sales.  For more information on the kinds of questions to ask before you buy leads, check out our article on buying leads.
  • Online Pay Per Lead Websites: When you advertise online you will often be able to use pay per click advertising. With pay per click, you pay every time someone clicks on your advertisement and visits your site – even if they never get in touch with you.  Paying for leads is different. You only pay when you are sent a qualified lead.  Normally to pay for a lead is based around a single website. For example, someone could create a website about graphic design.  They will then market that website and attract people who are interested in buying graphic design services.  On the website the prospective customer will fill in a form explaining the details of what they are looking for.  As a business, if you are registered on that site, the site will send you details of that person’s request.  As a business you will set down the kinds of leads that you are interested in when you sign up.  Signing up to a pay per lead website is almost always free – you only pay when you receive a lead or a quote request from a prospective buyer that matches the criteria that you described.  Of course, there is no guarantee that every lead will turn into a customer.
  • Setting Up Your Own Lead Deals: Once you know exactly the kind of lead that you are looking for there is nothing to stop you setting up your own lead arrangements with marketing companies, professional partners or individual websites.  You could, for example, work with a telemarketing service and pay them for every lead that they generate for you.  To do this you will need to have a clear idea of what a good quality lead is to you – and agree this with anybody you will be working with in advance. You’ll need a system for them to deliver, and for you to follow up on, each lead.  And you’ll also want to make sure that you keep careful track of every lead that comes your way – and what the final outcome was.

What Next?

We Do It For You: If you’d like help with setting up your own pay per lead program, Click here for more info about the lead generation services we provide

Do It Yourself: For more lead generation ideas Download our free report

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