For B2B operations that are entering the market, preparing to scale up or targeting a new customer, having a list of qualified leads is invaluable. Purchasing the right list of qualified leads means asking the right questions.
So what are the questions that need to be asked so that your business is investing in the best-qualified leads list? The following 10 tips will help you to determine how to get the best ROI for your leads purchase.
Who is your ideal customer?
Your ideal customer profile is something that your marketing team should already have prepared. It’s the who, what, why, when and where of your target audience.
Industry – is your product or service sector-specific?
Region – how far is your online audience from your main business centre?
Business size – what size businesses do you want to target?
Purchasing power – Does the lead have the funds to purchase your product or service?
Company contact – which decision maker should you target in each company?
Choosing the right provider
For a qualified leads provider to be the right choice for your business, it is important that you do your research to ensure that you are paying for what you want and need. Not only should the provider be able to prove that they do have qualified leads for your industry, but they should also have a proven record in providing leads that enable businesses to grow.
Is the data up-to-date?
Data dates fast, so question the provider about their update cycles. If they have a purge period of more than 6 months, in most cases you would be receiving data that is potentially out of date, and not useful.
Buy only what you need
Your team can only make so many calls and follow up on a limited number of leads each day. You need to consider the size of your team, the average time a call takes and the follow-up process before buying a list so that you can buy a portion that suits your operational needs. If you buy too much, it could pressure your team to push through and not spend time on securing sales or doing follow-ups, or you might not use all the data and it expires.
Try before you buy
Some providers will give you a sample data set. Use can use that sample to check the accuracy and quality of the data, before committing to purchasing.
Determine how you can use the data
Know your rights before you make the purchase. Are you buying the data outright or under a licensing agreement? Knowing the details of how you are hoping to use the data you buy will determine which providers you want to use.
Single-use records cost less than outright ownership agreements, but you can only make contact with leads once.
Multiple-use records allow you to contact the lead as many times as you like up to the expiry date of your agreement, which is usually 12 months.
Brokers generally include ‘seed’ data that alerts them if you breach the terms of the licence.
Get a guarantee
Read the terms and conditions of your contract so that you have recourse if for some reason the data is out of date, unqualified or otherwise incorrect.
What are the costs?
Depending on the industry, the complexity of the list, and the licensing terms, data can cost anywhere from $20 – $200 per lead. It is important to understand the cost structure offered, as some low-cost data might only include a company name and phone number, while higher-cost data might include the name and business contact of company decision-makers.
Some providers include caveats such as minimum order charges, output or delivery charges or charge for additional information about the company that you could find yourself on the internet.
Understand the legalities
Know your legal obligations before buying data and launching a telemarketing campaign. In many regions, businesses can opt out of receiving unsolicited sales calls. You should ask the provider if the lists have been screened, and run a screen yourself to be certain that all the contacts are on the good-to-call list. If you call a business on a do not call list you can face fines and penalties if you are reported, so it is imperative that you qualify the list before calling using the free tools online to double-check records.