Introduction to the Marketing Lyfe Podcast Ep. 122
Episode one 22 of the marketing I podcast. This is Taylor Timothy, your host. And today, guys, we’re gonna be talking about buying leads versus generating your own leads. So let’s not waste any more time guys and dive right in.
Buying Your Own Leads
The guys. First thing I want to talk about was buying leads. What is buying leads? Basically, you go to a company and you say, Hey, I want leads for this. Send them my way and I’ll pay a forum. Um, there’s a lot of people out there right now, buying leads and selling leads. So if you guys are looking for that kind of thing, it’s easily, you can easily find them. You can reach out to me and I can tell you where to go, but yeah, you can buy leads.
Pros of Buying Leads
So some of the pros to this is you don’t have to do any work.
No Work, Just Follow Up
You just have to follow up. So a lot of times these companies, they will send you the leads and all you have to do is immediately call them. You immediately have to text them, follow up with them and be on top of those leads.
And you don’t really have to do anything online, potentially it’s lower risk. Now, what I mean by lower risk in this situation is you’re not going to have to go build out your online process. That’s what I mean by it’s a lower risk. You don’t have to go out there and set up your site, build ads and do all those things.
And so all in all like the process is just shorter. Um, you literally buy the lead and you sell them. So that’s some of the pros there it’s really quick. It could be a potential fast sell.
Cons of Buying Leads
Leads can be Sold Multiple Times
So now some of the cons that can go into place is they can be sold multiple times.
So I was talking to a guy the other day and he used to buy leads and basically he was in a queue. So basically they would send out five leads immediately. And basically whoever answered the phone first, and these are all going to different companies. Um, they basically were in a feeding frenzy over this thing. Um, so basically these leads can be sold multiple times if you’re buying them also, you don’t know where they come from.
You Don’t Know Where the Leads Come From
Um, potentially like these companies are selling leads that they got a year ago, who knows, right? Like you really don’t know, you don’t know how they’re generating them or anything like that. So that’s the kind of the downfall, um, they’re being followed up with and maybe they filled out a form for a specific company and now they’re being sold to X company. So it could be a little bit confusing there.
You Can’t Control the Quality
And then on top of that, you can’t control the quality. So I goes back to where you don’t know how they were generated or anything like that. So that’s kind of some of the pros and cons with buying leads.
Generating Your Own Leads
So let’s talk about actually generating your own leads for your own business.
You Know the Numbers
So some of the pros here is, you know, the numbers. So you know how much the cost per lead is coming in. You know, if you generate a thousand leads and you, you know, on average, you close 20 of those leads. I don’t know you, but you’re going to find out your numbers. You’re going to know how much it’s going to cost upfront. Yes, you can. You could technically calculate that on the back end as well with buying leads, but more, more so than anything, you’re going to actually be able to generate these numbers, generate the leads, and you’re going to know everything.
You can Control the Quality
You can also can control the quality. Now, what do I, why do I say that? Um, you can control the quality so you can change your headlines. You can change your messaging and things like that. So sometimes just by changing out your headlines, your messaging, your videos, you can potentially generate better quality leads. You can throw them through different sells funnels as well. They can potentially enhance the quality of leads as well. So that’s some of the pros there.
And then some of the cons is it takes time.
Generating own Leads Takes Time
It takes a lot of time to dial in these processes and get them up going and generating the results that they’re actually looking for. So that’s some of the cons to doing this. Sometimes people will put like a couple months into it and they give up and they’re like, Oh, all my marketing doesn’t work at the frigging socks and that’s faults, I’m advertising. And my opinion, faults mentality, there it works.
It’s just, you have to be persistent with this. It’s just like cells. If you go, if you go and sell some days are going to be better than others. Same with online marketing. Some campaigns are going to work better than others. So it takes time.
Generating own Leads Takes Money
And then on top of that, what falls up with time? It takes money. So, you know, if you’re hiring a ad agency, it might take them time to get these leads coming in and get these processes set up. And then on top of that, you’re going to have to cover your ad costs and so on and so forth. So again, it takes time. It takes money to do that, but all in all the truth is your company needs leads. If you don’t have leads coming in, your company’s going to die. So figure out what process works best for you. I’m all in all. I know that all my marketing works, I know generating leads works. Um, it’s, it’s all about the followup too. There’s a whole process in place, but I know it works and I’ve seen lots of companies scale because of it.
Conclusion to the Marketing Lyfe Podcast Ep. 122
So let me know, guys, if you have any questions, this is going to wrap up episode one 22. If you guys have questions, feel free to reach out to me. I’m here to help you guys out and help you guys take your companies to the next level. So thanks guys for listening to episode one 22 and peace.