Get As Close To The Sale As You Possibly Can

In the latest episode of the B2C Lead Generation Podcast we look at an idea: whether you are buying or generating leads the aim should be to get as close to the sale as you possibly can.

We examine exactly what this means, how you can achieve it, and what the benefits of working in this way actually look like for you. We examine the spectrum of intent within lead generation and explain why chasing cheaper leads as a false economy. 

The following article has been adapted from the podcast. You can find links to listen to the entire episode at the bottom of the page. 

Get as close to the sales as you possibly can. What does this mean? 

In lead generation - whether you are buying or selling - you should aim to get as close to the sale as you possibly can. Most of the success you see in lead generation, whether from advertises, publishers, brokers, whoever, occurs when the lead generator is generating leads that are as close to the point of sale as possible. Consequently, the lead buyer is buying these leads when they are right at the point of sale. They are buying leads that are ‘easy’ to convert. 

Not all leads are created equal. There is a spectrum of intent. 

Marketing Qualified Leads 

Effectively, you have marketing qualified leads - this could be an email address or telephone number of a person who isn’t necessarily expecting to be contacted about a sale. What they are expecting is information or value or a solution to their problem. These are leads that typically require a degree of nurturing. The amount of nurturing required depends upon how close they are to the point of sale. The purpose of nurturing is to move them closer. 

When someone is an MQL you are still trying to get them as close to the sale as you possibly can. 

Purchasing Intent Leads

These are often leads that have filled an online form in. They come into a sales function but a sales agent is then required to ask them multiple questions to get all the information required to push them further along the spectrum to the point of being qualified and ready to convert.

For example, anyone who buys a house, anyone who takes our insurance, energy, broadband etc. will fill in a form with very basic information before being required to answer more questions and submit more information once they have become a PIL. 

Sales Qualified Leads 

There is a third type of lead where all the information gathered and questions asked as part of the sales function is actually attributed as part of the lead generation. Essentially, the initial form asks all the questions required before the point of submission. This acts as a level of qualification and moves the requisite work away from the sales function.  When the lead comes in they are essentially qualified and ready to buy. 

What are the benefits of buying SQLs? 

When buying leads that are as close to the sale as possible you fundamentally reduce the costs of running your sales function. Often in a very substantial way. The amount of work and spend required to make a sale is dramatically reduced when you buy leads the are at the point of sale.

The counterpoint to this is obviously the fact the CPL is higher when buying such leads, but as discussed in Why Do People Buy Cheap Leads?  choosing to buy cheaper leads is oftentimes a false economy as more time and spend is required moving them through to the point of the sale. 

Want to listen to the entire episode? You can get it now on Apple, Spotify or watch on Databowl’s YouTube Channel.