Many of you are probably reading this title and thinking that this is a question that doesn't need to be answered. If you have worked in any sales field, particularly the mortgage industry, telemarketing, multi-level-marketing, or direct sales you are very familiar with the term "leads". However, many people who have never worked in advertising or sales are unfamiliar with this term. This article will also go into detail about different types of leads, their terminology, and benefits of using them for your business. So what are leads? Leads are data, typically names, phone number, email addresses, or physical address for a sales person to contact in hopes of closing a sale.
Here are some specific examples of leads:
If you are a telemarketer, leads would be the list of names and phone numbers you would call in attempt to make a sale.
When you see a banner ad for a home loan on the internet, and you click on the ad then fill out your name and information. That data is then collected by a mortgage or lead company. You are now considered a lead and will be passed onto a loan officer to call you back.
When you search for a new car on the internet, and you contact your local dealership to find out if the car you want is in stock, when your email is received you are considered an "internet leads". A sales manager will then call you back in hopes to close a sale.
You can buy leads for nearly any industry and there are many terms for these leads.
If leads are not available for your industry then you can contact a company that does lead generation to create custom advertising for you. This company will then collect the data of the people who have responded to the advertising, and sell you this information as leads.
Here are some common lead terms:
Telemarketing Leads - Leads intended to be called by telephone.
Real Time Leads - Leads that are delivered in real time (immediately) to the sales person. Typically by routed phone call or email notification. This enables the sales person to follow up while the buyer is still interested.
Autoresponder Leads - Leads that contain an email address and will be used for email marketing. An "auto responder" is a type of software that handles large email lists and mailing campaigns.
Double Opt In Leads - Leads that have requested information twice. For example the lead first fills out a form on the internet requesting information (single opt in), then a follow up email is sent to confirm their interest (double opt in).
Surveyed Leads - Leads that have completed survey questions. So instead of getting basic information such as a name and phone number, a surveyed lead may include multiple answered questions, such as how interested the lead is in the product you have to offer, how much money they can invest, when they would like to be contacted, etc. Surveyed leads are typically generated over the internet with online surveys.
Co-Reg / Co-Registration Leads - Leads that have registered for something else, such as an online purchase. At the time of their registration their data is also collected to be leads. Typically when you make an online purchase and they are multiple check boxes asking if you are interested in other offers, this is considered a co-reg.
Often a business will specialize in their own industry, but not in marketing and advertising. This is where a lead company comes in. Lead generation companies are comprised of the best marketers and tools for reaching your target audience. Because they do advertising on a large scale and on a daily basis, they can get you a better return on investment than trying to generate leads on your own if you are only a novice marketer. You may want to try searching the internet for a lead company that is specific to your industry. Such as "network marketing leads", or "diet and weight loss leads". You may be surprised what you can find!
How can leads help your business? Leads are potential prospects for a closed sale, so by using leads you have a higher chance of more sales, which mean more growth and revenue for your business. Many top earners in sales companies such as network marketing or multi-level-marketing rely heavily on the use of leads to account for their success. By having more contacts in their pipeline on a daily basis they increase their odds for success.
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