If your company offers both products and services, you may be hard-pressed to determine what type of leads you want to purchase. Depending on the revenue that would be brought in for a product or a service lead, you may be between a rock and a hard place on determining the best option. Though there is always the option of buying both product leads and service leads, in some cases this is not possible. The following are a few questions to ask yourself to determine which option is best.
What Lead Option Will Yield the Most Overall Results?
Ideally, businesses look for a lead option that will not only yield income results, but also yield results in other areas. For example, if product leads will open doors to networking with business to business options then that may be more viable for a business than a service lead which will only open the doors to sales. Determining which is the best option comes down to what a business wants to do for their initial goals. Business-to-business networking can open up hundreds of doors to larger quantity sales while service leads may open the door to only client sales.
What Offers the Most Revenue?
The second question to ask is what option would offer the most revenue. For example, if you have a product that works for business-to-business or clients and that product yields a $50 revenue for each product sold while the service lead this not open doors for business-to-business and yield $100 revenue for each product sold, then you are left with a tough decision. You may be able to purchase product leads that would offer higher end sales. In other words, instead of 10 $50 revenue sales you may end up with 1000 $50 revenue sales, which would possibly outweigh the potential of only a few $100 revenue sales. You have to look at the bottom line of what will bring in more money with fewer sales and less overhead.
What Will Bring in Ongoing Revenue?
Ideally, any business is looking for an ongoing revenue stream. This means that if you are purchasing leads, you want to purchase the lead that will bring in ongoing client revenue. In some cases, this may be a product lead. The product lead may work for a product that has an ongoing revenue stream. However, if you offer a service, that service may be something that the person would use monthly, quarterly or yearly. Depending on what the specific product is with a specific services would greatly impact which one will bring ongoing revenue.
After you have determined what lead option brings in the most overall results, the most revenue, and the most ongoing revenue you will be able to determine which lead purchase is the best for your business. If a product lead will bring in the most overall results, the most revenue, and the most ongoing revenue that that is the one you need to purchase. There will be some cases where both product and service leads can work together and there will be some cases in which the product lead in the service leads are one and the same. Determining what your business goals are is the best way to determine which type of lead is best for your business.