Are non-converting leads from one company useful to another?

by Delta223 2 replies
One of Bob Serling's joint venture ideas has you buying the non-converting leads from one company and selling them to another within a 2.5 mile radius. As I think through the logic of it, I have to wonder if say a chiropractor that couldn't get a person to respond is truly valuable to a 2nd business. Bob says you should be selling leads for about $100 a piece so this is not a place where quality can slip.

Does anyone have experience recycling dead leads for another business? Do they wake up if the business performs the same service but is different from the one they originally responded to? Or are they likely going to remain as non-responders?
#offline marketing #company #leads #nonconverting
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  • Profile picture of the author Claude Whitacre
    Originally Posted by Delta223 View Post

    One of Bob Serling's joint venture ideas has you buying the non-converting leads from one company and selling them to another within a 2.5 mile radius. As I think through the logic of it, I have to wonder if say a chiropractor that couldn't get a person to respond is truly valuable to a 2nd business. Bob says you should be selling leads for about $100 a piece so this is not a place where quality can slip.

    Does anyone have experience recycling dead leads for another business? Do they wake up if the business performs the same service but is different from the one they originally responded to? Or are they likely going to remain as non-responders?
    I've only bought lists of buyers. Or, if I had to, a list of buyers and non-buyers.

    A few times, I made a deal with another local business (who made in home sales) to trade the leads of the people that would let them/us demonstrate their/our product to them, but didn't buy. These leads were worse than no leads at all. Complete time wasters.

    Think about what kind of lead a non-buyer is. It's someone who is used to not buying. They re used to seeing a presentation/sales letter/offer and not buying. Your job is to reverse the type of person they are. This is not just a worthless lead, it's a dead name.

    $100? You can buy lists of buyers for less than $1 each from any list company, even if they are very highly selective.

    I once bought a list of local people who bought exactly the same product (and brand) that I sold locally. I paid $5,000 for the 5,000 names..including their address, phone, what they bought, date of purchase, how much they paid, and subsequent purchases.

    And even though I called them on the phone, I could only get about 10% to come into my retail store. Still, hugely profitable.

    Can you sell the idea of buying the dead leads of competitors? Sure. And you can get whatever the customer is willing to pay. I wouldn't expect continuous sales though.

    Now, leads of people that used to buy from the competitor, but switched suppliers? That's a good list...because they are people that are used to buying...and are used to buying from new suppliers.

    For example, a great list to sell to if you have a business newsletter is a list of people that used to subscribe to a different paid newsletter, but eventually cancelled their subscription. Many of these people are just looking for a new mentor....a new guru.
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  • Profile picture of the author theleadsguy
    I have extensive experience in lead generation. From my experience, recycling leads within the same industry (e.g. selling non-converting chiropractor leads to another chiropractic firm) doesn't work very well.

    What I have found to work pretty well is sharing or selling leads between one industry to another. For example, let's say you own a roofing company and come across a client that mentions he/she needs a home security system. An alarm company would pay you pretty good money for such a hot lead.
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