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Roast My Idea - Lead Generation Business

Discussion in 'Ideas, Needs, Concept Feedback' started by SmoothFranko, Oct 10, 2015.

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  1. DaRK9
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    DaRK9 Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Don't give up control over the sale. I sell online food ordering services locally. All control is in my hands, if someone F^$&s me off on an invoice, they no longer get orders.

    I learned this the hard way on my second client. I installed all my software on their website. I was supposed to get a %. No monthly.

    Every week was the same "Nope, no one has ordered."
    Go to login to the admin, password is changed.
    "My son is taking care of it now."
    "No one has ordered."

    Yet I had friends that ordered, and picked up their food.

    Control. Sometimes you think you have it, but you don't.

    Always hold the money first if you help it.

    The subscription + lower commission model works as well. That is what I do now, and all software is hosted by me.
     
    Last edited: Oct 26, 2015
  2. SmoothFranko
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    SmoothFranko Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    My current plans looks something like this

    1. Finish up website (CTA, design ect..)
    2. Begin an AdWords Campaign to drive traffic to the site.
    3. Give any leads to my friend who runs a mobile IT service.
    4. Get him to give me testimonials I can use.
    5. Rinse and Repeat till I have have a good grasp of AdWords.
    6. Look at other marketing methods.
    7. Contact candidate IT businsesses for info and offer them leads.
    8. Secure a Contract with at least one of them.
    9. Continue generating leads and building business relationships.
    10. Rinse and Repeat
    11. Profit????
     
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  3. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I forgot to come back to answer this.

    I have tried % of sales value a few times. Maybe smarter people have made it work. I steer clear now.

    It's not just the trust issues of them saying what revenue you drove, but also proving it came from your marketing efforts.

    More importantly, I found the end business wasn't incentivised to close the sales. They had no skin in the game so could just let leads go cold while they did something else, or they quoted non-competitively just to see if they could get a nice high price. "Why not eh? We only pay if the lead converts."

    I figure if they're paying up front for the leads (per lead or monthly fee or whatever), then they are much more incentivised to jump on a lead when it comes in, and to quote more competitively so they make a sale.

    So the payment terms might actually affect the conversion rate.


    Also, the client might suck at closing, or have a non-competitive offer, and I'd pay for the ad spend, plus my time, and have nothing to show for it.
     
  4. tafy
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    tafy Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Hey so depending on what industry your in, leads may be the thing of the past. Customers just want things taken care of, so why not take bookings instead of leads, take the money and get it all sorted.

    Why mess around with leads that they have to close? Just give them them the business with no fuss.
     
  5. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Yes, for some verticals the businesses pay for the bookings/sales, not for the enquiries/leads (think booking.com, and uber).

    Lots of ways to skin this cat. Even this pricing page has lots of different options: www.weddingdates.ie/wedding-venue-advertising
     
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  6. DaRK9
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    DaRK9 Gold Contributor Read Millionaire Fastlane Speedway Pass

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    You can even scale this locally. Setup a pay-per booking option. Run your own SEM/SEO for more bookings. They don't need to know how you get them.

    I guess that's the concept I ended up with, never thought about it that way.
     
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  7. DamienP
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    DamienP Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    I've been considering this, but its market-dependent. No good for uber-specialist, but fine for more general stuff. Some verticals like legal, financial etc will pay per booked consultation, kind of a halfway house between the lead and the sale.
     
  8. SmoothFranko
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    SmoothFranko Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I think in the IT industry it would be difficult to use a booking system as you'd have to have it tie into an existing system that the businesses uses or even design one for them to use... just had an idea brb...
     
  9. SmoothFranko
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    SmoothFranko Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Had to check out IT job management systems, A booking system would be great for an IT business that regularly did onsite services so something to look at in the future have software that ties into my site that allows people to make an online booking.
     
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  10. SmoothFranko
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    SmoothFranko Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Alright after reading through the articles I came up with this based on those 3 principles


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  11. tafy
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    tafy Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Well you can take the booking and tell the company to contact the customer asap to arrange details. If there is any problems you can always refund the customer
     
  12. SmoothFranko
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    SmoothFranko Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I don't know why I didn't realise sooner but It only occured to me a few days ago that even though I'm not competing directly with IT businesses for services I am competing for web traffic. So today I launched an AdWord campaign.
    [​IMG]
    I currently have 5 ad groups running (hopfully) following @Andy Black 's AdWord advice.
    My Ad as it appears on Google.
    [​IMG]
     
  13. CoolAV8R
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    CoolAV8R Cleared For The Fastlane!

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    Hey Smooth...Are you running at least two ads per ad group?

    If I may ask, where are you sending traffic to?
     
  14. Andy Black
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    I'm not the only person saying this. Check out @MustImprove's post here.
     
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  15. Alex W.
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    How about a marketplace in which businesses bid for a list of high-converting leads?

    Just setup an auction site, and direct merchants to it.

    Post a list of "qualified leads" in a specific vertical, set a starting bid & let the auction begin.

    Of course it'd be pretty difficult to get going, as you're essentially creating a new market. You'd need a decent # of merchants participating for it to work. That said, I bet there are creative ways to attract merchants to such a site (free bids, new account credit, free leads, etc...)

    Hell, maybe even allow other lead-gen'ers (for lack of a better term) to post offers. Just act as an intermediary (and take a commission, of course).

    Surely this has been attempted before?

    If not... Andy, how 'bout a partnership ;)

    Just thinking aloud. Sorry if it's a derail.
     
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  16. Alex W.
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    Looking into both centralized & decentralized lead marketplaces now... not much out there.

    Found LeadPoint, which is a market that matches lead buyer/sellers. In reality, though, it looks a bit like list buying (they offer "core" and "value" leads, which are only recommended for buyers with experienced sales teams). Their "premium" leads are rare, according to their site.

    So... a market for only premium, high converting, leads could be well received (and command a premium price).

    I'll move this to another thread if I decide to pursue it any further.

    Good luck with your venture @SmoothFranko
     
  17. Ben Doyle
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    @SmoothFranko

    Are you running this on a Wordpress site?

    If so you can install a plugin called Contact Form DB (it's free!) this records all the contact form submissions which you can download as a CSV file so you can email that to your clients daily/twice daily.

    Easy as that really!

    Also, someone mentioned that selling the leads could be difficult, the easiest way to get around this is to give your leads away for FREE for 14/30 days. Then if a company is making money from those leads they will gladly pay you for them.
     
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  18. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Agreed.

    1) Free leads is an easy sell. Get them to provide feedback on the leads "so we can generate better leads for you". Use that info to learn more about the value of different types of leads you're driving.

    2) Move the needle. Then turn it off. If you were providing value then you'll find out soon enough.
     
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  19. Andy Black
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    Bump.

    A few recent threads talking about lead gen. Some good input in this thread.
     
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  20. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    It's always interesting because when people read the book they go "MJ made his money from Lead Gen" and they start thinking about ways to lead gen.

    There are so many great idea out there that don't factor in lead gen!
     
  21. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    True. I also think we're all in the lead gen business, and that the internet is just one big lead generation machine...
     
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  22. UncommonWay
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    UncommonWay Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    There are several online "gurus" who teach about lead gen. One of them bases his model on routing all leads through a call-forwarding service. When somebody calls the phone number on the lead gen landing page, his system automatically does a "round-robin" call routing in which the phone call is forwarded to one of several companies.

    Or, for faster service, his call tracking platform can ring several companies at the same time, and the one that picks up first gets the lead.

    He tracks how many leads each company gets, and bills them on a per-lead basis as long as the phone call meets some criteria such as minimum call length.

    If that model sounds like something you'd be interested in, I can post further details or you can PM me.

    Note: I don't have a vested interest in the guru I'm talking about. I've bought his lead gen courses and they're informative, but I don't want to spam the forum with his name or the service he promotes...just trying to add value here.
     
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  23. AdamMaxum
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    AdamMaxum a worthy successor indeed Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    What if you didn't charge for a lead... What if you charged for a confirmed customer/sale/purchase instead? That's where the bigger money is.
     
  24. Scot
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    That's essentially affiliate marketing
     
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