One of the most important decisions customers must confront when buying leads, in terms of economic viability of the purchase, is whether to buy Exclusive Leads or Multi Leads?
The difference between exclusive leads and multi leads is based on the number of businesses who eventually receive the same client details, as published by the online advertiser or marketer.
There is a common belief that is often a source of confusion for business owners, which argues that economically speaking, there is no point in purchasing multi leads that are also provided to other businesses. As a marketing consultant who specializes in trading and production of quality leads, I must point out that this approach is in most cases incorrect, or more precisely – at least partially incorrect – for various reasons as listed below:
Cognitive dissonance during the purchase: The absolute majority of customers still turn to more than one business for the purpose of resolving the cognitive dissonance created during purchase of the service or product, when the lead is purchased as an exclusive lead at a higher price.
Rational Sales: In many rational services such as loans, leasing and mortgages – in which the price of the product or service plays an important role in the decision to purchase or not – the acquisition of exclusive leads is not very important. When a customer decides to take out a loan, he typically prefers to work with the financial institution that is able to lend him the money in exchange for the lowest possible fees.
Emotional Sales: There are various fields of service where the sale is characterized as emotional. In such fields the purchase of exclusive leads is of utmost importance because the distinction between services relies on the quality of service and special care the customer receives from the marketer, and this, when there is no true difference between the service provided by competitors. Examples of emotional sales include nursing home placement services, mediation, and some areas of aesthetic medicine such as hair removal, where the solutions provided by other professionals do not differ much from one another.
Distinction in Marketing (Branding): The more unique you field of expertise in comparison to the competition, the wiser it is to purchase multi leads, and this because you are not really competing for your niche and there is therefore no point in buying exclusive leads which are much more expensive.
Level of Professionalism: The more professional the service rendered by a provide provider, the better that service is perceived by potential customers in terms of added value. In such cases the marketer may prefer to save money by purchasing multi leads, but only if he is certain that the service he provides is indeed superior to that of his competitors.
We now recommend you write down all the reasons For and Against the purchase of quality exclusive leads, map yourself and the service you provide in relation to the parameters detailed above, and finally ask yourself if it would be wiser to purchase more expensive exclusive leads or if the cheaper multi leads are sufficient for your purpose.