What is Lead monetization?
To be able to talk about lead monetization you first need to have leads collected/generated. If you still don’t know how to do it successfully, take a look at our previous blog in which we’ve explained the lead generation process and some tips on how to be good at it.
Now, monetization, in general, means converting non-monetary assets into money. A lead represents a person who is potentially interested in purchasing your product or services and gives you, therefore, his contact information. Your job now is to make money from that information in any way that you deem fits your business. But, have in mind that, the more leads/subscribers you have, the more money you will be able to produce. And that’s our goal today!
Want to find out what the best ways are to monetize your leads? Keep reading and you’ll find out.
The ways to monetize leads
1. When sending a newsletter, occasionally send an email containing offers for products and services of other companies
Start cooperating with businesses related to yours, offer them space in your newsletter and make your leads their potential buyers. Proposing their product to your leads cost money so there’s your way to monetize. Just make sure your new partners have good reviews because you don’t want your leads, with whom you’ve built a relationship, to unsubscribe now.
2. Place a sponsors ad on your blog post or a newsletter
Every blog post and newsletter leaves you enough room to advertise. Place one or two advertisements and there’s your second way to monetize. This way is practically a ‘win-win’ because you promote your business as usual but you also give your leads a chance to check out your sponsors offers.
3. CPA affiliate networks
This is a good way to make money from leads who still haven’t bought anything from you. Offer something free of charge, such as free promotions – books, courses, etc… Get your leads to fill out a free trial and make a profit out of them.
These 3 ways are sure to work for you, but you need to put in a little effort. You need to find a company that wants to advertise, you need to find partners and sponsors. But if you follow our guide when it comes to generating leads, there’s no reason why anyone wouldn’t like to work with you. In fact, partners in lead generations are what big companies need to expand their business. Keep in mind to reach out to companies that have similar business to yours but are NOT competition. Also, think about partnering up with companies who offer something that will make your leads buy their products but at the same time your products as well. For example if you are selling mobile phone cases, your partner might be a company that sells phones. So if your leads decide to buy a new phone, it is likely that they are going to have a need and a desire for a new phone case as well.