The global solar power market is projected to grow $373.84 billion at a CAGR of 6.9% in the 2022-2029 forecast period. If you provide solar solutions then you have penetrated an extremely rewarding industry.
However, the higher profit potential is proportionate to aggressive competition. If you want an extra edge over your competitors, you can buy solar leads.
But the question is that how to buy solar leads? How to know that these are the quality solar leads?
Learn everything about it and take the right step towards your business growth!
Key Takeaways
No matter how big or small your solar company is, all share one common goal i.e. gain more customers, make profits, and be the top brand. Being in a highly competitive industry challenges you in every step of accomplishing this goal.
As associated profit margins are acute in this market, several solar companies are investing in attracting solar leads to expand their customer base. If you buy solar leads you can get an extra edge over your competition as you will be the first one to reach people who are seeking PV installation.
Whether you are planning to buy solar leads to keep your sales funnel charged with prospects, or just giving it a thought, you should learn in and out of this concept before moving forward with your purchase decision.
This post outlines the advantages of buying solar leads, how to choose the best lead company, how to make the purchase, and the cost per lead in different states of America.
Table of Contents
Is It Advantageous to Buy Solar Leads?
As the demand for solar panel installation is getting stronger, many entrepreneurs have entered this industry to earn their profit share by offering solar solutions.
Due to several associated benefits with green energy and the availability of tax credits, solar incentives, and different solar financing options, panel installation has become comparatively more affordable than in earlier years.
The question is, if the demand for solar power is high, how to find these qualified leads? As solar lead generation is a challenging task, some solar companies use inbound and outbound marketing methods to generate leads, while others buy solar leads to grow their business quickly with minimal effort.
Here is the list of benefits that come with buying solar leads.
Get Leads Quickly
One of the biggest advantages of buying solar leads is that you will get access to lead info the moment you purchase it. Many businesses consider Google Ads and other paid Ads to be the best lead generation methods but you face challenges such as the volume of keywords, landing pages that have the potential to increase conversion, etc.
Here, when you buy solar leads, you step out of all the aggressive activities, get lead info right away, and straightly move to the nurturing part.
Consistent Flow of Leads
Most lead providers have a huge list of solar leads generated from numerous channels. Once you partner with them, they keep filling your sales pipeline with prospects. This ensures that you get a consistent stream of solar leads which ultimately increases your rate of conversion.
Easy Measurement of ROI
When you buy solar leads, calculating ROI (return on investment) becomes extremely easy for your business. Following inbound and outbound marketing strategies drives outcomes but takes a lot of time to show expected results. These methods make it increasingly difficult to calculate ROI.
On the other hand, when you buy solar leads, you can follow a simple formula. Divide the cost of solar leads for a specific timeframe from revenue generated from solar leads within the same period. Now, deduct the figure from other costs (both hard and soft expenses) you bear during the same time. The amount you get is your total ROI.
Flexible Deliverability
Buying solar leads offers great flexibility in delivery. Whether you want the solar lead’s information via email or call, it is directly forwarded to you the moment you purchase it. You can choose any type of solar lead such as exclusive, non-exclusive, quality, shared, aged, etc. You can choose the lead type matching to your budget and business requirements.
Boost in Sales
The key objective of buying solar leads is to reach new prospects, convert them into paying customers, and increase your solar sales. When you get quick access to leads who are interested in solar panel installation, you can contact them, design effective solar proposals, impress them, and convert them into your customers.
How to Buy Solar Leads For Your Business?
Buying solar leads is one of the most effective methods to keep their sales funnel charged with prospects. Whether you are launching a new campaign, filling your sales funnel, or want to grow your solar business faster, if you buy solar leads from the right company, it surely drives results.
However, lead purchase is challenging, especially for new starters in the solar industry but you can follow the below-mentioned tips to get the most out of your investment.
Plan a Budget
Before buying leads for solar, you need to prepare a budget because you are required to keep a practical outlook. You cannot expect doubled sales figures after investing a hundred dollars in lead purchases. Therefore, it is recommended neither to purchase the most expensive solar leads nor the cheapest ones.
Work out a budget, and come up with a figure that you can spend to buy solar leads. You can start with a comfortable budget that is manageable for your business.
Choose The Right Partner
Choosing the right partner is one of the most vital steps in buying solar leads as the success or failure of your investment depends on it. You need to do detailed research and come up with a name that has experience, credibility, and expertise in this unique industry. Solar lead providers know who your customers are and can greatly help you increase your sales conversion rate.
It is vital to choose solar leads providers responsibly if you don’t want to risk your money. Here are the three essential qualities of a credible lead providing company.
Provides Guidance for Conversion
A reliable solar lead provider not only sells lead information but also guides their customers to generate leads. They guide you throughout the sales process to ensure conversion success.
Transparent Lead Acquisition Contract
The trustworthiness of a solar lead provider depends on how clear and transparent they put things in front of their customers. There should be clear documentation on the lead acquisition process to prevent sour situations like the company’s failure to deliver results even after paying for the leads list.
Many lead generation agencies offer refund options instead of putting all things clearly in the contract. Such collaborations can risk your money and fail to deliver the expected results.
Real and Positive Testimonials
Testimonials of former clients are one of the most effective and accessible methods to learn the credibility and expertise of the solar lead generation company. Either you can go through the reviews posted on different platforms or request names of clients they are currently working with to gauge their expertise.
Exclusivity and Quality are Vital
Other than cost per lead and response rates, quality is another major factor to consider when buying solar leads. High-quality leads are worth more money and time and are often more affordable. As far as exclusive leads are concerned, they can be more expensive but have higher chances of conversion as their info is shared with you only.
Many companies opt for shared solar leads as they are more affordable. However, the chances of conversion in shared leads are less because they are shared with other solar companies as well. So, whenever you buy solar leads, their exclusivity and quality are vital to gain more conversion.
Scrubbed and Verified Leads
The term ‘scrubbed and verified leads’ means leads who are thoroughly verified and screened for accuracy. If the lead provider says that the list is ‘scrubbed and verified’ you can quickly test a few before putting your money to determine the credibility of the company and the information shared.
You can get in touch with a few leads mentioned in the list to understand whether these solar leads have a genuine interest in panel installation or not before purchasing the entire list.
What is the Cost of Solar Leads?
The cost of solar leads highly depends on the competitiveness of your location. For example, California is considered among the most competitive market for solar where the lead cost can go up to $1929. Whereas, in emerging solar markets such as Texas, Colorado, Florida, etc. solar leads cost range between $557 to $800.
The below table will give you a rough idea of the solar lead cost along with the average conversion in different states of the US.
| State | Average Lead Cost Per Sale | Average Conversion (in percentage) |
|---|---|---|
| Arizona | $450 | 4% |
| Arkansas | $613 | 8% |
| Alaska | $450 | 4% |
| Connecticut | $1,286 | 7% |
| Colorado | $557 | 7% |
| California | $1929 | 7% |
| Delaware | $357 | 7% |
| DC (District of Columbia) | $900 | 10% |
| Georgia | $483 | 6% |
| Florida | $488 | 8% |
| Hawai | $563 | 8% |
| Idaho | $360 | 5% |
| Illinois | $360 | 5% |
| Indiana | $360 | 5% |
| Iowa | $360 | 5% |
| Kentucky | $360 | 5% |
| Kansas | $360 | 5% |
| Los Angeles | $360 | 5% |
| Maine | $360 | 5% |
| Maryland | $1333 | 7% |
| Michigan | $360 | 5% |
| Massachusetts | $1400 | 4% |
| Minnesota | $650 | 6% |
| Mississippi | $450 | 5% |
| Missouri | $450 | 5% |
| Montana | $450 | 4% |
| Nebraksa | $450 | 4% |
| New Jersey | $1400 | 7% |
| Nevada | $483 | 6% |
| New Hampshire | $557 | 7% |
| New York | $1357 | 7% |
| New Mexico | $557 | 7% |
| North Carolina | $363 | 8% |
| North Dakota | $225 | 8% |
| Oklahoma | $360 | 5% |
| Ohio | $300 | 6% |
| Orlando | $414 | 7% |
| Pennsylvania | $360 | 5% |
| Puerto Rico | $483 | 6% |
| Rhode Island | $656 | 9% |
| South Dakota | $450 | 4% |
| South Carolina | $613 | 8% |
| Texas | $557 | 7% |
| Tennessee | $483 | 6% |
| Utah | $700 | 7% |
| Virgina | $360 | 5% |
| Vermont | $483 | 6% |
| Washington | $483 | 6% |
| Wisconsin | $450 | 4% |
| West Virginia | $450 | 4% |
| Wyoming | $450 | 4% |
Frequently Asked Questions About Buying Solar Leads
How much does a solar lead cost?
Although the exact cost per solar lead depends on the number of leads, their quality, and the location, you can expect to pay between $20 to $200 per lead.
How to get solar leads for free?
There is no way to get solar leads for free. The sole method to gain free solar leads is by reading customer reviews on different platforms and portals.
How much is the actual lead cost in the solar industry?
The actual lead cost in the solar industry depends on the quality, quantity, location, and source.
How to buy solar leads?
You need to shortlist a few solar lead providers in the market after thorough research. Once you are confident about a brand, you can contact them via mail, filing forms, chat, call, etc., and show your interest directly. You can also share the number and type of solar leads you are interested in purchasing.
What is the cost per new lead?
The cost per lead or CPL is the amount of money that is invested to generate new leads in a sales campaign.
Concluding Thoughts on Buying Solar Leads
By now, you must have understood how to buy solar leads, its advantages, and the cost of average per lead in different states.
Once you have the list of solar leads, make sure you put efforts into converting and filtering out them to get more conversions. You can make adjustments in your sales script based on how they were captured. Here, you can get help from your lead provider to understand the first point of contact, it can be a website form, chat, or anything else.
Even if the sale doesn’t happen, keep retargeting and always follow-up to nurture the leads.
Lastly, consider buying solar leads as an investment for your business that gives you an edge over the growing competition.
