The global solar energy market is expected to reach $373.84 billion by 2029 – an impressive CAGR of 6.9% – with massive prospects for those generating solar installation leads for their business.
However, as the demand for solar panel installation is gaining momentum, one question arises: should you prioritize the quantity or quality of your solar leads? Is it better to generate lower-intent leads and convert some of them, or should you focus on the quality of your future customers?
The answer is just below. Before we dig into it, though, let’s learn more about solar installation lead generation and why you need it.
Solar Lead Generation – Key Business Success
The main objective of lead generation for solar is to acquire leads into sales prospects into customers and – should the best-case scenario play out – into brand advocates. It’s hardly possible to get ready-to-purchase customers at once, so you will have to nurture your leads (and then qualified solar leads) as they interact with you across touchpoints.
Among the benefits of a well-thought-out solar lead generation strategy are increased conversion rates, budget optimization, boosting brand awareness and reputation, and building long-term relationships with solar leads.
Types of Solar Installation Leads
Solar installation leads vary depending on their readiness to make a purchase
Here’s the basic solar installation leads classification:
- Based on the level of interest in the product:
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- Targeted leads, who have a specific problem your product can solve.
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- Non-targeted leads, who may have left their contact information by mistake or misunderstanding.
- Based on the readiness to make a purchase:
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- Cold leads, who are not ready to make a purchase and have limited knowledge of the product (but they are gathering information about it).
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- Warm leads, who have some purchase intent but have not made a final decision. Warm solar installation leads typically visit the company’s website or social media and weigh the pros and cons.
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- Hot leads, who have made a firm purchase decision. They may need a final consultation or profound information about the product.
Now, to understand what is more important, quantity or quality of leads, let’s take a closer look at each of the criteria.
Solar Installation Leads: Quantitative Analysis
A quantitative approach to solar lead generation aims to generate numerous leads through various marketing channels and tactics, focusing on reaching a wide range of interested buyers.
Many leads can increase the top of the sales funnel but do not always result in a proportional increase in ROI because many of them may not really be interested in the product. Nonetheless, a mass flow of commercial solar leads can help build brand awareness, grow your database, and potentially increase conversions, especially if the sales team can effectively nurture and qualify them over time.
But then again, the main problem is that the quantitative approach may lead to resource overload in terms of the time and effort required for screening and qualifying a large number of solar installation leads.
Solar Installation Leads: Qualitative Analysis
It goes without saying that quality solar leads are always a priority for solar panel lead generation because they are more likely to become buyers. The quantitative approach emphasizes targeting the target audience based on demographics, behavior, and purchase intentions.
Qualified solar leads have every chance to grow your ROI because you focus your resources and efforts on those who are more likely to become your customers. A higher percentage of quality solar installation almost always results in higher conversion rates. Likewise, you can optimize your sales and marketing team, ensuring efficient allocation of resources and a shorter sales cycle.
In addition, if you generate solar leads of high quality, you will be able to increase customer satisfaction and retention. In the long run, high-quality leads can be more valuable and earn you more in recurring purchases.
So What Is on Top, Quantity or Quality of Solar Leads?
Both the quantity and quality of solar leads online are fundamental factors in an effective marketing strategy and directly impact the return on investment and overall business success. Therefore, when you generate or decide to buy solar leads, it’s essential not to consider them separately, trying to find the perfect balance between the efforts you put into generating leads and their conversion potential.
How Do You Find the Balance Between Solar Leads Quantity and Quality?
Striking a balance between quality and quantity is a dream when generating solar leads, as it allows you to attract a sufficient number of potential customers while maximizing the conversion rate.
Below is a guide on how to get solar leads online.
Create the Ideal Customer Profile
Start by developing clear and detailed profiles of your ideal customer. Study their demographics, behavior, and purchasing intentions to ensure your efforts are focused on consumers who are more likely to show interest in solar panels.
Segment Your Solar Installation Leads
Divide your audience based on their characteristics and behavior. This will allow you to adapt marketing strategies to different groups of leads for solar panels, optimizing their quality and quantity.
Implement a Scoring System
Introduce a scoring system to determine the quality of solar installation leads. Assign scores based on factors like engagement, demographics, and purchasing intention. Focus your resources on those with the highest scores.
Automate Solar Leads Qualification Efforts
Use marketing automation tools to pre-assess potential customers based on predefined criteria. This will help you filter out low-quality solar leads and ensure you draw leads who are more likely to convert into customers.
Use Lead Nurturing Strategy
Develop a lead nurturing program to retain lower-quality solar installation leads over an extended period. Regular communication and valuable content can gradually grow their intent and quality.
Set Clear Goals and Metrics
Establish specific goals for both the quantity and quality of leads. Use the standard KPI to track your performance: conversion rate, cost per acquisition, ROI, etc.
Create Feedback Between Sales and Marketing Departments
Establish communication between marketing and sales departments to effectively assess the quality of solar panel leads. Regularly review and refine the criteria for evaluating and qualifying potential customers based on the results and feedback from both teams.
Reuse Free Solar Leads in the Sales Funnel
Don’t dismiss free residential solar leads that don’t meet your quality criteria. Instead, place them in a recycling program to grow their quality or at least categorize leads according to why they choose not to move further down the funnel. For example, consumers interested in a product that is not available now will likely be easy to re-engage once the product appears in stock.
Analyze and Optimize Your Strategy Regularly
Constantly analyze your efforts to attract solar sales leads, specifically the effectiveness of different traffic channels. This will allow you to refine your strategy and ensure you meet your quality and quantity goals.
Implement a Variety of Lead Generation Tactics
Without a doubt, each type of solar installation leads needs a different marketing approach. Some may need a slight sales push, whereas some might love to take the decisions themselves after careful consideration of all the pros and cons of your solar panels. Anyway, make sure to leverage both outbound and inbound lead generation strategies to have more customer streams.
Buy Quality Solar Leads from Profitise
As powerful as your earned media and organic traffic channels might be, you can also buy solar leads. And why not? These people will love your product, and many of them will convert.
Profitise offers ready-made solar leads for sale from top solar lead generation companies. Buyers can contact sellers to inquire about solar leads pricing or specific features of residential solar leads, and much more.
Are you a marketer for a solar installation business aiming to generate leads? Register with Profitise to buy or sell qualified solar installation leads as an affiliate or advertiser.
Frequently Asked Questions
How much do solar leads cost?
Costs will vary depending on factors like the quality/quantity of leads, their source, exclusivity, etc. The average cost for solar installation leads ranges from $20 to $200 per lead.
How to get more solar leads?
There are two most common ways to get more solar leads: you can buy solar installation leads or generate them yourself. If you’ve decided to buy solar leads, register with Profitise to get quality leads from the best solar lead generation companies.
Why do solar installers need solar lead generation companies?
Solar lead companies simplify lead acquisition for companies unwilling to invest in earned media or those combining organic and paid lead generation strategies.
A solar leads company identifies and qualifies potential buyers interested in solar energy solutions. By using their services, you save time and resources on figuring out how to get leads for solar.
Why is buying solar leads great for business growth?
Buying solar leads online is a way to ensure a constant influx of potential customers who have already shown interest in solar energy solutions. This approach allows businesses to focus on converting leads into buyers while expanding their solar leads list to re-engage bounced leads.
Are energy lead generation companies worth it?
Energy lead generation companies are absolutely worth it if you’re dealing with a reliable lead provider. Buying solar leads is the best way to effortlessly acquire sales prospects who are likely to convert into actual buyers.
