5 Proven Tactics to Improve Your Lead Quality by salesguru

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									5 Proven Tactics To Improve Your Lead Quality
Presented by:

Dave Wengel General Manager of Interactive Markets, TARGUSinfo
September, 2007

Lead Quality vs. Quantity
Online Lead Generation is the fastest growing segment of the online advertising industry according to the IAB The meteoric rise of online lead generation has been tempered by quality issues in the past A shift towards quality in 2006:
IAB creates the Lead Quality Taskforce Rise of companies providing quality focused solutions
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Data verification, lead management platforms, warm transfer, etc.

Online Lead Quality Summit held this past September

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How can you improve your lead quality?
Five key tactics to improve lead quality:
Leverage inexpensive data standardization filters when appropriate Apply advanced data verification techniques when appropriate Utilize a Lead Management Platform Set expectations when entering into a new relationship Stand by your expectations!

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Tactic #1: Put data through basic filters
Leverage inexpensive data standardization filters when appropriate:
USPS address standardization Compare NPA/NXX (703-272-xxxx) First/last name filters

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Tactic #1: Put data through basic filters (cont.)
Upside
Removes “embarrassing” leads Inexpensive to process leads through Best suited for high volume lead buyers/sellers

Downside
High probability that you will reject good leads As a result, do not use this alone on high dollar leads
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For example: education client

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Tactic #2: Put Data Through Advanced Filters
Apply advanced data verification techniques when appropriate:
Make sure that the name, address and phone of a lead can be tied together Confirm that phone is connected Solution should give you an ‘accept’ or ‘reject’ recommendation in sub-second time

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Tactic #2: Put Data Through Advanced Filters (cont.) Upside
Fast and accurate — both critical when competing for high value customers Provides both lead buyers and sellers with an “audit” to prove quality of lead “Must have” solution for those in the financial, education, automotive, and health verticals

Downside
If your verification solution does not have good data coverage then you will likely reject good leads Premium verification may be cost prohibitive for offers that sell for less than $1, but other solutions are typically available

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Tactic #3: Utilize a Lead Management Platform
Lead buyers should use some type of lead management platform to track conversions from each of their lead brokers Companies like Cole & Weber, Kaleidico, Leads 360 and others offer robust solutions

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Tactic #3: Utilize a Lead Management Platform
Upside
Allows you to see performance across all of your providers Factor in cost per lead vs. conversions Central hub where lead verification can be used

Downside
It’s not free Deeper level of integration

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Tactic #4: Set Expectations When Entering Into A New Relationship The most IMPORTANT tactic
“Two-Way Street” (Dave Behn)

Upside
Both parties know what type of leads are being bought and sold Both sides agree how to define a “bad lead” and how to treat them Relationship flourishes

Downside
There is no downside!

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Tactic #5: Stand By Those Expectations!
Nothing corrodes a new relationship faster than falling short on this Upside
As expectations are met and surpassed, the relationship grows stronger and paves the way for additional opportunities

Downside
There is no downside!

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Buyer Beware: Setting Expectations
Why do people need these tactics in the first place?
Lack of standardization Whose responsibility is lead quality?

Requirements of a lead generation program
Lead management partner Metrics and values Media contracts Reporting

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Choosing a Lead Management Platform
What type of partner do you need?
Full-service partner or do-it-yourself tool Brand protection Level of involvement Conflict of interest Level of integration (arm’s length or full) Compensation and affordability

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Metrics and Values
Are you able to monetize the value of a lead?
Map out the purchase path and identify conversion rates for each step
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Magazine subscription example: leads, product trials, initial purchase, repeat purchase, product referrals

What information do you require for the initial lead
Greater detail, especially “roadblocks” such as credit card or sensitive PII, leads to higher lead value/cost

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Media Contracts
Lead buyers must establish their own contractual standards
Valid lead: actionable data is the CPL publishers’ responsibility (“lemon law”)
• •

Validation filters (basic and advanced) Verification: data (TARGUS), phone Exclusive or cross-sell Two-way street: buyer has responsibility to provide meaningful data back to publisher Crack the nut of feedback versus confidentiality

Lead ownership
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Data feedback
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Reporting
What are you measuring
Lead traffic: good/bad volume, publisher performance, forecasts, cost Lead performance: disposition, conversion, sales, lifetime value

What do you do with it
Optimize plan Score and prioritize leads

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The Five Tactics To Remember!
1.

2.

3.

4. 5.

Leverage inexpensive data standardization when appropriate Apply more sophisticated data verification methods when appropriate Utilize a lead quality management platform to track conversions Set expectations when entering into new relationships Stand by those expectations!

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What questions can we answer?

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