Connecting Agents With Hard to Reach Internet Leads:
Learn the most effective strategies to reduce the amount of leads you are unable to contact . Understand when not to give up and how to dedicate the appropriate level of effort to leads based on their likelihood to convert.
Andrew Coleman Co-Founder, LeadQual
Best Practices
First to have a “conversation” wins.
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ONLINE LEAD QUALITY SUMMIT
B2C Stats (Real Estate)
User Stats
Consumers visit 5 sites on average Consumers complete 3 forms on average Lead data is syndicated ????? times Users are demanding instant response
Conversion Stats
Consumer picks the first agent they talk to 78% of the time (California Association of Realtors)
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ONLINE LEAD QUALITY SUMMIT
B2B Stats
B2B Lead Management Statistics*
56% of all Internet leads are never responded to 90% of responses occur more than 24 hours after the time of inquiry This leaves only 5.6% of all Internet lead responses within 24 hours (56% x 10%)
Close rates were found to be 3 times higher with mature lead management processes* LeadQual’s experience has shown Contact rates can double when you call clients within an hour of their lead submission
*Information extracted from Forrester Research’s How Mature is B2B Lead Management, November 30, 2006
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ONLINE LEAD QUALITY SUMMIT
Data Sample of 5 Debt Lead Providers
Lead Lead Lead Lead Lead Provider 1 Provider 2 Provider 3 Provider 4 Provider 5 Grand Total % Bad Phone 11% 6% 5% 8% 11% 9% % Unable to Contact 37% 19% 25% 33% 25% 30% % Contacted 63% 81% 75% 67% 75% 70% % Qualified 37% 19% 25% 33% 25% 30% % Qualified of Contacted 58% 24% 33% 50% 34% 43%
There is (almost) no such thing as a bad lead, only a bad price.
Source: LeadQual data all time
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ONLINE LEAD QUALITY SUMMIT
Correlation Between Contact and Qualified Rate
Correlation between Contact Rates and Qualified Rates
85% 80% 75% 70% 65% 60% 1 2 3 % Contacted 4 % Qualified 5 40% 35% 30% 25% 20% 15%
No correlation, so even if you talk to the consumer, they may not be a qualified lead.
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ONLINE LEAD QUALITY SUMMIT
Contacting Consumer
Different Approaches
Sales agents waiting in front of their computer Lead routing to mobile devices of sales agents Click to call Call center
• •
In-source (Flippers) Out-source
– Live Transfer – don’t appointment set
Don’t push unqualified leads to high priced sales forces. Let them do what they do best, sell.
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ONLINE LEAD QUALITY SUMMIT
Contacting Consumers – When to Quit?
3 minutes
90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1st Call 2nd Call
Qualified by Call Attempt
6 hours
w/in 24 hours
3rd Call B2C
4th Call B2B
5th Call
6th Call
1st Call
2nd Call
3rd Call
4th Call
5th Call
6th Call
B2C B2B
76% 73%
10% 11%
7% 5%
3% 3%
2% 2%
2% 2%
Source: LeadQual data August 2007
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ONLINE LEAD QUALITY SUMMIT
Are Leads Submitted Off-Hours Worse?
Qualfied as Compared to Average 9am - 8:59pm 109% 9pm - 8:59am 81%
Is this due to poorer quality leads, or because we are not calling them real-time?
Source: LeadQual data August 2007
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ONLINE LEAD QUALITY SUMMIT
Agents Burn Factor
Sales Associates Conversion Over Time
100 90 80 70 60 50 40 30 20 10 0 1 2 3 4 5 6 7 8 9
Agents start off strong and then conversion suffers as they get busy. Cherry picking occurs which leads to a downward spiral.
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ONLINE LEAD QUALITY SUMMIT
Agent Quartile Analysis
Sales Associate's Quartile 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile
Relative Conversion 300% 100% 0% 0%
Agents with repeatable processes significantly outperform those that don’t.
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ONLINE LEAD QUALITY SUMMIT
So I can be invited back…
Invalid Phone Rates
30% 25% 20% 15% 10% 5% 0%
Targus Verified
Not Targus Verified
Source: LeadQual processed leads in real estate vertical from August 1 to 29
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Contact Information
Andrew Coleman
andrew@leadqual.com 203.644.1310
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ONLINE LEAD QUALITY SUMMIT