Archive for the ‘Selling Leads’ Category

The myth of lead generation

Tuesday, April 17th, 2012

The following article was written by Justin Rees for Best Advice. To read the original,
click here

There is a noticeable trend towards performance based marketing and lead generation sits at the forefront of this trend. So why is it that there is still some apprehension by many advisers to use lead generation as a major source of new business?

Suspicion of Cost Per Lead
Lead Generation as a form of marketing is often defined by the fact that lead buyers and lead sellers transact on a Cost Per Lead (CPL) basis. This may seem rather innocuous but for many advisers the very fact that they would have to pay on a per lead basis is the main cause for suspicion about buying leads. That somehow, lead generation stacks the deck against them. However, this is a misconception of what lead generation is and the reality couldn’t be further from the truth. If you look at the evolution of lead generation, much of the momentum to establish lead generation on a cost per lead basis has come from advertisers to ensure they get value for money and make their spend more accountable and performance related.

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What is Lead Quality?

Wednesday, August 10th, 2011

The following article was written by Justin Rees for Lead Marketing Network. To read the original, click here.

Lead quality is something that lead buyers and sellers talk a lot about without ever being able to agree on what it really is.  Whether you are buying media to generate leads or buying leads to generate sales, the metric of success is return on investment. As long as you meet your campaign objectives is there any need to discuss the more abstract concept of lead quality?

The answer to this question may be ‘no’ but even so we can all agree that high quality leads are preferable to low quality leads so there is definitely a case for further enquiry.

When tackling this issue, I like to divide “lead quality” into the two main constituent parts that contribute to achieving a return on investment from a lead generation campaign. The first part is the “contactability” of a lead or the propensity for a lead to be contactable by whatever method the advertiser chooses. The second part is the “convertability” of the lead which is the propensity for the lead to be “converted” into a piece of business.

Now obviously the two are directly related. If you can’t contact the consumer then you can’t convert the lead. Correspondingly, the more that can be done to ensure contact details are correct, the greater the opportunity to meet campaign objectives.

However, 100% contactable leads don’t necessarily mean any conversions. In theory a phone book is 100% contactable but it’s just a list of people that aren’t necessarily interested in your product. Leads where there is no consumer intent to purchase are no different to a phone book. The whole point of lead generation is to deliver consumers that have actively requested to be contacted about the product or service in question and often in real-time. The opportunity for advertisers is to make contact with the consumer while their interest level is at its greatest.

So ultimately, high quality leads are those with the highest propensity to be contacted but also to be sold to. If you get both of these right then you are more likely to hit campaign objectives and generate a healthy return on investment.

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Justin Rees: In the Spotlight

Wednesday, August 3rd, 2011

This article was published by Debt Management Today, click here to read the original.

1. Firstly, what exactly does LeadPoint do?

We are a lead trading platform, which means that we provide the technology to enable lead buyers and lead sellers increase their return on investment from lead generation. We are a multi vertical company so our lead buyers could be a national brand for mortgages or they could be a debt management broker. Lead buyers can create their lead generation campaigns in our system in just a few minutes to start receiving leads.

2. How long have you worked for LeadPoint and what did you do before?

I have worked at LeadPoint for four years. In my career to date I have always worked for start-up companies because I really enjoy working in a growing business. Before I joined LeadPoint I helped set up a private members classic and sports car club in the US. Like my job with LeadPoint, my previous job involved helping to build something from scratch. Whilst I’m not driving around in a Lamborghini at LeadPoint just yet, I hope that I’m going to get there at some point!

3. What do you predict happening in the debt management sector over the next 12 months?

From a lead perspective, I think that the debt market has changed a lot in the last few years. There has been a definite increase in regulation and scrutiny. You always hear stories about the OFT getting involved, or people or companies getting banned. This has led to a number of lead buyers and sellers leaving the market, because it has become quite expensive to generate a good quality lead. In the future, I think that there will be fewer number of high quality suppliers left and a smaller number of lead buyers who can afford to purchase leads and generate a decent return on investment.

4. Why do you think that lead generation companies are useful or important?

I think lead generation companies are important because, effectively, they allow advertisers to harness the power of online marketing without the need for any online marketing skills. For example, any lead buyer could in theory generate leads themselves on Google but they would have to pay for every click on their advert with no guarantee anybody would submit their information to be contacted. By purchasing leads you get straight to the people that want to be contacted.

5. How straightforward is the procedure?

The procedure is quite simple if you buy a lead compared to doing the marketing yourself. However, as much as the process is about buying leads, it is also about turning leads into business and ensuring that your business is set up in a way that you have the process in place to make sure you can contact every lead and also deal with things like consumer objections.

6. How do brokers benefit from telling their colleagues about your company?

There is a general perception that many lead buyers hold – that if they tell their colleagues that they are buying leads successfully this will somehow have an adverse effect on their campaigns. in fact, the reverse is often true. The more demand we have for leads, the easier it is for us to supply those leads. Brokers should encourage their colleagues to buy leads because that will help them get a better deal – they are more likely to get good leads themselves.

7.  Do you think more people are facing up to their financial problems?

This is a tricky one. I think that a lot of people probably have their head in the sand and want to ignore their financial situation. For example, there are still a lot of people without income insurance protection, and it is probably people in the worst state who aren’t facing up to their financial problems.

8. Do you expect the financial situation to improve in the coming months?

The general consensus seems to be that we will see another 12-18 months of stagnating growth, before hopefully seeing an improvement towards the end of 2012. However, within the economy, some sectors are thriving – marketing, technology sectors are booming.

9. What are the best and worst parts of your job?

The best thing about my job is probably the fact that we are such a fast growing company with some really good stuff happening. LeadPoint has got to the stage where we are leaders in our field.

Not necessarily the worst, but perhaps the most challenging aspect of the job is the fact that I have been at LeadPoint for four years now, but I often find that I am still having to explain things to lead buyers and sellers. Lead generation is very powerful, but it is not enough to just buy a lead, you do need to have processes in place to make the leads work – and I have to keep on telling people this.

10. Where do you get your leads from?

We have a range of suppliers generating leads predominantly through email, display and search.Through, email consumers receive emails about products and services and in the case of debt management would submit their details to be contacted about their debt problems. Through display and search consumers are clicking on adverts through to landing pages where they can submit their information to be contacted about the product.

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Join the Lead Generation Hub Group on LinkedIn

Monday, August 1st, 2011

We have decided it’s about time there was a space for anybody who’s interested in Lead Generation to network and share news and views, so we have created a lead generation “Hub” group on LinkedIn!

The group is open to anybody who takes an active interest in all types of UK lead generation including Premium, Incentivised and Co-registration.

All comments and discussions posted on this group will be moderation to prevent spamming and sales pitches as so often seen in LinkedIn groups and forums.

We aim to bring together the UK Lead Generation community to network and find mutually beneficial opportunities.

To join to the Lead Generation Hub Group on LinkedIn, click here.

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Google wants to help you with your finances

Thursday, June 16th, 2011

Check out the latest article by Justin Rees for Econsultancy. To read the original, click here.

After announcing the launch of Google Advisor in the US in May, is Google already planning to replicate the service in the UK?

About a month ago, Google announced in the US that it had officially entered the financial products comparison market with the launch of the imaginatively titled Google Advisor.

As noted in a post by this has traditionally been the preserve of Southern Californian startups but lead generation and specifically financial services lead generation has taken a pretty significant trip north up the Pacific Coast.

While the announcement only seemed to include the US, it seems that something similar has also arrived on this side of the Atlantic.

A quick search for “mortgage” or similar upper funnel mortgage keywords on Google UK reveals an interesting appearance on the results page.

Taking pride of place at the top of the paid results is a Google comparison ad for mortgage comparison, inviting the consumer to “Compare mortgage deals”. The ad placement is listed as a ‘Comparison Ad’.

Clicking through takes you to a branded lead generation style page with various lender details and consumers can enter their specific mortgage requirements to see what deals are on offer.

They then have the option to either call a Google number which will connect them to the specific lender of their choosing or request a call back which effectively creates a lead.

The service looks almost identical to Google Advisor in the US which is multi-product taking in savings accounts, current accounts and the hugely lucrative credit cards market.

We shouldn’t really be surprised by this move, after all Google did pay almost £40m for in March this year so they are obviously looking very seriously at the UK personal finance market.

Only time will tell how successful this service will be and what other products will be arriving in the UK. It will also be interesting to see how many of the direct marketers that spend millions of pounds each year generating financial services leads through Google react to this latest development.

Whatever happens, it is going to be an interesting year for online financial services lead generation.

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