Archive for the ‘Working Leads’ Category

Take advantage of the New Year

Tuesday, January 17th, 2012

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

The New Year is a timely opportunity for consumers across the UK to start thinking about their financial situation, as well as securing their own and their family’s future.
Whether that’s by renewing their life insurance policy or by getting a loan to pay off their Christmas debts!

As a result lead volumes naturally peak in January as more consumers set about planning for the year ahead. Many buyers also report a boost in conversion rates, as consumers are more serious about sorting out their finances as quickly as possible.

With this in mind, January is a great time to pick up high quality leads at competitive prices.

But before you go ahead and fire up your campaigns, why not take a few moments to make sure that before you purchase your first lead you have everything in place to maximise conversions.

Remember, a lead is a consumer that has expressed a specific interest in your product.
(more…)

No Comments »

20 lead generation tips: part two

Wednesday, November 2nd, 2011

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

I was recently invited to speak on a panel about lead generation which covered everything from the state of the current market, the issues faced by lead buyers and sellers and a sneak peak into what the future holds for the fledgling UK industry.

As part of the panel we were tasked to come up with a series of lead generation tips for the audience and myself, Andy Purbrick from Dennis Publishing and Sean Sewell from Performance Horizon Group put our heads together to come up with a top 20.

Last week we covered the first 10 lead generation tips, and this week we bring you tips 11 to 20.

11. Follow up as soon as possible

In the world of online lead generation it is minutes that make the difference and not hours!

A study in the US by InsideSales.com found that the odds of contacting a lead increase by 100 times if attempted within five minutes versus 30 minutes. And the odds of qualifying a lead increase by 21 times if attempted within five minutes versus 30 minutes.

Moral of the story: the quicker the response, the better the lead performance.

12. Tracking of leads to conversion

The receipt of leads is never the objective of an OLG campaign. Ultimately, it’s all about conversion whether that’s today, tomorrow or two years into the future.

What this means is that you need to have the software to measure the entire journey from lead to sale no matter how long it takes and no matter how many steps involved in the process. If you can’t track leads from all the way to conversion then you are potentially wasting your money.

13. Measure results over an adequate time period

It’s not just about having the software, but making sure you are looking at the correct time period by which to measure the results of a campaign.

Even a high value finance campaign where leads are processed in a call centre and the majority of sales will happen in the first few days of lead receipt there are still incremental sales to be gained over time so the same campaign measured over different time frames can give you a very different outcome.

Week one might break even but by week five you may be into profit.

14. Nurture leads for incremental sales

While it is absolutely imperative to follow up every lead within minutes there is plenty of value to be extracted over time from lead nurturing techniques to manage your prospect list.

Remember, the consumer might be at various stages of the buying cycle when they fill in the lead form so, even if they are interested when you first make contact, they might not be in a position right now to hand over their credit card details.

This is especially true for certain products, for example mortgages, where you rely on so many more factors than just the consumer’s purchase intent. If you can nurture leads over time then your campaigns will be much more successful.

15. Have a solid campaign objective

Just like any marketing campaign, you need a clear objective before you start spending any money.

Without objectives you have nothing to aim at and no way to benchmark success. Also, communicate these objectives to your lead suppliers as they will be able to give you a realistic idea of whether the objectives are reasonable.

This will allow you to fine tune your campaign in advance rather than after the leads have been delivered when you have no way to affect the outcome of the campaign.

16. Lead = multiple opportunities

Every lead should be seen as multiple revenue opportunities whether it’s cross-selling into multiple products, repeat sales or further monetisation opportunities in the future.

All revenue generated from each lead either directly or indirectly should be measured and attributed back to the original source.

It might be that two campaigns perform the same on a like-for-like basis but if one campaign offers far more additional revenue opportunities this might be the one to allocate more budget to.

17. Allocate an appropriate budget

Lead generation is a numbers game but you need to make sure you have a large enough sample to see those numbers play out.

If a campaign has a CPL of £50 then you need to make sure your budget is large enough to get a big enough sample of leads or other variables will have a greater weight in the outcome of the campaign and you won’t get a true reflection of lead performance.

18. Make sure that the method of data capture is appropriate for the campaign

If you are looking to collect high value finance leads to put through a call centre then don’t buy incentivised co-registration leads. However, if you are looking to build a prospect list as quickly as possible at low cost then perhaps you would want to consider incentivised traffic.

Each campaign should be judged on its own merits and the objectives of the campaign should shape everything from your budget to the method of origination.

19. Cheaper leads aren’t always better

It is human nature to want more of something so naturally a lead buyer with a fixed budget confronted with the option of buying thousands of leads or hundreds of leads will more often than not opt for the cheaper leads because they get more of them.

However, lead buyers should not be fooled by lead price. To generate good quality leads can be quite expensive so if the supplier gets a fair payout for their efforts they can spend the budget on premium inventory and generate better quality leads.

20. Volume is not an objective

I often get emails from advertisers and agencies with briefs for lead generation campaigns along the following lines “We need 1,000 leads for ‘x’, can you deliver?”.

All leads are not created equally and 1,000 leads from one supplier might be totally different in origination method and quality to another. It is better to get one lead that converts into a sale than 1m leads that don’t generate any revenue!

No Comments »

Don’t let leads dry up in summer sunshine

Tuesday, July 12th, 2011

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

Summer has arrived and while many people’s attention will be on their holidays there are still plenty of opportunities for business.

Looking at trends over the last few years, lead volumes do dip in the summer months across many financial services products but as online marketers become sophisticated at targeting consumers, hundreds of thousands of leads are still being generated.

Most leads are still generated in one of three ways through consumers searching for a product online usually via Google, responding to a display advertisement such as a banner, or receiving an email about a product and then filling in a lead form to be contacted.

In the summer months marketers adjust the mix of how they spend their media budgets to maintain lead supply when consumer behaviour changes.

For example, looking at a popular lead like life insurance, fewer people will be searching on Google to explore their options over the summer but thousands of consumers will still be receptive to email marketing about such products.

With the right marketing messaging and call to action, it is still possible to generate a good supply of quality leads throughout the summer months.

Interestingly, the feedback from many advisers is that lead quality is often higher in the summer as with fewer consumers filling in lead forms, the ones who do tend to be more engaged and ready to do business.

No Comments »

Is my lead generation campaign a success?

Thursday, July 7th, 2011

This article was written by Justin Rees for MyIntroducer. To read the original, click here.

Every company that use lead generation to source new business will be different.

Some businesses will be big national brands that use call centres and churn out hundreds of sales a week. Others may be sole practitioners completing a handful of cases a month. Lead generation can work for both these types of companies and all of the ones in between.

However, each company will require different things from lead generation.

Before undertaking any lead generation campaign, the most important thing to do is define what success and failure is for your own business. Do you know your average commissions from a sale? Do you know your customer acquisition targets?

Do you know what percentage of business you can upsell into other products? If the answer to some or all of these questions is “no” then you probably should work out these metrics before you start buying leads.

With the online behaviour of consumers changing by the month and the uncertain world economic conditions, measuring lead generation purely by conversion percentages is rapidly becoming a thing of the past.

If you have a budget of £1,000 to spend on a lead generation campaign, you should first work out what return you need from this budget to make it worthwhile and then do some basic financial modelling to work out various scenarios.

These scenarios should enable you to analyse what your return will be given different conversion rates, lead prices, upsells etc. Once you have done this you will be in a much better position to make lead generation work for you.

If you work out all the variables that will impact on your return on investment then you can change things to constantly improve performance until you hit your targets.

The companies that know their own businesses inside and out are usually best placed to make lead generation work for them and if they can achieve success in a tough market, when things do pick up they will have a huge advantage.

No Comments »

Out of office?

Thursday, June 9th, 2011

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

One thing we are always telling our lead buyers is that the quicker you contact a lead, the more likely it is to convert into business.

With any lead provider that offers real-time leads, if you call the consumer straight away, they may often still be sitting at their computer having literally just pressed submit.

This will often produce what we call the “wow” factor, which is when a consumer is so impressed by the speed of contact that they are immediately in a positive frame of mind about the that has contacted them.

Consumers will be going online filling in forms throughout the working day and when they submit their information then lead buyers can easily follow these up immediately. But what about those consumers who go online out of office hours?

A consumer might have limited access to the internet during the day as their work might prohibit them from visiting certain sites. Therefore there will be a certain percentage of consumers who will only be able to submit their information in the evening or at the weekend.

These leads will still be delivered in real-time but as a lead buyer does this put you at a disadvantage? The answer to this question is no.

Apart from the fact that these consumers are genuine potential customers with a need for your product or service, by looking at the time these leads were submitted you can actually gain an insight into the mindset of the consumer that you may not have had from the leads bought during office hours.

For example, if you are a buying debt leads and you go into work on a Tuesday morning to find a lead that was submitted at 1am then this could very well reveal that the consumer is worried about their debt but perhaps doesn’t want to fully acknowledge the scale of their problem.

As a lead buyer, you will be able to consider this when you attempt to make first contact. You can then direct the conversation in a way that will be most suitable to this consumer. The more you know about the consumer and the better you are equipped to deal with them, the higher your conversion rate will be.

So next time you call a lead, check when they submitted their information and give yourself an even better chance of converting them into business.

No Comments »