Are Lenders Hurting Their Own Lead Quality?

Lead buyers are disadvantaging their own lead quality. Our traditional thinking, as lead buyers, is that it is solely the responsibility of the lead provider to generate quality leads. Furthermore, if they generate a bad lead–fake, bogus, or just not ready to close–then the buyer should get a credit.

This sort of thinking, combined with a general belief that providing performance data back to providers leads to price and lead flow manipulation, creates a harmful effect to lead buyers. Change your perspective for a moment. If this were your internal marketing department would you provide positive and negative feedback? Would you try to use near real-time metrics to make adjustments to your creative, copy, and placement? Of course you would.

Unfortunately, in stark contrast, we have created lead receipt methods that only receive leads, lead management systems that do not track actions, and feedback loops that only provide data about how many bad phone numbers we received.

The result is a disproportionate focus on verifying phone numbers instead of generating better, more product appropriate, and more time appropriate consumer inquiries.

What do you think would happen to lead quality if…

Read more at the new Lead Marketwatch Blog

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