“A-B-C Always Be Closing!”
This is the mantra for every sales team, right? However, as fans of Glengarry Glen Ross know, your sales team is only as good as the leads in their CRM. This is exactly why I’ve decided to outline 5 hacks to evaluate lead providers.
How are your leads generated? Are they inbound requests from consumers, or are they outbound dials from a call center? Do you receive a mix of both types of leads? We have studied and compared the quality and conversion rate of both generation methods. What we found was by no means surprising, inbound generated leads have higher contact rates, appointment setting rates, and conversion rates. When a customer reaches out and inquires about they are already much further down the sales funnel than a customer that is captured through an outbound cold call. We call this intent scoring and believe that while outbound leads can supplement volume, their value pales in comparison to inbound generated leads in terms of customer intent.
Just as you were told not to take candy from strangers when you were young, you should be wary of getting leads without knowing what marketing tactics were used to generate them. A variety of dubious marketing tactics can lower the quality of the leads you receive. For instance, a company telling a customer they will receive a free tablet at may make them fill out a form, but giving the customer bait and switch marketing will also cause them to stop dead in the sales funnel when they learn the truth and speak to your team. Leads are an investment, and that is why we advocate lead generation tactics that educate consumers instead of incentivizing them. It’s no secret; well-educated consumers feel more confident in their decisions and are thus more likely to convert into sales.
If you have ever called on leads then you know how frustrating it can be to have a list full of invalid numbers, fake names, and faux emails. When it comes to leads the company generating the lead should be responsible and accountable for controlling the quality of the leads they sell. Ask your lead provider what systems they have in place to monitor and maintain the quality of their leads. Make sure to find out what the return policy is like for invalid leads, or if they verify the information on the leads. We find that by screening our leads we get rid of the headache our customers would have from invalid leads and reduce the amount of time we have to spend working returns.
Every company and installer is different. Some companies have large sales teams, some have small teams. Make sure to find out if your lead provider can create a plan that fits you. Do they have set up fees or minimum investments they require? Can they target your market correctly? Do they stand by their quality or cap returns for invalid leads? These are the questions you need to ask before getting locked into a plan that isn’t right for you. Are their measures in place to safeguard you from being charged for leads you can’t use? How often can you change your territory and volume caps? No two snowflakes are alike and the same goes for lead generation companies. Your lead program should be tailored to your company. You have the upper hand.
Will your lead provider help you reach the profitable and low CPA you would like? Do they even care what CPA you need to operate at? These are some of the reasons you may wish to work with a lead provider that will provide fast and helpful client services. If something is going wrong in your account and you aren’t around to check it will your lead provider call you to check and see how things are going. Don’t be fooled into locking into a plan with a provider who abandons you after signing. Good customer service can be the difference between just working your leads, and working with your lead provider to ensure mutual success.