Quality lead generation depends on real time and conclusive lead validation to verify both the identity and intent of inbound leads. Plus, ensuring the quality of lead sources helps generate higher conversion rates, minimize media waste and later, to optimize lead generation programs to those parameters. Verified leads let marketers not only provide more relevant offers and more effective lead nurturing campaigns, improving consumer engagement and conversion, but also to add further intelligence about the consumer through buyer profiles and attributes.
Identity and intent make a big difference in verifying that leads are high quality. There is a vast difference in the lead journey, as well as treatment of the lead, for a cruise line that has engaged a 40-year-old female with three kids under the age of 12, drives a minivan and lives in the suburbs, versus a 60-year-old male who drives a sports car and lives in the city. Each of these leads is unique, and their lead journey will be equally unique. Marketers can make more relevant offers and be more effective in lead nurturing and conversion when they know consumers’ identity and intent.
Enabling Lead Qualification and Routing
For a lead calling into a customer call center for the first time, on-demand lead verification enables the call center to leverage intelligent call routing to connect the prospect with the most appropriate sales or service representative. How do you accurately identify that lead to appropriately route them? With the right consumer identity management practices in place, each prospect can be instantly and accurately identified based on a single identifier – phone number, mobile number, email, IP address, name etc. This single identifier can also trigger the creation of an already populated buyer profile. This information helps ensure timely and appropriate routing to a specific agent and/or, in the case of a call center, a specific script to improve conversion.
The most promising leads – those with higher intent to purchase based on their buyer profile – can be routed to highly experienced agents who can nurture the lead for greater conversion potential. Intent can be gauged by attributes such as past purchase history (such as homes and autos), demographic and psychographic data, as well as time spent on the submission form, amount of information populated in the forms, etc. Having this information in real time eliminates lead research time (and delay or hold times that can impact churn) and can drive higher close rates due to the more experienced customer care.
Recognizing VIP Leads
Through lead verification, leads that contain specific attributes or purchase and engagement histories with the brand can be provided with personalized offers, improving the rate of conversion and increasing the deal size. This includes recognizing inbound VIP and repeat customers from direct marketing, email, social and call center programs as consumers rarely use the same exact identifiers, e.g., email, phone number, for every brand interaction. Recognizing a lead or customer from a fractional identity, e.g., a phone number, email, etc. and being able to complete that identity can help drive conversions. Accurate and complete identity and attribute data across all inbound channels helps marketers recognize existing customers vs. prospects, but also enables the agent, representative or brand marketer to tailor their messages and offers to that particular individual – which is critical to ROI.
As an example, recognizing a previous donor is essential to non-profit organizations that rely on fundraising – and it can be especially critical for large donors. Donors may contribute annually but not engage with the organization throughout the year and enter the lead process with a different email address or from different channels or campaigns. Consumers today actively use a minimum of two to three email addresses. By verifying the lead and verifying identity, a seemingly unknown email address can be matched in real time with a previously used email to identify a VIP along with other valuable identifiers and insights, generating a more targeted interaction.
Reducing Bogus or Bot-Generated Leads
Non-human web traffic generates a number of fraudulent impressions and clicks that will never convert and can waste a lot of marketer time and money in the process. Verifying inbound lead identity can recognize bogus leads and immediately reduce time spent servicing invalid or bot-generated leads. With consumer identity management best practices in place to verify leads, the impact of bot-generated leads can be significantly reduced. By instantly removing bot-generated leads from further engagement, sales can focus their efforts on the viable and profitable leads. Similarly, marketing teams can report on and analyze campaigns that are providing positive ROI, and make related changes to underperforming campaigns or campaigns that are generating a high number of bot-generated leads.
The benefits of on-demand lead verification continue even after the interaction is over – regardless of whether it ended in a conversion or not – as these verified leads can be added to CRM or prospect databases. Adding new linked identifiers can enhance prospect and CRM data.
The bottom line is that marketers today must validate inbound consumer lead identity and intent with key identifiers as well as behavioral, demographic, property and vehicle ownership attributes. This is critical to assessing lead quality and value and, ultimately, improving lead servicing with higher conversion rates.