What does a ‘good’ lead look like? Well, that depends on who you are, your company’s objectives and who your target audience is. One thing we can agree on is that in today’s lead industry, finding a quality prospect can be difficult. Did you know that every year, 45 million consumers change their phone numbers, 60 million change their address and 2.1 million legally change their name? And when we look at online behavior with the proliferation of screens and the constant changing of interests, attitudes and preferences, the consumer profile continues to fragment. So in today’s online and offline world, how can we be sure that the lead we are buying or selling today is the same lead that we engage with tomorrow or next week?
Take a moment and put yourself in the consumer’s shoes. We have all been sold to, been spammed and persuaded to make a purchase. What was it that turned you? For many consumers, especially millennials, advertising is no longer a four-letter word. Many welcome a discount or deal in their inbox or mailbox, but the vast majority (83%) of us expect a brand engagement to be personalized (Monetate 2016). So when that always on, always distracted and always moving consumer sees a poorly crafted email, receives an unwanted phone call or ignores an intrusive digital ad, it’s because you and your organization have failed. Failed at making a connection that stands out amongst the noise and competition. Failed at obtaining quality lead intelligence, wasting both their time and yours. But how do you know when you are buying or selling a bad lead? How do you know when the information you rely on to make a connection or a sale is wrong? It all starts with the quality of your consumer identity.
If you get identity wrong, everything else you do will be wrong. How do you know whether your lead is an actual person? Do you have a complete understanding of the individual behind the lead? Do you know their phone number, address and email? How are you determining whether this consumer is even interested in what you are selling? Are they financially viable, do they have kids, do they own a home or are they married? How can you be sure that they didn’t already make a similar purchase or that you haven’t already engaged with the same lead? Even if you do have identity right, how are you going to deliver a consistent and relevant engagement across not just one screen, but across all the touch points that consumers rely on to inform their purchase decisions?
True Identity Management: The consumer data used to create a lead can often be inaccurate, stale or just plain useless. To ensure your lead contains accurate and up to date information, the data you’ve collected (e.g., name, address, phone number) needs to be validated against authoritative sources that de-duplicate and appended with missing identity data. Fill the gaps across your lead intelligence to form a complete profile of your lead before taking action.
Lead buyers can easily evaluate lead vendor quality and reduce excess spending on duplicate or useless leads. Improve the health and consistency of your consumer records while maximizing engagement across more channels to increase reach and scale.
Lead sellers can reduce returns and increase profitability by better managing incoming lead sources (affiliates). Minimize internal manual reviews, and streamline quality control processes improving operational efficiencies while reducing costs.
Enriched Lead Intelligence: Getting identity right is just the first step in providing relevant cross-channel engagement. With the use of audience segmentation and scoring, you can enrich lead intelligence with demographic, psychographic, geographic and behavioral attributes to help you focus on the quality leads while ignoring the rest. Gain insights into a customer’s potential value so you can focus on leads with a higher propensity to buy and save you time and money.
Lead buyers can improve conversion and reduce returns by focusing resources on the best leads. Target and segment smarter to improve the customer experience and increase profitability.
Lead sellers can segment leads based on consumer profiles uncovering the true value of their inventory. Increase profitability by correctly pricing leads by quality.
To learn more, please join Michael Feuerstein, Exec Director of Marketing Services at Neustar in person at LeadsCon Las Vegas. Michael will be speaking with Plymouth Rock Assurance’s George Hurley, Director, Marketing Acquisition on ‘Acquire More while Spending Less.’ Register here.