There is a global initiative underway focusing on protecting consumers’ privacy and, given the nature of the lead business, it is something that should be on the minds of all lead generation companies. The US leads the way in regulatory efforts, with recent changes to the TCPA for example, but other countries like Canada and its CASL are following suit. Companies that take steps to protect consumer rights and adapt to this changing view will see the value of their leads rise over time. However, the companies that fail to alter their generation processes will see a decline in the value of their leads and increased risk to the company’s operations.
Part of the effort for lead generation companies is ensuring compliance. This is done with specific consent language and by being transparent on what the consumer can expect upon submitting an inquiry. However, another important aspect of protecting consumers’ privacy is limiting who has access to the consumer’s information. The ping post process allows companies to efficiently communicate with the potential buyers of a lead while still protecting the consumer’s private information. Because it benefits each stakeholder in the lead generation process, ping post is becoming the standard distribution in many verticals. We fully expect this trend to continue, both in the US and internationally, as the efforts to protect consumer information continues to be a point-of-emphasis for regulators. Below we discuss how ping post affects each party in the lead generation process.
What is ping post
The ping post process allows a lead seller to send (ping) only partial information to their network of buyers. The buyer then determines whether he or she would like to purchase the lead based on this partial information. This ping delivers only the information that is required for the buyers to make an informed purchase. For example, a ping will include information like geographic location and answers to qualifying questions yet exclude any sensitive or personally-identifiable information. The seller gathers the responses and can then make a determination as to which company will receive the full lead details, including contact information. This entire process is done in real-time, taking only seconds to complete from start to finish.
How ping post helps the consumer
The ping post process helps the consumer in two ways: by increasing the pool of potential service providers and by reducing the number of companies that will receive the consumer’s contact information. Because ping post does not include the most valuable part of the lead, the contact information, more companies are willing to work together and the likelihood of finding a service provider that can meet the consumer’s needs increases. Ping post also protects the individual consumer by providing their personally identifiable information only to the buyer(s) that will be able to service their request. Additionally, this reduces the number of databases in which the consumer’s information resides.
How ping post helps the lead buyer
The primary way in which ping post helps the lead buyer is by giving them more flexibility in determining what they purchase and at what price points. All leads are not created equal and the two-way communication process of ping post allows lead buyers to better define the qualifications of a lead at a given price. This leads to greater efficiency in the use of marketing budgets and time management of sales representatives as the number of out-of-area and non-qualified leads is greatly reduced. Ping post also opens up lead buyers to more supply because companies can test more 3rd-party affiliates with less risk given the variable pricing.
How ping post helps the lead seller
The primary way in which ping post helps the lead seller is by maximizing the revenue of each lead generated through the dynamic bidding process. As more buyers have the ability to dynamically reply to pings, lead sellers can ensure that the highest bidder(s) receive the full lead details. Ping post also opens up the market of potential lead buyers by reducing the barrier of establishing a static price-per-lead. Lead sellers also benefit from the ping post process by protecting one of its most important assets, the full lead information. This information is ultimately routed to only the provider(s) that are most likely to service the lead’s request. This control over the flow of information in the ping post process protects lead sellers from other companies stealing their data. Lastly, by limiting access to the consumers contact information during the lead routing process, ping post imposes a certain level of self-regulation for the industry. The more self-regulation that occurs, the less likely governments will be to step in and impose restrictive regulations.
Ping post is undoubtedly the future of the lead industry. It is already the standard in the home improvement, auto finance and insurance verticals, while becoming more common in others as well. Even if ping post is not currently the standard in your vertical, now is the time to make the move. Not only will you reap the rewards of the technology and help improve the industry, but it will also give you a head start on your competition. It is only a matter of time before ping post becomes the industry-wide standard. Be a leader, do what’s right and let’s work together to protect customers and the lead industry as a whole.