Dealers are always questioning the quality of 3rd Party Leads the Lead Providers they come from – OEM programs are NOT excluded.
WE KNOW – we (dealers) get sold duplicate leads from time to time.
WE KNOW – we get sold recycled leads from time to time.
WE KNOW – we get sold straight-up FAKE leads sometimes.
It happens, it’s the lead business.
BUT CAN the quality of 3rd Party Leads be IMPROVED? The better question might be, does anyone WANT TO IMPROVE THEM?
My guess is NO. But let’s assume it could be. But HOW?
I’ve been an advocate of Lead Scoring for years now. I’ve used Polk (IHS) Lead scoring with good to great success when applied at the dealership and vendor level. But let’s face it, lead scoring for whatever reason has never really caught on.
There’s possibly another solution that I stumbled upon several months ago – LeadID.
To summarize: LeadID provides a script that resides on the same page as the lead conversion form. Their script/technology not only records the user form fill session but also appends a unique ID to each lead. So if you can imagine:
- Know whether you’re dealing with a real consumer.
Examine the characteristics of the recorded lead form fill session, such as the consumer’s device and IP address, to its risk level and the likelihood that it represents an actual consumer.
- How many times a lead has been sold.
See how often, a particular LeadiD has been exposed or sold to other providers, and how often a particular consumer’s information has been seen across other lead form fill sessions.
- How engaged the consumer is with you.
View key metrics, such as Lead Duration, that shows how long a consumer spent filling out your lead form. This is can be telling.
- How old a lead really is.
Tap into the true age of every lead, based on the moment it was created – rather than when YOU bought it or it was sent to your CRM.
- Whether a lead is compliant.
Ensure that leads meets TCPA compliance. Did the lead come from lead forms using words and phrases that you don’t want to be associated with?
They of course has their own algorithm based on lead form fills over the last few years and can usually tell if a lead IS or is NOT one of quality.
Here you go…
While having established themselves across other verticals, they have struggled to break into automotive.
WHY? Think about it – they basically have two avenues to work through:
- The OEMs Agency – that’s probably not going to happen because most have their hands in the pot and it’s a revenue stream for them. Most of these agencies could care less about the end dealership. Sell the leads and make money!
- 3rd Party Lead providers – but why would they do it?
My Answer: Provide an advantage package over the other lead providers by offering a higher-quality lead (for a higher amount) – utilizing a lead authenticity/scoring technology like LeadID.
Their answer: What for? Why do we need to do this when there’s only a few of us (lead providers), and until someone else does it, no need for us to do it.
OR if and when TCPA Compliance laws become more strict (he laws and regulations around when and for what reason you’re allowed to contact someone by email, text and phone).
Example: You receive a lead. You’re calling, emailing and maybe even send an opted-in text message. But it’s a fake lead, someone else’s information and they are PISSED. They threaten to sue.
That’s okay, you’re SAFE because you have a recorded session of the lead form fill, saved out there on a cloud server that you can reference to at any given point. That’s just another added benefit of LeadID.
What do you think?
Do we need a improve the quality of 3rd Party Leads across our industry?
Would you pay a higher cost per lead IF the quality improved?
[highlight color=”#F0F0F0″ font=”black”]Feel free to comment below but most of the action is happening in the Forums.[/highlight]