Over the last few years I have written a lot of articles about lead generation, many of them containing advice for advisers on how to generate a better return on their spend.
The same things hold true for lead buyers who want to make a success out of lead generation in 2012 as they did when I joined the industry in 2007.
The fundamental issue now for lead buyers is still making contact with consumers. Many buyers don’t speak to enough of their leads to have a realistic chance of making a decent return on their investment.
In simple terms, if you only speak to 50% of the leads you buy, you are only giving yourself half the opportunity.
The good news is that for many advisers looking to improve their contact rates and get 2012 off to a flying start, there are some simple things to concentrate on.
The first is to ensure every lead is followed up immediately on receipt. Studies show that contact and conversion rates diminish by the minute after lead receipt.
The other thing is having a structured contact process. The best practice recommendation is to try every lead four times a day for four days before auctioning the lead.
To do this properly requires resources in terms of time and effort, and preferably some software to track everything.
Lead buyers who can improve their speed of contact and the number of contact attempts will have a greater chance of converting more leads and generating a better return on investment.