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No issue divides brokers more than the quality of leads

From Simon Baker

But surely there has never been an issue that divides advisers more than this one.

For every adviser complaining about quality, there are many more who are happy with both the quantity and the quality of their leads. Of course, those who are happy tend not to be so vocal about it – especially if they are onto a good thing.

At Leadbay, we really welcome the attention Mortgage Strategy is giving to the lead generation industry.

Prior to launching Leadbay we took the time to listen to brokers’ thoughts and problems about lead generation.

What we launched in January was what we think is an innovative, flexible solution that has subsequently had many rave reviews in the mortgage press (three in Mortgage Strategy alone). Nowhere else can you choose the exact types of leads you want based on mortgage type, loan value and postcode area, and have the ability to turn the lead flow on or off within a second at any time of the day or night.

We do not believe in tying our brokers into a contract that obligates them to purchase leads. They are free to leave at any time. We have also erred on the side of caution with regard to Financial Services Authority regulation. Most importantly, on our forms we show the name of the broker receiving the lead before the client clicks submit – not after submission when the lead has already been sent.

Our refund policy is also clear and fair, in Vijay Patel’s case we would have refunded the leads if he was unable to contact them.

I believe networks and the FSA have their parts to play in helping brokers distinguish the lead generation cowboys from those of us who really want to help make intermediaries’ businesses profitable.

At Leadbay, prices are completely dependent on what brokers are willing to pay for the leads so it is in our interest to deliver quality leads – otherwise, brokers would simply not be willing to pay for them.

We also promise to make all our leads available to Leadbay registered brokers. To date that is over 100,000 leads in less than a year and the volumes are increasing month on month. As MS said in last week’s editorial: “Intermediaries who haven’t at least investigated lead generation companies should do so now, or risk being left behind.”

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