Now every business owner, entrepreneur or marketing professional knows that Internet is emerging as the key medium of lead generation in the digital economy. And the easiest route to tap into the internet prospecting is to do a Google search and start buying web leads from lead generation and distribution companies. If you don’t do your homework and follow the best practices while buying internet leads, you can lose money really fast. Here are the top 10 tips to lose money, if that’s what your objective is!

While you will understand the sarcasm in the advise, you can really grow your business by avoiding these pitfalls. If the list looks too long or if you think, if following the best practices is a waste of time, then you have to rethink you business strategies.

#1 Buy old / aged leads generated via Internet: This is self explanatory, I guess. Buying old leads is a recipe for disaster. The consumers (and businesses) want immediate response when they submit their contact information on the internet. When you buy old leads, there is every possibility that the prospect has been contacted already by one or more sellers and they tired of talking to more sellers.

#2 Decide by Lead Pricing: Use the Lead Price as the primary decision making criterion. When there is a clear quantitative factor, why bother about other qualitative factors?

#3 Don’t waste your time by researching Lead Sources: There are tons of lead providers and sources if you it Google. It is physically impossible to research, verify and validate lead sources. They why bother? Just pick the top one or two sources and order the leads.

#4 Don’t bother about leadgen methods and practices: You are paying and buying leads. Just trust that your lead provider will do every rule in the book and make sure that you are getting the right leads. After all you have too much to do and cannot waste time investigating what your vendor does, right?

#5 Do not open email box in the evening; you can call the prospects tomorrow: Don’t you have a life? Just because the lead information was sent by your lead vendor in the late afternoon, you cannot afford to lose your baseball game on the television. Remember that your competitor who got the same lead info would have contacted the prospect and closed the deal. Also, revisit point #1 above.

#6 Trust your Lead Supplier: You spent a lot of time sifting through all the search queries in Google or Yahoo and finally have chosen a lead supplier. Can you doubt the capabilities of the vendor who came on top of the search results? Also remember that they had a flashy website and busy sales reps.

#7 Don’t generate leads on your own: It is time taking and painful to generate your own leads, even only a fraction of what you need. Why spend time in understanding the technology buzzwords and deciphering the jargon? You strength is working the phone.

#8 Deal in multiple lead verticals; one might work: Try your hand in multiple segments or verticals. Core competency is an old phrase.

#9 Don’t be proactive: Well, you have spent awful lot of time in learning new things. After a couple of months, you hear that there are new toys in the game. How many times a person can keep updating stuff? Who invented this continuous improvement process, as if you are manufacturing air plane engine?

#10 Don’t deploy a web based Lead Tracking and Management system: The email is easy to handle. You can take a peek and act on it immediately. If required, you can also throw in a couple of spreadsheets and cut and paste the prospect information. Why waste energy learning a new tool?

You got the idea now. Unfortunately, internet adds to the complexities in life, contrary to the claims that internet simplifies life. Whether you like it or not, if you want to sell anything (or grow a business), leveraging internet is critical. If you don’t want to lose money in the web lead buying process, practice the opposite of the above mentioned advise and you will reap the benefits. Happy selling! Or buying Internet Leads!

Here is a checklist with 10 signs that shows your business needs an automatic web lead distribution system. If you are new to the internet lead generation business or a recently established the lead company and you are not using a lead distribution software system, compare your lead gen and delivery operations with this checklist. You might be surprised what opportunities (that will help you in scaling up the business) are being missed.

If you are already using some sort of lead management system and you still some of the problems described in the checklist, then it may be good time to reevaluate your software solution and match with your business requirements.

#1 Too much time spent in emailing leads: Are you spending too much time in emailing the leads received from your lead generation websites? When you started the business, probably it was good idea to focus on lead gen and business development. You could have emailed the few leads received to a handful of lead buyers. But, if you are following the same process, then you are not growing your business.

#2 Leads fall through the cracks: Are you missing the leads and the captured leads never reach the intended customers? Every lead missed is money wasted – in terms of lead generation efforts and cost. When you go on vacation, what happens to the leads? Either you need to subordinate to take care or your customers might slip away from you.

#3 Wasting time in re-formatting Emails to Customers: Even if you are dealing in a specific vertical such as Education Leads or Insurance Leads, each of your customer may be needing the lead data emailed to them in a specific format. If you sign-up more customers, more pronounced will be this problem. Your lead distribution and management system will support multiple email layouts and format to meet each customer’s requirement.

#4 Have to ignore potential buyers since they need automated Lead Delivery: I am sure that every has to avoid signing up one or two clients for some important reason. However, ignoring customers for want of an automated lead delivery management system will fatal to the business. Sophisticated / savvy / large customers will demand more automation features.

#5 Have more than a handful of websites or leads generated: If you have a more than a few websites, then managing the capture and distribution process is tedious. Also, measuring the performance of each website is essential to optimize your leadgen efforts. Even if you have one or two lead capture websites, if the volume of leads generated is high, then you will face the same issues.

#6 Using Google / Yahoo / Bing PPC for leadgen: Are you using PPC (pay per click) programs with Google Adwords, Yahoo Search Marketing and Bing AdCenter to drive web traffic and generate leads? If so, you cannot live without a solid lead management system to manage and analyze the leads captured on your PPC landing pages. Don’t waste your inbound marketing efforts without fully monetizing.

#7 Don’t find enough time for Lead Generation: Are you spending too much time on your operations management? You must be focusing on traffic generation strategies and activities. Another important aspect needing most of your time is the business development and enrolling more customers. Deployment of a lead company operations management system can take care of capture, delivery and tracking.

#8 Lead Buyers complain about delay in lead delivery: Have you heard any complaints from your lead clients that leads are not reaching them on time? If you promise real time leads, the leads should be delivered in real time. It means that the data should be delivered within a few minutes, not after 30 minutes. Remember, the first responders have the advantage of converting the prospect to a customer.

#9 Losing Revenue: Are you leaving money on the table? If you don’t automate the distribution process, you may not route the prospects to all buyers. If you are promising multiple quotes for the prospects, you need to deliver the lead info to multiple customers. For example, if you are generating insurance or mortgage leads and the routing is based on geography (zip code or state), imaging how error prone the delivery routing process will be.

#10 Spending time on analyzing leads: Do you know where the leads are coming from and how these are distributed? What is your profitable lead source? Unless you know answers for these questions you cannot optimize your investment and generate revenue. If you are not using a good lead distribution database system which will provide instant answers on questions such as these, you will be wasting time in trying to get a grip of the business operations.

If you think that even one or two signs are visible, then it is time to take an in-depth look at your business operations / practices and analyze if an automatic lead distribution system can help you.

There are tons of recent news items in the internet on online lead generation industry. Social media, coupled with web 2.0, revolution is increasing the decibel level. It is often difficult for newbies to select a niche and get into the web lead generation and distribution business.

Even experienced professionals and established businesses have to play catch up at times. Online scams and poor oversight bring in a lot of bad publicity for online lead vendors. However, invention and popularity of devices such as iPhone and iPad are bringing in more tech savvy consumers into the internet as potential online prospects. The number of areas of lead generation possibilities is growing rapidly. This provides new opportunities for entrepreneurs and small businesses in online marketing world.

Traditionally, online lead generation is restricted to very few verticals with large market sizes but ultra competitive environment. Newcomers may not even go near these business segments, unless they have deep pockets and business background. However, things are changing overnight and enormous new opportunities are opening up.

This is a good time to take stock of the industry scenario and review lead verticals, both old and new. Let us look at each one of these verticals (and possibly more) in the upcoming posts. Here is the list of vertical segments (or niches, as some would like to call these), both traditional and recent ones.

• Financial Services
  • • Mortgage leads
    • Insurance leads
    • New Credit Card leads
    • Pay Day Loan leads
    • Business / Commercial Loan leads
    • Loan Modification leads
    • Debt Settlement leads
• Franchise Opportunity Leads
• Biz Op / MLM leads
• Real Estate leads
• Education leads
• Satellite TV leads
• Time Share leads
• Auto Warranty Leads
• Home Warranty Leads
• Home / Improvement Services
  • • Windows and Siding leads
    • Basement Finishing leads
    • Remodeling leads
    • Pools and Supplies lead
    • Lawn Care leads
    • Painting leads
    • Solar leads
    • Home Security leads
• Home Care leads
• Home Care Medical Device leads
• Accounting Services / CPA leads
• Onsite Catering leads
• Auto Loan leads
• Automotive / Vehicle leads
• Medical Spa Service leads
• Dentistry Service leads
• Legal Service leads

If you are already in the lead generation business, you may be looking for expansion and diversification opportunities. If you are new to the industry, you must do in-depth research in the niche market you are planning to enter. Keep in mind that as a lead generation and distribution company, you need to find your customers as well as the leads for your customers.

Our LeadPro 24|7 Lead Distribution and Management Software System customers leverage the technology, internet industry knowledge and domain intelligence to succeed in their lead gen businesses. I am sure that everyone can succeed in their venture by applying the knowledge and right skills as there is enough space for growth. The industry will grow furiously in the coming years, although some niches may see growth fluctuations.

P.S. If you are an expert in a niche or vertical segment (whether listed above or not) or in the leadgen industry, please share your ideas and thoughts here.

Choosing a lead distribution software service provider is a critical decision to be made by lead generation companies. If you are new to the online lead generation industry, you may be facing a number of options while considering a decision in this regard. Especially, the fees charged by various software providers may be all over the place and zeroing in on a provider based on pricing alone will lead to issues and consequences in future. Once you have selected a system provider and invested significant efforts, switching to another system is a time taking process in terms of the learning curve.

Here are 5 key considerations that you should take into account while choosing a Lead Distribution Software Service for your business.

#1 Flexible Software System

The lead distribution software should be flexible to accommodate all your requirements. A large / complex system may not necessarily mean it is flexible. You should weigh your current requirements and needs in the near future. If you are new to the lead generation and distribution business, invest some time in understanding the systems in the marketplace, industry practices, and technology developments. Remember that online lead generation and distribution business is closely tied to the internet technology trends.

#2 Match your business requirements

As mentioned above, a ton of features in the lead system may not address your business specific requirements. Understand your verticals, do some research or consult with couple online lead generation and distribution consultants. Money spent on these aspects will be worth the investment in terms of risk avoidance and mitigation.

#3 Agile technical support and services

If the software service provider is a behemoth and you are small business organization, probably they may not match your speed. Success of internet lead generation and distribution is all about timing and great customer support. You cannot be waiting for days and weeks to address specific technical support requirements. Remember that the internet works 24X7 and consumer lead requests are generated 24X7. If someone says that “our implementation team lead is on vacation for couple of days and hence the lead posting integration has to wait until next week”, better watch out. You customers (lead buyers) can just opt for another lead provider in a matter of minutes.

#4 Full Service as an option – a must

While you may prefer to go with self service options in the initial phases of your lead business, full service option will be way to go once you establish yourself. You must focus on generating leads and signing up customers, not on day to day technical operations management, unless you are restricted to a small niche which will leave you with plenty of free time. Make sure that your lead distribution software provider has the full service option when you need it.

#5 Double as your Business Consultant

As I mentioned above, the internet industry and online lead generation practices undergo constant change. You might be often needing help in using the technology trends to your advantage. A good lead system service provider can help you leverage the technology in terms of lead generation as well as distribution and delivery improvements. Small customizations and tweaks to the processes would be able to bring in significant benefits and maximize profit. For example, if you are generating internet leads using Pay Per Click (PPC) method with Google, Yahoo, Bing, etc., managing the campaigns could be integrated with the real time lead delivery system, so  that you can save money when sufficient lead orders are not available. If your system can help in Tracking and managing the demand for real time leads, it will be a great help for you as a business owner / executive. You would be able to figure out other improvements and benefits by working with your service provider acting as a consultant.

While there are several other factors to be considered while choosing a lead distribution system, these five key considerations should be the top ones in your mind. Whether you are operating in one lead vertical or in multiple industry segments, you can leverage lead distribution the tool to grow your business.

Lead Distribution and Delivery software application helps the lead generation companies, internet lead sellers and service providers and lead buyers to capture sales leads from landing pages and signup forms, distribute the captured leads in real time using distribution rules and filters and provides reporting for tracking the leads.

Depending on your business needs, you can pick and choose the features to be used and leave the rest of the functions. Though web based lead distribution and delivery solutions such as LeadPro247 are easy to use, you should understand the underlying principles and concepts of lead generation and distribution, in order to maximize the benefits of deploying such software. The above chart shows a high level overview of the LeadPro247 lead distribution solution. This is applicable for any lead generation distribution software service.

Note that the lead generation is not the core function of a Lead Distribution system. However, it helps to integrate with the landing pages and registration forms and capture the leads. In other words, lead generation websites and the lead system have to work together. For more detailed discussion on Landing Page principles, design and deployment, please take a look at the other posts on the subject in this blog.

To summarize, the following are the functions of any lead generation capture and distribution system:

• Integrate with Lead Capture landing pages (used for lead generation)
• Interface with 3rd party lead vendors, affiliates and partners to capture / collect leads from their systems
• De-dupe, Srub, Validate, and Verify leads captured
• Maintain lead buyer / client profiles, including delivery methods and payment modes
• Maintain Sales Rep info and provide sales / commission statements
• Maintain lead order parameters and filters for each client’s orders
• Distribute exclusive / shared leads to lead buyers based on filters and conditions via the Lead Distribution Engine
• Deliver leads to lead clients via Email / SMS text messaging / API interfaces / HTTP posting / Fax / Back office Lead Retrieval System, etc. based on the buyers’ preferences
• Process payment via credit card gateways or accept manual payments
• Accept credit requests from buyers for bad / invalid / duplicate leads
• Process credit requests and provide substitute leads
• Provide lead capture, delivery and sales statistics for lead distributors / companies
• Back office access to view / manage / download leads delivered

As mentioned earlier, you may not be needing all the features and functions for your business. Also, some of the Lead Distribution and Delivery systems may miss some of the features and have more frills. You need to research and evaluate the software system before finalizing the deployment.

Online Lead Verification is the most valuable and intensive quality assessment and improvement process which comes to the aid of online lead generation companies and lead distributors. Lead Verification can be employed in both B2C and B2B scenarios, though it is most useful in consumer lead scenarios. You may take a look the primer / my earlier post on Lead Scrubbing, Validation and Verification processes.

Again, this is a post-lead-capture process and hence you can not prohibit the bad leads hitting your marketing / leads database. However, by deploying a suitable Online Lead Verification Service you can verify the lead parameters and then make a decision whether to pass on the lead to the lead buyer or your sales team.

The lead verification is carried out generally online and hence it can be used in real time lead generation and distribution situations. Once the lead information is received from the landing pages, the lead management system will subject the key data elements to dozens of tests and determine the quality of the lead.

Lead Verification Properties

The following lead profile parameters are used to verify the lead. Obviously, if the lead captured does not contain all these data elements, then the quality assessment results will be less accurate.

• First name
• Last name
• Email Address
• Address
• Phone Number
• Gender
• Date of Birth
• IP Address

Based on the input values, the verification process will return the corrected values as well as a set of useful quality parameters (which may vary from system to system).

Most of useful results from Lead Verification process will be:

• Overall Quality score
• Overall Quality Result
• Type / technology of telephone numbers

It may also provide alternate telephone number and address.

At the highest level, the Overall Lead Quality Score can be used to take an instant decision and treat the lead accordingly. For example, if the score is less than 50, probably the quality may not be very high and hence you may avoid selling it to your high value customers.

Benefits of Lead Verification

Adding a Lead Verification service feature in the lead capture and tracking system will be a great boon to those dealing with mortgage leads, debt settlement leads, financial services and other consumer (B2C) leads. There are several advantages and benefits of using an online lead verification process in your demand generation and distribution efforts. Here is a check list. These benefits are self explanatory. However we will revisit these in future posts.

• Increased Customer Satisfaction
• Increased Lead Conversion Rate
• Decrease in Wasted Time and Efforts by your Buyers / Sales Team
• Decrease in Lead Cost in the long term
• Identification of poor quality lead sources and providers
• Increased ROI
• Decrease on Price (for Lead Buyers)

Verification Services

Since Lead Verification involves comparision and mathcing with millions of public and proprietory database records, the verification services are generally provided as a per transaction fee based service. The typical cost per transaction varies from 25 cents to 35 cents based on volume of leads verified on monthly basis.

There are a number of verification service providers in the market place. The services include TargusInfo, ServiceObjects, LeadQC, and AccurateAppend among others. You may directly contact the data service provider and request your technical team to establish the interface for online verification.

On the other hand, Lead Distribution and Management service providers, such as LeadPro247, include Lead Verification as an optional service in their lead management and distribution platform. These services use one or more of the database service providers as their back-end partners and hence you can not only get the same benefit as going to the primary provider but better service and more choices. Choosing such a lead management platform might solve a lot of technical issues and maintenance efforts for your team. And your lead buyers and sales team will be happy that you addressing their pain points!

A key component of lead sales process which helps lead generation and distribution companies sell more leads is providing multiple, flexible payment options. Each lead buyer will have a specific requirements depending on their lead sales practices in that specific business segment. Using a Lead Distribution Software solution with multiple payment support options will help you cherry pick a suitable method based on the client requirements.

Providing flexibility does not mean that all payment related activities should be carried out manually. On the other hand, you should automate the payment processes as much as possible, so that you can focus on lead generation and sales.

The above screenshot shows an example of payment options that  could provided for a lead order from a lead client. The options include:

• Payments not processed via the lead distribution and management system. This is the least preferred option. However, you have a different arrangement with the client and payments could be entirely handled outside of the system.
• Capture Payment in Full for the entire Order volume. This option could be used if the order volumes are small (in the case of real time leads) or aged leads are delivered immediately.
• Deduct Full Payment for the entire order from the client’s account balance. Again this could be used in the above order scenario. This case is applicable when the client has money in his account, either through a prepay method (ex. auto capture of certain amount of payments at preset conditions) or through manual methods.
• Accumulate Payment and process at certain intervals. This would be useful if you are extending a credit plan for the buyer. The accumulated payments could be captured at the end of the day, end of the week or when the outstanding hits a threshold.
• Deduct payment from buyer’s account balance in real time. This option is applicable when balance is available in the account and the payment can be taken in real time.
• Capture payment from buyer’s credit card in real time. When the individual leads are delivered in real time, this option can be used to capture the payment from the client’s payment card.

In every case, the system should be able to handle the exceptions and trigger payment capture as necessary or put the order holder with an alert to the administrator.

If you are receiving payments outside of the system via wire transfer, physical checks, etc. from lead clients, the same should be entered into the system. Even if you are processing credit card payments externally, the same should be recorded in the system. Similarly any adjustments should be posted into the system. This would help to have a unified view of the situation and automate the rest of the processes as much as possible. The above picture shows a typical manual payment / refund entry screen on the lead distribution and payment processing software tool.