If you are looking to increase your lead quality, you must take a serious look at your lead generation data. Don’t cut corners when it comes to these four habits of successful senior marketers.
1. Know what you are looking for in a lead
The first step to understanding lead quality is to backtrack through your current customer data to find out what an ideal customer looked like in the lead stage. If you have proper lead data in place, it should be simple to reverse the process and see what source, attributes, and behaviors your customer demonstrated during the sales process. This information will be invaluable to you as you start to rate your lead quality. You may even overlay this with the customer journey for more insight.
2. Always be evaluating your lead sources
Do you know which of your lead sources are doing the best? If you’ve been doing your homework during the past few months, you should have no trouble getting to the root of that question through your data analysis. Each of your lead sources is going to have different attributes, close rates, and behaviors that will impact the overall success of those leads.
If you are tracking that data, you should be able to quickly and frequently evaluate your lead sources to see from a high level which ones are performing at the right ROI. Using a lead management system with closed loop reporting would be ideal, but if you don’t have this set up, much can still be done with simple CRM integration.
Once you understand your ideal customer profile, it’s easier to look at a portfolio of possible partners and focus in on leads that match up with what you want to find. Other things to look for in your lead generation partners are the exclusivity of the leads, the geo-targeting available, and the company’s technical integration abilities.
Tip: Choose a partner that matches your profile.
3. Build a system for lead quality monitoring
The best marketers are diligent with every dollar of their lead generation spending and are trying to get the most “bang for their buck”. The key to this is to monitor the quality of the leads and make adjustments along the way, constantly sifting the weak from the strong to find out what is working and what isn’t.
There are multiple ways you can do this, and it all depends on how technically integrated your systems are to your marketing data. Here are a few approaches that might help your system.
Predictive Lead Modeling
If you have enough data and technology in place, you could build a predictive model to screen leads as they come in from your lead sources. This is a bigger effort up front, but results in seamless lead scoring over time. Tie in marketing automation to that model and you’ve got some real power behind your lead generation and marketing.
Outbound Call Sampling on New Lead Quality
One of the best tactics is to perform outbound call surveys with the purpose of vetting new leads. A random sampling for these leads can give you more information on quality without a large technical infrastructure. You can have your telesales team use a simple form in front of them to get a ranking system setup over time.
The best part is you can do this on all lead channels. In our service work, we’ll call 25% of the leads we receive to rank quality of those leads for our clients. There are so many additional insights that can be harvested from an outbound call, such as:
- Command of language
- Details of source of funds
- Fact check the user data
- Their position in the buying decision
4. Make marketing qualified leads worth every penny
Whatever system you use to evaluate your leads, when a lead is truly vetted and handed off to the sales team as a marketing qualified lead (MQL), the lead can quickly fall away if proper care is not taken to deliver that lead to the sales team correctly. We have seen large increases in appointment setting by simply plotting more data fields in the CRM and using a narrative summary of the lead when handing it off to a sales team.
Steve and his wife Nancy want to buy a retirement home in FL next year and will need to show guaranteed income to qualify for that. He wants to know about tax exempt mutual funds, RETS, and other options to achieve this goal. He has money that can be moved around to accomplish this.
In addition to a much more robust contact record, the narrative summaries of the lead’s place in the buying cycle and needs assessment have given the sales team a real edge in the sales process.
Lead Quality Makes a Difference
With the amount of money you likely spend on lead generation for senior customers, it makes sense to have a strong quality assurance process for those leads. The above tips can help you strengthen your process, and we offer other lead generation services that can help transform your business.