lead generation adding value to your business simon williams head of business development...
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Lead GenerationAdding value to your business
Simon Williams
Head of Business Development
paaleads.com
A year is a long time in Lead Generation
• Lead Generators not doing anything different• Method of sourcing leads remains unchanged• What impact has the credit crunch had ?
– Lead Generators at mercy of wider market conditions– Reduced number of products– Fewer approvals– Impact on those sourcing new business– Issues that existed then, now matter
What does this mean for the advisor ?
• Buy more leads– But look at pricing
• Leads may not convert today– Long term marketing strategy– Ready made pipeline
• Cherry picking is no longer an option• Issues now matter
– Quality– Delivery– Conversions
What does this mean for the consumer ?
• Behavioural Changes– Faster , cheaper access to research– More websites to choose from– Filling in more forms– Going online earlier in the purchasing process– Intent unchanged– More time and effort to convert into business
The Current Market
• A thorough approach needed– Better Measurement– Ancillary Products
• Examine business model and sales methods• Revisit marketing strategy
Measure – Return on Investment
• Every penny counts• Advisors not trying to measure ROI from marketing• No idea whether making money
– Which activities are working best– What lead type is working best
• Continue to spend• Reality
– You can and should measure your success– Accurately measure how much you’ve spent– Know what leads have turned into business– Calculate how much the client has made you
Measuring – The facts
• Generally get better returns• Don’t necessarily spend more• Buy leads that are targeted to business model
– Re-mortgages in postcode area with wealthy inhabitants
– Purchase leads for high lifetime value & up selling opportunities
– Lead generation is only initiative that allows this
What to measure
• Time and money spent for real ROI• Results from each type of marketing activity
should be compared– Long term view of how profitable each form of
marketing is– If lead generation is more profitable than advertising– If one lead type is more profitable than another– If regional advertising is more effective than Yellow
Pages– Concentrate efforts on the activities that work
Up-selling
• Can generate more income• Cannot be ignored
– General Insurance– Protection– Conveyancing
• Revenue attributed to buying leads
Alternatives to lead generation
• Few options available– Referrals– Local Advertising– Yellow Pages – Direct Mail
• No trackable results• Not targeted or specific• No guarantee of consumer contact
Lead Generation
• Access to all the marketing effort without the overheads
• Specific & Targeted• Real time delivery• For expanding businesses or start ups• A numbers game – fact !• Online users actively researching• Identifiable return on investment
Summary
• Viable marketing tool when sourcing new business• Not just prospective clients – investments for the future• Valuable database – nurture leads over time• What you do before and after you buy a lead will
determine your success– Planning– Process and measurement– Realistic expectations
• Most cost effective and measurable way to source business
• An essential part of your business over the coming months and years