Since 2001, we've helped hundreds of lead vendors get set up to automatically sell leads in real-time. Whether we are working with lead vendors that generate their own leads or those that purchase leads before connecting leads to their network of service providers, we have seen it all. And while we know from experience that virtually every lead vendor is different, we also know the most common obstacles and the elements that are often overlooked that can over-complicate (or in some cases over-simplify) a lead vendor's lead selling infrastructure.
That's why we put together this checklist to help any lead vendors that are either just getting started or looking to build a more sophisticated lead selling process.
1. Segment Your Lead Vendor Traffic
When selling leads as a lead vendor it is important to have the ability to track and route your leads based on how they are generated and where the lead originated. This is important due to the fact that leads generated via different means have different costs and even different values to your lead buying clients.
For instance, a lead that has previously been qualified will sell for more than an unqualified standard web lead. Furthermore, a lead generated via paid search may convert at a higher rate than your leads generated via email. It is important that you are not only aware of these differences, but that you dynamically segment your lead traffic accordingly. By doing so, you have the ability to choose the traffic your buyers receive and set different margins for each buyer.
2. Sell Leads Via Ping Post
As a lead vendor using ping post to sell your leads is a must. When selling your leads on a ping post basis you are able to ensure that every lead sells for the greatest possible amount, and allows your buyers to only purchase leads that they are looking to work at that time.
If you don't already feel comfortable with ping post and how you, as a lead vendor, should be utilizing this technology, take 10 minutes to read our basics of ping post whitepaper here.
3. Be Smart About Each Ping You Send
A lot of lead vendors are looking to send as many ping attempts as possible to their buyers, which results in the buyer receiving nearly every ping that is generated. We understand this desire, but we also know this can lead to a lot of waste and unnecessary hassle for your buyers. If your buyer does not have the capacity or desire to purchase specific leads (for example leads from the state of Wisconsin) we recommend that you stop sending them pings that match that criteria.
As the lead vendor you will stop sending them leads that they were not going to be able to purchase, which allows you to send the lead onto a buyer more quickly. With the right ping post software, you can build sets of criteria for each individual lead buyer that outlines their preferences and ensure you are only sending them pings that they have at any point expressed interest in.
4. Make Billing A Priority Now So It's Not A Chore Later
The most important part of any transaction is the ability to handle the billing of the process. We've worked with many lead vendors that struggled with billing until they finally established a rigid structure that took all the hassle out of billing periods. The best lead distribution systems give you many different billing options from standardized weekly or monthly invoicing to automatic re-billing or recurring charges. While your specific billing infrastructure will entirely depend on your preferences, we strongly encourage you to take a look at some of the most user-friendly options available.