Lead generation is the first step in lead management. Some companies specialize in lead generation and lead acquisition. In our earlier article, we have explained the basics of lead generation.
Quality of Generated Leads
The quality of the generated leads is determined by the following factors: correctness, timeliness, the voluntary, conscious provision of the data by the potential customer and the customer’s genuine interest in the product or the company/service in question.
Not all leads are of the same quality. For example, there are the so-called “cold leads” and the “warm leads”. “Cold leads” are leads where data has been entered to achieve a purpose, such as being able to download an e-book. There is no interest in the publisher or its products and services.
The so-called “warm leads” are the higher-quality leads where there is an independent interest in the service or product of a company. In the case of the “warm lead”, the data was entered voluntarily without receiving a reward – as in the case of the cold lead. To ensure a high quality of the generated leads, it is often necessary to evaluate and qualify the leads as part of lead generation. The goal for most advertisers is to generate high-quality leads. If there is no high quality, customer interaction is made more difficult and cannot be conducted in the long term or sustainable. For companies, it is usually associated with great (time and financial) effort and costs to identify and sort out incorrect or even invented data sets. In addition, there is a risk that consumers could feel harassed by the respective company if they send them advertising or use their data without their specific consent. This can lead to reactance among consumers and damage to the company’s reputation.
High-quality lead generation can be achieved through various measures. These are easy to implement, especially in online lead generation, because here the data records are available in digital form right from the beginning and can thus be checked automatically in a simplified manner. The leads obtained online can undergo any number of validation levels and be checked for correctness not only automatically, but also manually. Some examples of such validation levels include:
- Ensuring that consumers consent to the further use of their data (it can be through double opt-in procedures)
- Automatic checks of the generated data records
- Automated verification of stored phone numbers through very short call attempts
- Inspection by human
- Additional telephone contact to make sure that the user is interested
Quality of Generated Leads
Businesses generate leads for a variety of purposes, such as to establish and expand a customer database. In addition, companies can use lead-generation campaigns to build a positive image among consumers and promote the development of brand awareness (so-called branding). This can be described as a positive side effect of such campaigns. The result is to increase a company’s sales by arousing and promoting customer interest.