The big 'C' of lead generation
Net Imperative03-01-2010
The ultimate measure of lead quality is the Return on Investment (ROI) generated from a campaign but there are of course some key quality metrics to measure along the way which will impact upon the ultimate ROI and one of the most important of these is “Contactabilty”.
“Contactability”, is essentially the propensity to make contact with the consumer by whatever the chosen method of contact is. Leads can be further divided into valid contacts and invalid contacts. An invalid contact is a lead that can never be contacted, e.g. a wrong phone number or a hard bounce email address. A valid contact would be where the consumer can be contacted but for some reason doesn’t answer their phone or open an email etc.
Furthermore, campaign objectives will determine what contactability really means to the advertiser. For example, if you are purchasing leads for an opt-in email newsletter, then you want email addresses to be valid. If you are paying on a CPL basis and buy 100,000 leads and only 80,000 have correct email addresses then not only have you wasted money on 20,000 useless leads but you have also reduced the likelihood of success as if your usual open rate for an email campaign is 20% then you immediately have 4,000 less consumers opening the emails which could have a large impact on your eventual ROI.
This also applies for other types of campaigns. For example, if you are buying leads to send into a call centre then you want phone numbers to be correct etc. Of course, many lead providers have an ‘invalid’ lead policy whereby advertisers can get refunded for these types of invalid leads. Advertisers leave feedback on each lead and ‘invalid’ leads are processed and refunded. Some suppliers even have pre-submission validation where invalid leads are screened out in real-time before they are even sent to the advertiser. Usually, lead providers have a mixture of both.
The other interesting thing about “contactability” is that capturing more contact fields on a lead capture form is often a good proxy for lead quality. For example, even if you only need the email address of a consumer, by requiring the consumer to submit their phone number as well you are more likely to make contact with the consumer.
As a general rule, the more leads you contact, the more you will convert and the greater your ROI from lead generation.
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