What is a Lead?
It’s worth revisiting this question from time to time. As this article on LeadCritic points out, the industry is growing quickly and to not know exactly what we are talking about when we talk about a lead is a mistake. The article differentiates a lead from an impression and a click. Specifically, a lead is an individual who takes a required action, usually a mailer, a web form, or a phone call towards an advertiser to express interest in an offer. This definition reminds me of a definition of lead that I heard in a partner interview where he visualized a lead like this, “You walk into a room full of people, you ask, ‘Who’s interested in this widget?’ The people who raise their hands are leads. Buying a lead is not buying a sale.”
It is tempting for buyers of leads to further define what a lead is. Lead buyers, faced with a close rate that they wish were higher, look everywhere to improve their results; motiviating their sales staff on one hand, and seeking ‘better’ leads on the other. It is their hope, or even expectation that leads they buy meet some additional set of criteria beyond just having an interest in your offering. This is understandable. How could a salesperson be expected to want anything other than great leads, leads that lead to deals? Of course they do. Given that demand, there is of course someone to fill it. Some companies are providing ‘transfers’ which differ from normal leads, in that they are pre-qualified. Buying ‘transfers’ separates the wheat from the chaff and puts hot opportunities into the hands of sales agents.
Whether the leads you are buying are traditional, unqualified leads or prequalified transfers, you will need lead management software to make sure that the leads you acquire are worked with the highest degree of efficiency, insuring the highest possible ROI.
