Lead Tip #4:
Is Your Lead Data Verified?

You get a lead and spend time calling them up, just to find that it's a disconnected or wrong number, AGAIN. Sound familiar? L.O.s battle bad lead data all the time.

Here's why it happens. Some lead companies are in such a hurry to get their leads out the door they don't bother screening the data they're sending you. High contact ratios don't matter to them… even though they matter a whole lot to you.

Don't let companies dump a load of bogus leads in your lap. Ask them if they verify their leads.

There are several different methods of verification, but this is generally how it works:

Leads are generated online. They enter the company's system and go through an automated process that checks the data to make sure the phone number and street address are valid. Leads that pass this test are distributed to buyers.

It's best when data is verified by a third party. These third party companies specialize in scrubbing data against U.S. Postal and major telecom records.

If leads aren't verified against major telecom and U.S. Postal records, they're not worth your time.

It does cost companies more to screen leads. But if yours does it, you know they're interested in providing you with quality leads and a higher contact ratio.

What Happens If A Lead Fails The Verification Test?

Sometimes leads with bad contact info are perfectly good. Online prospects occasionally mistype their address or phone number. Tossing out all these leads would put a dent in the volume companies can offer you. The best way a company can deliver reliable quality and volume is to televerify leads that have questionable info.

First a company representative contacts the questionable person by phone and verifies contact info and interest. Now the lead is ready to be passed on to buyers.

Leads that have bad info AND fail televerification are tossed immediately. That way when you get a lead, you have a much better shot at reaching them.

Watch out: Some companies may say "verified leads," but they really mean "you pay extra." They have no problem charging you a premium to ensure their leads have valid info. Make sure you're not paying a surcharge just to get an honest shot at reaching a lead!

Remember, no company can catch EVERY lead with bad data. But you shouldn't keep getting stuck with big piles of them. Why should you weed out bad leads yourself, when your lead company should handle it for you?

Questions To Ask Your Lead Company

1. Do you verify leads? How? Is data checked against telecom and U.S. Postal records by a third party?
2. Do you televerify leads with questionable contact information?
3. Is their a surcharge for verified leads?

Jeremiah Desmarais is the Vice President of Marketing and oversees the educational and marketing efforts at ProspectZone. ProspectZone is a leading provider of internet leads to the mortgage industry, and the creators of Smart Leads™. He and his team are recipients of 3 awards in 2006 from the Web Marketing Association, Marketing Sherpa and the Interactive Marketing Association for their marketing and design initiatives online. He is author of several white papers and has been a contributor to national trade publications as well as a guest speaker at various national events and workshops. He is a member of the Society of Industry Leaders. Reach him at jdesmarais@prospectzone.com or 1-800-980-0902.

Share the knowledge:
Would you like loan officers to learn about the latest mortgage lead generation tactics and insider news in your own publication? So do we! Please contact jdesmarais@prospectzone.com to inquire about reproducing our content.