Hey, fellow lead-hunter!
Ever felt like pulling your hair out (or maybe someone else’s) because you were drowning in a sea of, let’s be frank, useless leads? Maybe they had no intention of buying or didn’t fit the criteria, or worse yet, had no clue why they even filled out your form. Oh, the frustration!
I feel you. In fact, the cries for help have been loud and clear. Your messages reached me – the pain, the agony, the desperate need for quality leads!
Let’s dive right in, shall we?
Why Are You Stuck With Low-Quality Leads?
The list is vast:
1. Not matching requirements (round pegs, square holes)
2. Ghosting after first contact (can’t catch a break!)
3. Lacking intent
4. Cluelessness (didn’t read your page, but hey, let’s fill out a form!)
5. Lost interest midway
6. Found another, maybe shinier, vendor
7. … and, many, many more.
But let’s cut to the chase: it’s all about congruency! You don’t want just anyone. You’re looking for that perfect someone who’s in that ideal stage of their life, ready to take action. Someone you can gently nudge, and they’re all yours.
And while we’re at it, let’s address the elephant in the room: the eternal tiff between Sales and Marketing. We’ve all been there, where sales heads blame poor conversions on poor leads. It’s a classic, right? How many times have you imagined a world sans the sales head? (Haha, don’t worry, I won’t tell.)
Seeking Revenge? Here’s How!
Revenge is best served cold. And in business, it’s served with quality leads that leave the sales team speechless. But, how?
Let’s put on our thinking caps and explore the car finance industry to unpack this.
The secret sauce? Friction. But just the right amount.
Imagine this: You’re trying to protect a castle (your brand). You don’t want every wandering peasant (low-quality leads) entering, but you also don’t want to keep away knights in shining armor (quality leads). The drawbridge (your lead form) is your first line of defense. Too easy to cross, and you’ll have everyone inside. Too tough, and you might miss out on those knights.
Finding the Balance: Increasing Friction Without Losing Leads
Here’s a quick guide:
To illustrate, let’s use the car finance industry as an example to explain how to enhance lead quality.
Ad Set Level
1.Headline and Copy Tests
2.Mention specific requirements: for instance, driving license, age, nationality, etc.
3.Highlight higher monthly amounts: Focus on more expensive cars to attract those with a greater spending capacity.
4.Copy Style / Language:
- Utilize candid copy, e.g., “Yes, we are pricier than your average dealer, and our APRs start from XYZ. BUT, we offer ABC…”
- Avoid sensational language. Use the Hemingway app to elevate the grade level of the writing, making it less accessible to a younger audience.
5.Button Tests: While “Apply Now” has high intent and might improve lead quality, this isn’t always true. Consider alternatives like “Shop Now” or “Get a Quote,” which have been effective
Creatives
1.Similar to ad copy and headlines: Shift focus from collages or inexpensive weekly cars to those with higher monthly costs.
2.Comments Thread: Incorporate comments in the ads specifying who you cater to and who you don’t. Ensure the language is amiable but direct, clarifying the target audience.
Landing Page
1.Restrict users under the age of 25 from applying.
2.Augment the copy on the landing page before the application process, highlighting who you cater to.
Data
1.It might be necessary to consult the client, but collecting decline data can be instrumental in fine-tuning creatives and copy. Seek details such as:
- Age range
- Type of driving license
- Employment status
- Annual income
2.Suppression Lists: Acquire a list of all their rejections and exclude them using custom audiences, which can be beneficial.
By applying the right kind of resistance, you sift out those who are genuinely interested. When approval rates drop, it indicates a surplus of unqualified candidates. The trick is in the balance.
But Even After Doing All This, If the Sales Team Is Still Not Buzzing…
Act Promptly: Track when leads come in and when they’re contacted. The golden time is within an 8-hour window.
Listen & Learn: Review those call recordings. Discover the real reasons leads are dropping off or converting.
Streamline the CRM: Maintain clarity. Everyone should understand why a lead said no without having to decode complex sub-statuses.
Be Proactive: Maintain a daily ratio of yet-to-contact to number of leads. If the ratio keeps increasing, it’s time to confront the sales head.
Educate: Sometimes, it’s about helping the sales team understand the market better. Regular feedback and insights can help bridge any gaps.
In conclusion, the journey to top-notch lead quality is a dance of balance. Too much friction, and you risk losing good leads. Too little, and you’re inundated with low-quality ones. Remember, it’s a continuous process of tweaking, testing, and optimizing.
Looking forward to hearing your success stories! Until next time!
Stay proactive, and stay awesome!
Sannidhya