"Lead Scoring" - anybody using it??

[Chris Cachor]

I'm in a different market now -- but here's another company similar to Polk -- Lead Verification & Lead Scoring with Predictive Analytics It's kind of sick how much data these companies build around your behavior, but they do work -- and very well. They market is as predictive analytics.

If you purchase large amounts of data I'd run it through this to keep the lead quality high and tell your lead providers to stop sending crap data.

 

[Jeff Kershner]

Eddy, I'll jump back in here when I have more time (I have been working with Polk lead scoring for years) BUT until then I wanted to make you aware and the community aware of a timely Webinar.

The Webinar will also tie in how HookLogic uses the lead score to then incentivise the customer to increase you dealers Lead to Show.

I would encourage anyone that's interested in how lead scoring works and how it can be applied to check out the Free Webinar this Friday.



Polk Lead Scoring makes dealer incentives more effective.

Attend this complimentary webinar, where Mark Pauzé, Polk Senior Solutions Consultant will discuss how Polk Lead Scoring works with HookLogic's incentive program to drive the best automotive prospects to your dealership.

AutoHook Advanced User Best Practices Monthly Webinar
Friday, March 16, 2012
11:30 a.m. - 12:30 p.m. EDT

Register now.

Read "Polk to Discuss How Polk Lead Scoring Makes Dealer Incentives More Intelligent and Effective" to learn more about the our Lead Scoring process and the webinar itself.

 

[eddyshaf]

Jeff - Already signed up when I recieved the monthly newsletter from Metter today

 

[eddyshaf]

Edward, I don't buy leads so I'm confused. If a lead scores poorly, you don't have to pay for it? I haven't seen that in any contracts. I also want to provide leads that close at a high percentage rate. My benchmark is over 15%. If a third party lead provider can promise that, I want to talk.

I live by the ROI report. My experience with third party lead providers is pretty consistent around 3 to 6%. The same ISMs working leads from the manufacturer, our website and display advertising averages over 15%.

Doug - I guess now I am confused - when I refer to Third Party Leads (which close at a pitiful rate) I am referring to leads purchased from the various aggregators. Perhaps your OEM purchases them for you or runs the program that delivers them to you, but the only way to get Third Party Leads is to pay

And I don't know exactly how lead scoring works - what I am interested in is somehow getting out of the crap lead business and into the quality lead business - if an aggregator and a lead scoring company worked together the way I envision, then the only leads that would hit my system would be those that were scored highly - I don't even want to see the ones that are scored poorly - I am sick and tired of doing the aggregator's job for them via the lead return process - it is inefficient and is leading me down the path of shutting down all third party leads...which does not instinctively feel like good business...

 

[Chris Cachor]

eddyshaf, there's multiple ways to craft a strategy around this. If you're buying leads from multiple sources on a per-lead basis, you want to score the lead as well as the source. Poor scoring lead sources would be eliminated in favor or better scoring sources that you can buy more from. However, if you're getting leads from monthly subscription services and 10 cost the same as 20, you want to score the leads and work the high quality first. So far, I've learned that lead scoring services really get utilized when companies start having lead quality problems and buy leads at a heavy volume. As for how this technology works -- this is just a tip of the iceberg but a interesting read: http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html

 

[ddavis]

Doug - I guess now I am confused - when I refer to Third Party Leads (which close at a pitiful rate) I am referring to leads purchased from the various aggregators. Perhaps your OEM purchases them for you or runs the program that delivers them to you, but the only way to get Third Party Leads is to pay

And I don't know exactly how lead scoring works - what I am interested in is somehow getting out of the crap lead business and into the quality lead business - if an aggregator and a lead scoring company worked together the way I envision, then the only leads that would hit my system would be those that were scored highly - I don't even want to see the ones that are scored poorly - I am sick and tired of doing the aggregator's job for them via the lead return process - it is inefficient and is leading me down the path of shutting down all third party leads...which does not instinctively feel like good business...

Edward, I don't buy leads from any third party source including the factory. Trust me, I pissed off a lot of people at Nissan when I refused to buy their third party leads, at my old store. "it is inefficient and is leading me down the path of shutting down all third party leads...which does not instinctively feel like good business..." I reached that point a number of years ago and haven't purchased a lead since. I don't want to change the direction of your thread. I'm glad you are posting and have become a part of the community.

 

[Alex Snyder]

I'm a big fan of Polk's Lead Scoring. It gets misrepresented as a "ability to buy" scoring mechanism, but it is actually a "likelihood to purchase in time" scoring mechanism. It does factor in purchasing capabilities of the consumer, but that's beside the point.....how do you use it?.....

As a process throttling piece.

Most of us are not adequately staffed to properly handle the number of Internet leads coming at us every month (if you are receiving more than 150 leads per lead handler, then you're past the average ratio). Enter lead scoring. By providing a score up to a 10 (going to buy a car this week) you can scale your messaging and follow-up phone calls according to the score. A 10 should get a lot of calls while a 4 can get more automated emails with light calling in order to make sure your staff isn't overwhelmed.