It takes great wit, skill, and labour to effectively generate leads. But all that effort could be for nought if you are not distributing your leads to the right destinations. The process of strategically distributing one’s leads is known as lead routing.
Depending on the size of your business, lead routing can be a significant undertaking—involving multiple destinations and possibilities. In this way, it is not unlike the London Underground, the massive transport system that is approximately 249 miles long, connecting 270 stations and using roughly 4100 trains.
Much like an efficiently operating Underground is critical to keep the city of London in business, lead routing is vital for those who hope to find success in the world of lead generation and performance marketing.
What is Lead Routing?
Lead routing begins with marketers who are generating leads across one or a variety of channels. When a marketer is generating a higher volume of leads, it becomes necessary to employ a lead management system to organise and distribute those leads.
Lead routing is the practise of using strategic automation to send leads to their optimal destination based on a multiplicity of factors. Traditionally, the main objective of lead routing is to transport leads to the businesses who will see the most value in those leads—often leading to those leads being purchased at a competitive price.
This process of intelligent lead distribution can often include the use of ping tree technology. A ping tree allows a lead to be shown to one potential buyer, who has the option to acquire the lead or pass. If they pass, the lead “moves down” the ping tree to the next buyer in the queue. This continues until the lead is purchased.
Why Lead Routing is Useful
Like a Underground that is clean and on-time in London, an efficient lead routing system will benefit multiple parties.
Marketers
For the marketers who work tirelessly to generate leads, lead routing is integral to achieving a high return on investment. It means that they are able to share leads with those businesses who have the highest interest in their leads first. As a result, high-quality leads are more likely to be sold at loftier prices because of their value to the buyers.
Advertisers
The advertisers who are acquiring leads find value in lead routing with ping tree technology because it allows them to get a “first look” or “early look” at the leads that are most relevant to them. It then becomes the choice of the advertiser to accept or reject a lead at a certain price point. This ability to choose from a selection of high-quality leads is very attractive to direct advertisers.
Consumers
The consumers who are filling out forms or making calls are also benefited by this system of lead routing. Because ping tree technology uses strategic routing, the consumer is in position to get connected to the business that is best equipped to serve them. Rather than having to perform an exhaustive search, consumers are presented to multiple vendors for whatever they are looking for: insurance, home service work, financial services, or other businesses. By being connected quickly, the consumer has a favourable customer experience.
Lead Routing Solutions
In order for lead routing to work, businesses need a superior lead management system. LMS SYNC from Phonexa, offers all the tools marketers need to track, manage, and route their leads.
Any purchase exploration of a lead management system should ask the following questions:
- Do I have optimised lead routing to ensure a high return on my marketing spend?
- Can I access reports that are simple, efficient, and useful in making data-driven decisions?
- Am I able to filter my leads so that my business exclusively routes leads that are high quality and close to conversion?
- Does my lead routing ensure a smooth and successful customer journey?
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