Are you looking to leave the world of direct post lead purchasing and enter the world of ping-post? Perhaps you are already in this world but need help increasing efficiency and efficacy in your lead purchasing strategy.
Savvy marketers understand that an enhanced lead bid strategy allows them to mitigate their opportunity costs by identifying the highest-performing lead sources and stopping the purchase of leads that don’t fit their criteria.
Financially, the incentives are even greater. With an optimized strategy, you can begin saving money by only buying the right leads at the right price and make more money by pursuing the leads most likely to convert.
However, the benefits of a ping-post distribution system extend beyond the narrow purview of the buyer; lead sellers and the lead itself (consumer) are equal beneficiaries in this process. But before we discuss all of the benefits, let’s first address and break down what a ping-post lead bidding strategy looks like and then discuss the benefits associated for consumers, sellers, and buyers. Lastly, we will discuss how TrustedForm Insights is striving to further empower buyers in the lead-bidding world.
What is Ping-Post?
Ping-post is a method of selling leads based on providing (or “pinging”) potential buyers with partial lead information and allowing potential buyers to bid on the lead. The selected buyer or winner is then given (or “posted”) the rest of the complete lead data.
For example, whenever a lead vendor has a lead they want to sell, they ping potential buyers and provide them with partial data information about the lead. Based on that partial information, the lead buyers submit bids to purchase the lead. The lead vendor will then select a buyer–or buyers–and post the lead to them with complete lead information.
Compared to direct post, a ping-post lead bid system is more protective of user data information and is a more efficient and profitable process for lead vendors. For lead buyers, they know that with increased insight, they can make real-time decisions on which leads to purchase based on their sales-conversion probability.
Furthermore, with the use of key data points, lead buyers can make informed decisions and greatly lessen the amount of leads they reject and return to the vendor after post. Lessening post rejections is desired by buyers and sellers because to buyers, the more leads you reject from a specific vendor, the less likely that vendor is to post leads to you in the future. For sellers, it is a waste of time, resources, and effort if leads are continuously rejected and returned.
This lead bidding system is one of the most powerful methods of buying leads, and the practice is only expanding. Originating in the insurance vertical with great success, ping-post lead distribution is now used prominently across several different verticals due to the benefits provided to all parties involved.
Benefits of a Ping-Post Lead Bid System
Consumer / Lead
Consumer protection and privacy should be the top priority for all lead sellers. In a ping-post system, consumer information is better protected and less accessible to unqualified companies. With ping-post bidding, fewer companies have access to a lead’s contact information, which subsequently means fewer companies are able to store a lead’s contact information. Consumers only want to be contacted by companies that can meet their needs, and with this bidding system, only the most qualified companies will be eligible to do so.
Lead sellers are able to more efficiently sell leads because they are able to circumvent the discordance associated with direct post selling. By navigating through the ping-post sales process, lead sellers are able to maximize the purchase price and therefore the revenue of every lead. But most importantly, this bidding also allows sellers to operate more ethically by withholding valuable information on every lead from potentially unqualified buyers.
In a ping-post lead bid system, buyers have more power and control over how much they spend on a given lead. Based on a buyer’s lead purchasing strategy, they can make informed decisions and appropriately bid on leads that align with that strategy. A lead bid system allows buyers to maximize every dollar in their marketing budget and only bid on leads that fit their established criteria.
However, the challenge in ping-post bidding for buyers is quickly identifying the most relevant information for potential sales-conversions, and lowering the number of rejections given the limited lead information provided on the ping.
Know More About Your Leads with TrustedForm Insights
TrustedForm Insights is a service that provides marketers the capacity to gain a deeper understanding of leads and allows them to determine the quality of leads and optimize buying strategies.
TrustedForm Insights can help vet the leads fully before purchase and allow you to start identifying and understanding the attributes of an ideal lead. Furthermore, you will feel empowered by utilizing this data to increase the actionability of your leads.
TrustedForm Insights data include:
- Originating domain
- Time on page
- Geolocation and IP address
- Lead Age
- Browser, device, and operating system
An example of these insights being utilized would be using lead age to prevent you from bidding on aged leads or using originating domain to bid more on domains that have been revealed to have high conversion rates.
TrustedForm Insights lowers the number of rejections in the post by revealing key information in the ping so you only bid on the highest quality leads. Swift, informed decision-making on the ping can accelerate your entire process.
By utilizing TrustedForm Insights in a ping-post lead bid system, you can optimize your lead purchasing strategy, increase efficiency, reap the benefits, and make sure you are buying the right leads at the right price.
Get started with TrustedForm Insights today!