Thursday, June 14, 2007

Making Co-Registration Leads Work for Your Business.

I've always been a fan of Co-Reg Lead Generation. My only problem is - it's never really been a fan of me...I suppose.

See - while we've used co-reg to generate millions of leads for our clients - I've often been repaid in getting comments by the clients on low-quality, incentivization, and much more. So -- I decided to try something different.

For those of you who don't know - a co-reg lead is a lead where the contact info is filled in one time - and then the consumer checks off multiple offers from which they'd like to subscribe or get more information. Think the old BINGO cards of days old (and still present) for magazine publishers. Fill out one form - get many offers without all the extra work.

The problem here is that the consumer is often not very serious. They check off that they're interested in 10 offers - only to find that upon calling them the number or info is bogus or they were more interested in receiving free stuff than what you actually have to sell. This is a problem.

To counteract this - we set up an auto-dialer - so when co-reg leads feed into our database they are called within 30 seconds of submitting their info. They pick up the phone - valid numbers only - and they get an auto-message (saves on telemarketing) that asks them if they'd like to be connected with customer service. What we've found is that only 25% of folks who filled in the co-reg lead were actually valid - with the proper information and actually had an interest. The other 75%? Complete waste.

So you're probably thinking - with 75% waste, how can Co-Reg work? Because co-reg leads can be generated at often 1/10 of the price of a regular (non-Co-Reg) lead. This ratio allows - even with the added qualification costs we've built in - for a roughly 85% error rate. Bottom line is - this method allows us to generate MORE leads - of higher quality - and ultimately...have happier customers. That works for me -- any day of the week.

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