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There is a better way of improving leads and it starts by reducing the burden on the consumer

Why is this such an important topic right now? Because research suggests that lead providers need to do a better job of delivering value to their buyers. And there are trends making this more difficult, such as the big changes in consumer behavior brought on by the pandemic.

A majority of consumers tried different stores, websites or brands during the height of the pandemic, and that really hasn’t changed. People are still actively looking for new ways to consume goods and services. That is not good news for brands who invest in building loyalty, because loyalty is taking a big hit. But it bodes well for the leads space.

Except that propensity to shop around has resulted in lead acquisition costs skyrocketing. According to Measured, an ad measurement firm, Facebook increased costs by 89% year-over-year as of this past July and Google was up 108%.

So while consumers want and expect brands to understand them, they give next to nothing information-wise. How can you overcome this? By enriching leads and personalizing engagements with third-party data.

• Home Professionals had high form abandonment but needed robust information. By reducing form fields and using 3rd party data to complete profiles, they saw a 214% increase in submitted forms.
• Fortune-50 home service brand also needed more form fills. They reduced required fields and enriched with 3rd party data to increase consumer engagement by 238%.
• Another home service brand wanted to market the right consumer at the right time in the right channel. Using 3rd party to complete profiles and identify lookalike segments, they saw 25% more inquiries and 35% more conversions.

Key Statistics

• 76% of consumers say they expect brands to personalize their experience but 51% of brands are falling short of these expectations.
• Nearly 80% of internet users say they want personally relevant content from brands.
• Personalization performs 8x better than basic segmentation.