We’ll inform you of the reality of lead generation services nowadays. Several of these so-called “Lead Generation Services” are available, but have you ever questioned what they provide? Why do several of them offer comparable packages at various price points? Does their agency currently outperform your website, thanks to some special sauce?
When choosing a lead generation firm, various marketing and retail conferences in 2022, such as the Marketing 2.0 Conference have advised asking as many questions as necessary. Hundreds of businesses promise to use internet strategies and enrichment campaigns to help you generate high-quality leads for all your demands. Still, alas, the majority fail to live up to their promises.
You’ve undoubtedly provided your contact information online, for example, to learn more about a job opportunity. Usually, this is alright. However, you can be looking for one thing and get another, like calls regarding something you never asked for or looked for.
Lead generators are companies that amass your contact information and then sell it to marketers so they can use it to promote their goods and services. Some lead generation companies are open about how they utilize your information. Still, others may trick you into giving it to them without your consent to benefit from it.
What Kinds Of Problems Does This Bring About For Companies?
On the fronts of analytics, revenue, and operations, invalid users within a funnel might result in several issues. Here are some instances of the damage discussed at the Marketing 2.0 Conference:
Excessive CRM Bills
The number of contacts determines the cost of many CRM systems, and even large bills can be worthwhile if all connections in a particular system are consumers or potential customers. However, when bots and false users contaminate a CRM, the business pays more for contacts unable or unwilling to convert to actual paying clients.
Conversion metrics with a bias
Conversions are one of the various KPIs that go-to-market teams use. This indicated the rate at which site visitors convert to leads or customers. However, if invalid users are inadvertently identified as genuine leads, conversion rates are distorted, distorting the organization’s perception of reality.
Expendable sales time
To assess interest, determine whether the product is a good fit, and maybe land a new customer, sales teams frequently invest a lot of time in nurturing and following up with leads. It is not just a waste of time if bots and phony users take up even a tiny portion of a salesperson’s day. Still, it may also prevent businesses from earning potential money because it limits their time to sell to those with a genuine interest. Research has revealed that sales labor costs for invalid leads squander $115 billion annually.
Taking Action To Stop Lead Generation Scams:
To get started, you can do the following things:
Use reCAPTCHA and CAPTCHA.
In the past, one of the main strategies noted by global marketing events in 2022 for preventing bot traffic on the internet was CAPTCHA, the fully automated public Turing test to distinguish between computers and people. It would prevent users from clicking on or completing forms until they had solved a riddle (usually a letter jumble with bizarre text fonts, but this was later changed to an image recognition test).
This approach has the drawback that more intelligent bot programs can always get through even the most complex CAPTCHA systems. Even worse, it does little to stop human scam farms from filling out bogus forms.
Utilize Honeypot Form Fields.
A field in a form known as a “honeypot” does not appear on the actual webpage and is therefore hidden from human users. The form can be seen in the web page’s code, nevertheless. Bots attempt to fill out the honeypot field when they come across it since a human user would never fill out the concealed form field, this aids in identifying bots.
The problem with this preventative strategy is that, once more, it does not affect lead generation scam that originates from human scam farms.
Follow Your Data for Marketing
Keep a tight check on your marketing stats to spot any issues with lead generation. It’s a solid sign that you have a scam issue if you experience an abruptly huge spike in leads generated yet a stable or declining rate of sales closed.
It could be time to stop using that traffic source if you gather data on these problematic leads and discover that they all originate from the same place (perhaps an individual affiliate marketing partner).
The main problem with this approach to preventing lead generation scams is that it focuses more on being reactive than proactive. As you gather enough data to make a choice, you have to wait while scammers steal a sizable portion of your money—and that information collection process might cause a significant delay.
By the time you have conclusively recognized a scammer, they may have already closed their online store and fled with your money.
Scammers always devise novel techniques to steal advertising funds. Therefore, the key to your success in lead generation campaigns is understanding the typical, telltale symptoms of scams discussed at global marketing events such as the Marketing 2.0 Conference. Work with your partners and tracking platforms to find and stop scams by being proactive and diligent.