We are right in the middle of the great British summer, which really only means one thing – Wimbledon! I was fortunate enough to attend Wimbledon 2017, day 1 with centre court seats. Andy Murray was returning as champion (and hen won!).
Like Andre Agassi, he (Andy) is famous for his powerful return of serves. In today’s game if you are weak at returning serve, it can cost you the match. This got me thinking about the importance of efficient return handling in the lead generation industry, which we like to think LeadByte does well.
What are returns?
Returns (also known as scrubs) are leads that lead buyers reject after they were initially acquired. The reason for a return can vary and for the majority of cases is expected according to the terms set out within an IO (insertion order).
For example, a lead may be marked as returned if the customer changed his/her mind about a product or service or if the phone is disconnected (something that can be avoided using validation services).
How can a lead management platform help?
Without the right lead management platform managing returns can be a time consuming and frustrating process for both the lead buyer and lead seller.
Prior to using LeadByte, many of our clients would be familiar with having to match returns listed on CSV files with leads sold and having to recalculate financials to balance the books (manually). An administrative process that can take hours to sort and is prone to human error.
LeadByte manages the entire process once a file is loaded or a return is submitted against a lead from the portal or via the API. The process varies dependent on whether you are a lead seller or lead buyer but let me explain!
Managing Returns (Lead Seller/Agency)
Let’s assume you have a network of suppliers that generate leads for your client (lead buyer). Suppliers are commissioned when a lead is sold, but may be subject to returns. Leads are generated and delivered to the client in real-time. Every Monday your client sends you a file with all LeadID’s that have been marked as invalid and therefore to be returned.
000’s of leads are returned every month, which means you need to reflect the adjustment in your financials and report back to your suppliers the leads that have been returned (and why).
With LeadByte, you or the client can upload the file and at the click of a button leads to be returned will be matched, financials adjusted and reports updated automatically.
What would usually take hours to sort can be done in minutes!
Managing Returns (Lead Buyer)
Upload your returns, select leads individually or hook up your CRM / dialler with LeadByte’s API to return leads. Your suppliers are notified and leads can be downloaded; simple as that really.
We recognise that not all returns are genuine so within LeadByte we provide you (the lead seller) with the control to make returns at buyer level subject to approval / sign off. This is common with many of our clients that trade low volume but high value leads. When a return is submitted you can approve or reject (with a reason). As a lead seller, you are notified about the return(s) and in turn, the lead buyer is notified when you reject the lead being returned.
A really fast serve can take as little as 1 or 2 seconds to make it across the net, giving you hardly anytime to calculate where it is going once it is served. Manually handling 000’s of lead returns and calculating the adjustment without a reliable lead management system can take hours every week!