The lanscape is changing, If you Buy or Sell leads in the USA, you need to be sure that you are up-to-date with what is happening and how this may impact you.
The recent FCC order has sparked significant debate and apprehension, particularly regarding the mandate for a single consent mechanism for both lead sellers and buyers. While the order primarily focuses on SMS messages and robocalling, it is widely acknowledged that the proposed changes will fundamentally alter the landscape of lead generation, especially in terms of consumer consent.
After observing a similar occurrence in the UK, we are now witnessing a similar trend emerging in the USA. Over time, many businesses within the industry have been stretching the limits regarding consent acquisition. Consequently, this has resulted in a surge of low-quality leads and eroded consumer trust in consent-based offers, primarily due to subpar experiences. These leads are frequently resold, leading to an excessive influx of calls and texts for consumers, ultimately resulting in diminished contact rates and decreased conversion rates for buyers.
This is what we know and what we (LeadByte) think so far...
🗓️ The ruling decision will be made on the 13th December.
⏳ Change will be enforced by August 2024, allowing time to prepare.
🚫 The ruling mandates no buying or selling of leads without explicit consent.
🤝 Co-Registration should be acceptable, co-sponsorship not as much.
🔄 Re-selling aged data is not advisable.
🏓 Ping-Post will be affected (customer experience + tech).
🔄 Decision algorithms will need adjustment.
📢 Lead sellers must improve consumer opt-in persuasion.
🧰 Tech needs to adapt to support the changes.
📈 Lead Buyers and Sellers must elevate their tech and customer journey.
💼 Customers will enjoy a better experience.
📞 Lead Buyers can expect increased contact rates and conversions (better engagement).
💰 Lead prices are likely to rise.
We will loop back on this after the 13th as well as outlining how LeadByte supports the requirements for Lead Sellers and Lead Buyers now and in the future. We hope this information will help you consider, think and prepare for the upcoming changes and continue to grow your business.
Here are some articles and debates that we think are worth reading:
https://www.linkedin.com/pulse/fcc-consent-changes-chaos-creates-opportunity-your-poppenger--wzl5c/
https://www.linkedin.com/events/important-tcpa-fccbreakdownofne7137909114151567360/