We’re pretty excited to elaborate on one of our latest features ‘Advanced Distribution’.
We’ll be breaking down this feature by investigating its three distribution methods, Weighted, Priority and our latest Hybrid. In a nutshell, Weighted Distribution gives LeadByte users the ability to weight the allocation of their leads. Previously, only Priority Distribution was available (post to Buyer 1, if fails/rejected, post to Buyer 2 and so on).
Weighted Distribution enables users to set a % allocation of leads to a panel of Buyers. The neat thing about this distribution method is that it still inherits the Priority Distribution logic, in that if a lead is rejected by a buyer, it will be posted to the next buyer in line to receive a lead. Weighted Distribution also takes into account delivery caps and rules.
Hybrid is a mixture of priority & weighted lead distribution. In short, you can create groups with both delivery types. Pretty Neat!
These Advanced Distribution methods are best used when delivering leads in real-time to Buyer API’s and scenarios that see more than one Buyer. The automation seen in Advanced distribution enables you to maximise your ROI, ensuring that you’re getting the most value per lead. We see this in many industries including the likes of Insurance, Loans, Solar Panels, Home Improvement products/services and more.
The image below shows an example of the Weighted Distribution process with 3 different lead buyers, all with different weighted allocation percentages. Buyer 1 has been assigned 60% of the leads generated, where Buyer 2 has 30% and Buyer 3 has 10%.
As the leads come in, LeadByte will validate them in realtime and distribute them accordingly based on their assigned weights. If LeadByte was to receive a set of 10 valid leads, the system knows that regardless of lead volume and/or the price each buyer is willing to pay, that it has to distribute 60% of leads to Buyer 1, 30% to Buyer 2, and 10% to Buyer 3. This would result in the following:
In the example above, the weighting allocation is perfect. In reality, this would not always be the case. Some buyers may have rules in place (accepting based on age, gender, location, etc.) and may reject leads in real-time, which will affect the balance of the distribution. To avoid an unbalance in lead allocations, LeadByte is constantly checking if the lead allocation is correct according to the desired weighting. If the weighted allocations aren’t being met for buyers, LeadByte will aim to balance the books by distributing the remaining leads accordingly.
Weighted distribution may not always be the most efficient solution for lead sellers. An example of when Priority Distribution would be more efficient would be when dealing with particular buyers willing to pay more for the same type of leads. In this scenario, Priority Distribution would allow LeadByte users to maximise their ROI by prioritising the top paying buyers first when distributing leads.
In the example below, let’s say, Buyer 1 pays the most per lead, followed by Buyer 2 and finally Buyer 3. To maximise your ROI, it would be most efficient to place Buyer 1 at the top of the priority tree. If Buyer 1 doesn’t wish to buy the lead or doesn’t respond to the request, then LeadByte would continue down the priority tree (set by the user) to offer the lead to the next highest paying buyer. A good example of this process would be to track the path of ‘Bob’ in the diagram below.
Weighted distribution inherits the elements of Priority distribution, specifically if a lead is rejected by a buyer, it is offered to the next buyer in the distribution tree according to the weighting.
🚨 New Feature: Hybrid Distribution 🚨
Need your deliveries to start as a priority and then switch to weighted if the priority fails? Then look no further than Hybrid! Hybrid is split up into groups. The lead will follow Group 1’s delivery setup first and only move to Group 2’s delivery setup if unsold.
The example below displays:
The lead will first enter Group 1 and follow priority distribution. It will try Buyer 1 first and, unless sold, try Buyer 2 followed by Buyer 3.
However, if the lead is not sold to Buyers 1, 2 or 3 it will then pass to Group 2 – Weighted distribution.
Here it will be delivered to the relevant buyer in order to maintain a 50/50 split of leads sent between Buyers 4 and 5. You can change the weighting % to how you see fit by unticking “Distribute leads evenly”.
If the Weighted, Priority or Hybrid Distribution features seem like they could benefit you and your business or would simply like more information, speak to your account manager, or request a demo by clicking the link below.