Why use Lead Management best practices and tools? Real estate professionals should leverage the internet and social media for real estate lead generation and lead tracking and management software tools to nurture, engage, follow-up, and convert prospects to customers.

Here is the slide deck from the presentation made by Jonathan Nicholas for a leading real estate organization. He captures the gist of internet marketing for real estate agents and brokers in this short presentation.

Though this presentation is with reference to lead management for real estate professionals, real estate lead generation and internet marketing, these concepts can be used by any marketer / organization generating / buying internet leads such as Insurance agencies and Mortgage agents, brokers and loan officers.

Obviously, you are buying internet leads right now or planning to buy leads in the near future. Otherwise you may not be on this lead management resources blog post. I keep hearing all the horror stories of buying leads and getting burnt. In fact, some of them who took a plunge by pumping lot of money into buying leads may have realized that running a business with leads generated on the internet is not an easy task. I hope that these stories are exceptions rather than wide spread events.

Just like any other business initiative, buying leads from external lead generation service providers also comes with its own inherent risks. However, the rewards are multi-fold, if you know what your are doing, have done the research, and following the rules.

Here are 10 secrets that everyone buying internet leads from lead providers or on the verge of getting into the game should know, understand and practice methodically.

1. Learn to generate some of your own leads: Well, unless you have been in the trenches, you would not have known the tricks of the trade. Whatever theoretical knowledge that you gain may not give you the depth of the understanding that you gain from actually doing lead generation. This is not to advise you to deviate from your core business practice and get into internet programming or avoid outsourcing. Once you understand the basic technology and issues in internet lead generation, you will become a pro in lead buying.
2. Evaluate the Lead Providers: Before handing over big chunks of money to lead providers, do evaluate a select list of providers. There are several resources both online and offline. Keep in mind that Big need not be Better always. In fact some small providers may be nimble, proactive and cheap!
3. Research on the Internet: Do your homework using the Internet. Compare the lead providers in your vertical. Whether you are in Debt settlement, Loan modification, Mortgage services, Insurance, Education or some other niche you can find many competing service providers.
4. Assess Lead Provider Website Resources: Most lead providers will have lots of information on their websites. Spend some time on these sites and understand the differences within various companies.
5. Study Lead Generation Methods: As mentioned in Step 1, if you know what it takes to generate leads, you can ask all the right questions. Review their lead generation sites, landing pages and registration forms. Understand the implications of collecting leads using various methods such as co-registration and incentivization.
6. Analyze the Landing Pages: Make sure that the content and instructions provided on the landing pages work for your business. Analyze the data collected as part of the lead capture and assess if it will work for your business scenario.
7. Focus on Quality of Leads: Unless the leads you buy convert in significant ratio, there is no meaning in buying boat loads of leads; your sales team will be frustrated and overwhelmed. Evaluate if you can buy pre-qualified leads and see if it will be cost effective. Understand the validations and verification procedures employed, if any, by the lead provider.
8. Decide: Exclusive or Shared leads? Exclusive leads will be pricey, but the conversion rates may be higher. Note that many lead providers such as mortgage, debt and insurance lead providers may not provide exclusive leads and may force you to choose Shared leads.
9. Recognize and utilize Good Lead Providers: You may have noticed some of the lead providers, even if they are new or small, will be better than others, easy to work with, flexible and provide great service. Recognize them and try to leverage their knowledge in lead generation industry and their experience with other customers.
10. Track and Manage Leads effectively: Do not start buying leads, unless a you have a internet sales lead tracking software system in place and understood what you can do with it. With lead management system, you can collect leads from lead providers directly, assign to your sales agents / reps, track the sales progress, and measure the performance in term of  lead conversion, agent productivity, and business results.

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Lead Response Management is the process of responding to and managing the inquiries / sales leads in a timely, consistent fashion. While choosing and deploying a Sales Lead Collection, Tracking and Management software system will help you in the process, this alone will not result in lead conversion. The business lead management software is just a tool in the hands of a marketer which helps to capture leads from internet and other sources, route to sales reps, provide real time alerts and management the sales process. Lead Management includes lead response management phase.

Lead Tracking and Management Processes

In the era of Internet Lead Generation and sky high expectations from the consumers and prospects, it is essential to equip yourselves with resources and lead management processes for achieving a great sales conversion rate. Here is set of great resources on lead response management and allied areas, including research studies from MIT and Kellogg.

http://www.leadresponsemanagement.org/research

If you are converting the leads for your business, then effective lead response management is a critical phase of your marketing and sales process.

If you are an internet lead generation company and distribute the captured leads to the buyers, it is essential to deliver the prospect information to the end buyers in real time using a lead collection and distribution software system as the delay in response will result in lost customers.