November 22, 2022Does Your Data Ever Hit the Floor? Here’s How to Remonetize Failed Leads

Does Your Data Ever Hit the Floor? Here’s How to Remonetize Failed Leads

We see it all the time from lead-gen newbies — they fire up a lead-generation form, buy traffic to the page, and expect to make a killing. Instead, these hopeful individuals end up generating lots of leads that fail to meet the primary buyers’ specifications and just a few that do. When the numbers don’t pan out, the user gives up and takes a loss.

What’s the lesson here? Generating a lead involves a lot of costs, and if you can’t sell most of the leads you produce, you’re relying on a small minority of them to carry your business. That reliance will be reflected in your prices, which can quickly balloon up and exceed your buyers’ budgets, putting your leads at the bottom of the list in terms of desirability. The solution? Find a buyer for as many leads as possible — including the misfits.

Even a campaign focused on producing premium leads will see variable quality. Take a vertical such as solar, where an ideal consumer needs to own their home, have a relatively new roof, consume a decent amount of electricity, and have a property exposed to a significant amount of sunlight. Even when the prospect has a strong desire to purchase a solar array, if one of these criteria is missing, installing panels might not make sense. To ensure these leads don’t “hit the floor,” or go unmonetized, you need a plan for your failed or disqualified leads from the beginning.

Selling to Floor Buyers

Just because a lead isn’t a good candidate for solar doesn’t mean the lead is worthless. Solar installers certainly aren’t going to be interested, but knowing that solar isn’t a good option could make the lead more valuable for a company that offers energy efficiency upgrades such as new windows, Energy Star-certified appliances, attic insulation, and more. If you’re generating solar leads, you should also have these alternate buyers lined up to take your disqualified data. You can route it to them using standard filters in Lead Prosper, but it’s often a good idea to create an entirely new campaign for these buyers to gain additional control over the process.

For example, maybe you find two floor buyers who will purchase leads whose fully shaded roofs disqualified the customers from a solar offer. Creating a remonetization campaign in Lead Prosper will allow you to distribute leads to these buyers in a Round Robin format, giving you the opportunity to build a relationship with both of them simultaneously.

To get leads from the original solar campaign into the remonetization campaign, you’ll use what’s called a Campaign Trigger — the trigger will be a failed or disqualified lead status, and the action it produces will be posting those leads into the second campaign. You can learn more about how to set up a Campaign Trigger by watching the video below.

If you take away one thing from this article, it should be this: when you buy or generate a lead, you’ve spent money and gained valuable consumer information that plenty of businesses want. Track those businesses down, and the myriad tools available in Lead Prosper will ensure each lead makes it to the right place.