Welcome to 2008! Time to reassess all your assumptions and set blockbusting goals for the New Year. I am guessing, if you are visiting Lead Critic to start your year, that smarter lead buying and higher lead conversion rates are centerpieces to these new goals.

I thought I might lend a hand by taking a deep dive into what makes an Internet lead and why you should buy them.

The topic is far more complex than a simple blog post. To tackle the full scope of the topic I have linked to my “What are Internet Leads and Why Should I Buy Them?” whitepaper, which is free. You are also free to distribute and republish as long as you appropriately attribute the content.

However, until you download and read that here is a quick bonus to tune up your 2008 lead buying:

1. Learn to generate some of your own leads

This will help you gain an appreciation of how difficult it is, yet establish a framework to catch a few fish

2. Due diligence any lead provider you use

Google their company name(s) and any associated domain names, search Better Business Bureau and Duns & Bradstreet

3. Publicly survey their marketing

Google keywords relevant to your products and services, visit their websites or directories, survey relevant popular destination and news sites.

4. Ask to see sample landing pages and contact forms

You are looking for what the consumer might expect after submitting on these forms. Construct scripts and sales processes to meet or exceed these expectations

5. Get a general understanding of where your lead provider locates their lead generation efforts

High profile media buys (Yahoo!, MSN, New York Times), organic search, paid search, own web properties, vertical search engines, blogs, etc.

6. Determine how your lead provider sources the majority of their consumer traffic

organic search, paid search, banner ads, email campaigns, link exchange, affiliates

7. Triage and pre-qualify lower quality and higher volume leads.

Outbound calling has a high rate of burn out. Use a contact team to pre-qualify and reward higher producing loan officers.

8. When you find good lead providers listen to their counsel

No one knows more about the marketing that produced your purchased leads and what their successful clients do to convert them. Listen.

9. Measure. Analyze. Optimize.

Success is all about the metrics to find you sweet spot, perfect the process, and then blow it up!

10. Never buy leads without a way to manage leads

See number 9. Even small lead buys can mount into significant pipelines and databases that can yield even larger gains when nurtured over time.

Visit next week for: “Creating a Lead Buying Marketing Plan”

Here’s to your success in 2008!