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I think it is time to start recognizing lead generation companies, individuals, or groups that take initiative to make the industry a better place.
It is unfortunate, but the fact is there are companies in every vertical that use unethical tactics to make a quick buck. These companies typically go nameless, because frankly put, they know how to work the system so that they go unnoticed beyond simply having poor quality leads. If you are a lead buyer, you are probably working with one directly or indirectly. Most people do not have the way or means to out these companies publicly. Plus, unless you are an insider you have no real proof that they are intentionally trying to scam people, because it is so easy to chalk it up to a mistake. This means we are stuck leaving Karma to police our industry and trust me I believe in Karma, but in most cases Karma is not our most timely option. With that said, what I think we can do is formulate a way to recognize people or companies that make an honest difference in our space. Companies/people that don’t simply drive quality leads or provide an excellent software, but they make strives to better our industry or better represent our industry to the public.
The TARGUSinfo Lead Quality Summit (now called the Interactive Insights Summit) used to, and maybe still does, recognize companies with the “Online Marketing Excellence Award”. It was never clear to me how these winning companies were determined, but nonetheless there was an award recognizing top lead gen companies. I think the time as come to create an award that takes it beyond “marketing excellence” and includes attributes like breakthrough research results, product development that makes an impact on the ethical standards for the industry, or publications that promote the greater good of the industry and high ethical standards.
Let anyone submit entries for the award, but then narrow them down for votes by a committee.
By recognizing the truly ethical companies or people I think it helps raise the standards of the entire industry. Regarding the industries scam artists, I would love to relaunch my old forum and let people out who every they wish, but I first need to speak to an attorney to insure I am not liable for the claims of others. (If anyone attorneys want to offer up their time or consultations for free, let me know via the contact form).
I would love to see the LeadsCouncil take lead on this initiative, however maybe I will take a stab at getting the ball rolling.
What do you think? Good idea? Bad Idea? Who cares?
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11 Comments
it is a fantastic idea. you hit it on the head: it will even playing field and revolutionize the industry. totally needed and long overdue. what you are embarking on is just the tip of the iceberg. im sure all the “cockroaches” will come running out of their hiding places. bravo too you!
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As per what Dave said above, it’s long overdue, and something I look forward to helping make a reality.
Love to hear your (or others) elaborated thoughts on the formula to “recognize people or companies that make an honest difference in our space.”
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Lead Critic Reply:
August 18th, 2010 at 8:17 am
Jay,
I think there are a few ways this can be done. One idea is to have the initial submissions for the award be sent in from a nominator. This company/person would nominate another company/person for the award and give a detailed explanation as to why they should be considered. The person nominating a company must hold an executive position at a company. Maybe the award would require two different companies to sign off on the nomination – just a thought.
From there I think an awards committee could vote on the winner.
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I think this is long over due. But the key will be in the formula. Maybe companies could be nominated for it by others in the industry. But they may need to have specific criteria where they speak at x amount of conferences/workshops and are viewed as thought and quality leaders in the industry.
Michael B recently posted..Baseball and Conversion Rates
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Awesome post. I’m a little surprised that awards like these haven’t been given out yet. It’ll be good for the industry as it validates the companies that are doing their work ethically. I hope it will clean up the industry of these scammers once they are put on notice.
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I agree this is a great idea, long overdue. I think another great component would be data. Rather than depending entirely on anecdotal or subjective “nominations,” I think it could also be very useful to include real data. The tough part is getting it. But the leading LMS’s now have the ability to track lead performance data, what would be helpful is if there would be some way they could share it. Kaleidico used to do this with the Leadmarketwatch, the problem was that it wasn’t always a statistically significant amount of data to tell a real story. But if the Lead Council or Leadcritic could potentially aggregate data from ALL of the leading LMS’s and use that as a component for the decision making process, then I think that would help tell a more complete story. The question is, of course, is it possible? Probably not since there are a lot of reasons why lead companies would not want this shared.
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Lead Critic Reply:
August 19th, 2010 at 11:01 am
What if the award wasn’t a “lead quality” award? I am not saying that it couldn’t be a factor or even that a specific award lead quality award couldn’t be created, but what if it was bigger and broader. For example, a company creates a product that eliminates fraudulent activities between lead brokers. This type of product does not have a direct effect on lead conversions, but instead helps improve the industry as a whole.
I think noticing lead quality is very important, but I am thinking about recognizing companies that are making strives to improve the industry, lead quality, consumer experiences, etc.
thoughts?
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Jay W Reply:
August 19th, 2010 at 11:26 am
I think that is the right approach. There can always be a quality award, but the awards should span the spectrum. LeadsCouncil will definitely be doing awards at LeadsCon Las Vegas 2011.
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This was a good read. The lead gen partners who play by the rules should be recognized for their efforts. It’s especially true in light of the recent GAO report and regulatory rumblings indicating a protracted and exaggerated sensitivity to the entire ecosystem of marketing efforts in for-profit education, from advertising to recruitment.
The practices of some less scrupulous providers who continue to flaunt guidelines in a period of hyper-scrutiny in our industry make the job of those who are in compliance not only that much more challenging in terms of expense, but all the more valuable to the for-profit education industry as a whole. Lead gen partners who perform well in terms of conversion-to-starts and do so while remaining in compliance with all guidelines should be commended.
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Very nice post. I’d love to see your OUT Forum up again as well.
Imagine if there a was a way to validate the credibility of a provider without taking their word, or reference list, for it? This would work something like the department of education approved accrediting bodies the regulate the higher education industry. Asking companies to pay for an audit in return for endorsement would quickly seperate the wolves from the shepards. Easier said than done, but a worthy pipe dream in my opinion.
Brian Connelly recently posted..Participation in Summer Study Abroad Increases- New Research from StudyAbroadcom Reveals
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I like the idea a lot. Let’s figure out a way to showcase some white hats – those who give the industry a good name.
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[...] that I had a little influence on the idea, but I know full well that the idea was already in the works prior to my rant. Nonetheless, the long awaited awards were announced today via a conference call open to all [...]