I recently posted the question “Are lead providers gaming the widget” and wanted to delve into that question a little further. So I did a little investigation into why Juicy Leads is showing a 20% app rate in the Lead Marketwatch widget and I think I may have some answers.
According to a Juicy Lead rep many of the leads that are going into the Icosales system are from the state of Ohio. At This point you may to revert back to the “Over and Under” post. It also brings up the inefficiency of the Marketwatch widget. Unfortunately at this time the widget does not grade providers, it only shows their app rate. So the amount of leads purchased and the states in which they are purchased are not taken into account.
I currently have my own lead quality tool that I use to generate my Top Five lists. It’s based on a scoring system. It combines a weighted score for each key component, average loan amount, average gross, ROI, and conversion ratio. Each is weighted differently according to what I think is more important. For example, ROI may be weighted more heavily than conversion ratio. This helps me quickly view the overall performance of a lead provider. I would love to see an apple to apples comparison in the widget. It may not be that difficult to build.
Also, you may want to look to Ohio for your leadsJ
Full Disclosure:
Juicy Leads sends numerous states into the system, not ONLY Ohio. The actual amounts are unknown though.
Speaking of Kaleidico, some LO’s in our shop heard a rumor that Lower My Bills has bought Kaleidico in order to manipulate the Marketwatch. Have you heard anything about it? That would surprise me, as closely tied as they seem to be to Leads360. Although I can see them trying to do something like Root did with LeadROI–pull them off the market. What do you think?
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I am very confident that that is only a rumor.
I really can’t see LMB going down that road. The only reason why the acquisition between Root and leadROI worked is because Root is not a lead Originator they are marketplace and different types of lead sources come through the marketplace. There would be too many conflicts if a lead originator acquired a CRM.
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