Leads vs. Issued Leads

`The following is excerpted from the Keyword Connects eBook: 5 Online Metrics That Matter for Home Improvement Lead Generation (and Five That Don’t). To download the full eBook, please go to www.keywordconnects.com.

What’s “a lead” anyway?

The truth is, it could be almost any name, address, phone number or combination thereof. And for many lead generation companies, that pathetically broad definition is exactly what they use when promising to “deliver leads” to remodelers.

Of course, if that’s all it took, you could just grab a copy of the local phone book and be off and running – it, too, is filled with names, addresses and phone numbers.

But that’s not what you need as a remodeler, and that’s not what you should be tracking – particularly when it comes to online lead sellers.

Instead, you want to measure “issued leads,” defined as leads given to a salesperson to follow up after someone has spoken on the phone to an interested homeowner. Those are the leads that result in sales.

So it’s much more than just a numbers game – lead quality matters a lot. And there are important differences between what one provider considers a lead, and what another considers a good sales opportunity.

Here’s an example. 

According to lead sellers, a “bathroom remodeling lead” could be a $30,000 gut renovation project. Or a $1,200 vanity replacement. Or a $700 cracked tile job. Or a $400 tub reglazing. 

There are huge differences among these opportunities – even though lead sellers typically refer to them all as “bathroom remodeling” leads. 

But this is the game that so many lead gen companies play. Deliberately setting the bar low to goose their numbers.  And their profits.

Here too, if it’s not significant enough to become an issued lead that’s passed to a salesperson, it’s not what you’re looking for. Don’t let their numbers fool you.

Lead Gen Insight #2:
The definition of “a lead” is incredibly subjective. Issued leads is the metric to measure.