Why Lead Validation is Important for Marketers?
A combination of increasing automation and more consumers choosing to do business online means that sales leads have never been as easy to generate as they are right now.
Today’s businesses should have no problems finding enough leads to keep their sales departments busy. However, failing to validate these leads can cause all kinds of problems for the business. Lead validation is a crucial step in the lead generation process that can help your business improve conversion rates, boost efficiency, and generate greater sales revenue.
What is a Lead Validation System?
Experts say that lead validation is a crucial part of your business’s marketing strategy. Without the process of validating leads, you are running the risk of significantly overestimating the Return on Investment (ROI) of your marketing campaigns. Lead validation refers to the process of verifying and determining the quality of any leads that you generate.
It can be a huge risk to your business to assume that each form completion on your website or call to your business indicates a strong lead. In fact, research has found that not even half of the marketing inquiries that you receive are likely to be legitimate sales leads. The data, from Straight North, found that around 50% of the inquiries that a website receives are not leads.
One of the main takeaways from the study found that the first website visit is crucial, since 85% of site visitors converted on the first visit. This suggests that many visitors are searching for the best company and vetting companies based on the quality of the website and content. Once they find the best match, they will convert to a sales lead.
The study also found that overstated results lead to slow campaign improvement, investing in campaigns that are actually generating minimal returns or losses despite being thought to be contributing to ROI, and an inaccurate determination of which campaigns generate each validated lead.
Manually sorting through past marketing inquiries is a form of lead validation, but it is an inefficient practice that most marketers simply do not have the time for. Along with this, using this method can leave too much room for mistakes.
A lead validation service or system allows you to use automation to cross-check any new information you receive on leads, and automatically boost the most promising leads to the top of the list for your sales team.
How Lead Validation Works
Lead validation involves the contact input that you collect from leads being verified as real. It is then compared with existing data sources to correct or adjust information when necessary.
Lead verification refers to cross-validating contact data including names, addresses, email addresses, phone numbers and IP addresses against hundreds of reputable data sources. This then provides an overall quality score out of one hundred for the lead, and other information that you can use to determine whether or not a lead is high-quality.
Why Lead Validation is Important for Your Business
Almost every department within the business will benefit from lead validation. Some of the main ways that lead validation can directly improve and strengthen business practices include:
Compliance: Lead validation and verification will make it easier for your business to ensure that it adheres to regulatory guidelines and laws such as GDPR.
Marketing: Lead verification allows your company to get a better understanding of marketing practices that are the most and least effective, along with making it easier to quickly pivot campaigns and create more powerful, personalized marketing automation.
Business Development: Automated lead verification services make it easier for your business to collect data that is clean and accurate. As a result, it is easier to make projections and plan business growth.
Sales: The sales team can ultimately spend more time focusing their energy on leads that score the highest, gain better insight during sales interactions, and use more effective sales drip automation techniques.
What are the Benefits of Using Lead Validation Platform?
Validating the leads that your business generates can have a wide range of benefits, including:
Lead Validation Software Improves Lead Generation
Just because a business has a sufficient lead generation process does not mean that there is not any room for improvement. A better lead validation process can shed light on the various processes and efforts that are used to create sales leads.
It provides an opportunity for marketers to better determine which techniques are working and which might be underperforming, making it easier to implement improvements and streamline the process more easily and effectively.
Overall, this allows the lead generation process to better evolve and grow over time, helping to ensure that it delivers the best results over the long term.
Boost Sales Force Efficiency with a Lead Verification Service
When a sales force is ineffective, this can be quite a costly liability for a business. Even the most skilled, experienced, and ambitious sales professionals will not be able to do very much with weak leads.
Lead validation is absolutely important to ensure that dead-end leads that are only going to cause the business to waste unnecessary time and efforts are eliminated. Along with this, the process will also make it easier to identify which the most promising leads are that should be given top priority.
Companies that possess the understanding and insight that is necessary to better direct the energies of their sales agents are much more likely to reach or even exceed their sales and other financial goals.
Use Lead Verification SaaS to Improve Existing Sales and Promotion Strategies
Over time, marketing strategies that are allowed to stagnate are less likely to be able to provide the same level of quality and success that the business has come to expect so far.
When it comes to ensuring long-term success, there are various strategies that can help including incorporating new advertising and promotional techniques and resources, shifting the emphasis or focus of the strategy, along with tracking which efforts are having the most impact.
Validating leads that are being generated by both current and past marketing efforts for a SaaS company can make it much easier for the business to come up with the most effective strategies for driving sales and promotions.
Reduce Marketing and Advertising Costs with Lead Validation Services
Marketing and advertising can be an expensive process for a business. This is especially true if the company is investing money into promotional resources and other opportunities that are failing to produce viable leads.
The process of assessing and validating sales leads is often an essential one for helping the business determine which aspects of their marketing strategy are actually cost-effective and which are providing the best overall value, along with any that could be adjusted or eliminated since they are putting unnecessary strain on the marketing budget.
The ability to implement and maintain an effective and affordable advertising strategy will help the business ensure that their marketing and advertising costs are less likely to get out of hand, and that every penny spent is worthwhile.
Lead Verification Providers Can Help with Image and Branding
Maintaining the right image and brand is an important step in the marketing process for any business. Ineffective marketing, including not validating leads, could be causing damage to a company’s image and branding in a way that they may not even realize.
Consumers and clients who do not have much need for the products or services of a business right now are more likely to form a negative impression of the brand if they continue to receive ongoing marketing efforts that they are not interested in.
Using a lead verification provider to validate leads makes it much easier for the business to only put in the effort to target those potential customers who are likely to purchase a product or sign up for a service. Lead validation provides the opportunity for companies to implement more effective advertising campaigns that can produce effective results.
Ultimately this may also allow businesses to more easily build and maintain the right brand image.
Work with Lead Verification Services to Boost Conversion Rates
With all marketing resources and promotional techniques, the main goal for the business is to boost conversion rates and increase overall sales figures. However, you will not get the results that you want if you expect your sales department to deliver the best results when they are provided with outdated or ineffective leads.
In order for marketing strategies to be effective at boosting sales numbers and revenues, high quality lead generation including lead validation and verification is an essential starting point. For businesses, the process of wasting time, effort and money on leads that have been generated hastily and not verified is more likely to result in lost sales and poor conversion rates, which can be very costly to the business.
For businesses today, lead generation has never been easier. However, if you are not going through the process of validating the leads that you generate, this could cause more problems for your business than you might realize. Lead validation can benefit all aspects of a business, particularly sales and marketing.