Thursday, March 20, 2008

Lead generation technique: Quizzle case studies

The challenge: generating qualified leads
Everybody knows that it is hard to get qualified leads for your business. By qualified, I mean leads that you have a high percentage of chances to convert them into customers. When you set up a marketing campaign aiming to generate new leads, you get different kind of problems: you can have a lot of leads but not qualified, or you can simply have a small amount of leads.

I will talk specifically today of the first problem listed: how to get qualified leads? How do I know that the lead is qualified?

How do I know that the lead is qualified?
This is where a customer relationship strategy is important. A customer analysis will allow you to identify specific criteria to qualify your primary target, and also to recognize the data that will allow you to qualify the prospect. You know that your lead is qualified if it has different criteria that characterize your core target. Also, if we follow the precept of permission marketing, if a lead is eager to give you his contact information to get in contact with you for a specific service, then this lead is interested by your product and aiming to go further in his decision making process.

The Quizzle case study
I found out about Quizzle today, and it is in my opinion a great example on how to get qualified leads, willing to do business with you. I actually learned about through Twitter!

The offer
Quizzle is a company held by Quicken Loans specialized in mortgages. In order to get leads, they created an online software which will allow visitors to have an overall view of their mortgage situation. Indeed, the software gives for free:
  • A credit score and report
  • A free home value report
  • A personalized mortgage recommendations
  • A custom budget

After having analyzed these different features, Quizzle establish a score that will show you where you are at: Do you have a mortgage that fit your need? How is your credit history? And so on.

What is great about the concept is that on Quizzle gets not only contact information, but a complete overview of the visitor profile. These data can be used afterward to set up specific offers to the client.
The visitor has a great added value, as he can get in less than 10 minutes a complete check up of its mortgage situation.

So the morale of this example is: if you want qualified leads, you need to offer them an added value in exchange of their personal information. The client won't accept to give you personal data if they don't have an offer to get in exchange. Also, if the customer is not pleased with the counterpart he won't want to go further with you.

And that is what customer relationship management is about: managing clients' data to propose an adapted relationship to grow business.

What do you think about it? I invite you to try out their system, it is very well done. Good job.
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