Lead Generation
for
Customer Acquisition

There are a number of factors with Lead Generation that affect the risks and scalability of a business.

​

Costs

Typically a cost is paid per lead received with many permutations being in play - low cost per lead, higher cost per paid sale, etc.

​

However all of them are calculated using a formula that is based on past results - and often on a pure average of a "bucket" of acquisition leads which may not be representative of the actual performance for any one lead provider. This model favours cheap-to-generate- leads which often have a short retention period before switching. It disincentivizes better quality leads with better persistency as these cost more upfront but are normally far more profitable.

​

Market Intelligence

Leads that are bought in with no other information provides no basis for decent internal or external analytics.

 

If the leads are generated from a large known base of prospects with information that enables segmentation and analysis, then the ability to segment and profile effectively enables one to assess and quantify the market size. In addition one can then assist with intelligence/analytics for assisting Advertising and  Brand and Marketing. These factors are hardly ever considered in siloed organizations, but the sharing of budgets and wider group intelligence can add significantly to tactical and strategic value.

​

Why would you position an advertising campaign for your best customer if in fact your new customers being onboarded have a different profile? In South Africa this very real situation is happening now and these opportunities are being lost.

​

Sustainability

If one is purchasing leads in from multiple suppliers then a number of factors take effect:

• The volume of leads being purchased will need to grow as the lead generators play on "reduce your premium" emotions and prospects get multiple offers to switch and therefore may learn to switch more often to get the benefit of lower premiums for a period.The customers therefore cancel at an increasing rate unless retention strategies hold them.

• The more suppliers generating leads - the more options and offers prospects will receive.

• If the suppliers bring in lower quality leads then overall new business cancellations will worsen and  lead fees will drop

• If other insurance companies start offering higher fees for exclusivity, then lead volumes may potentially drop.

• If the market conditions change (Covid, POPIA, etc) then suppliers may deliver lower volues of leads.

​

Controllability

The key question to assess - do you have control over your customer acquisition efforts?

• Can you upscale if you need more quality leads, or are you just keeping the call centre busy with low converting leads?

• Can you generate leads at 24 hours notice in low lead volume periods?

• Can you kickstart higher volumes as required?

• Can you test offers quickly for maximum effect?

​

Business Risk

All these factors add to increased or reduced business risk in the key area of customer acquisition and revenue growth.

​

So how does one reduce risk and ensure sustainability.

​

The EI Solution

Our EI Optimised customer acquisition provides a combination of options to create the most sustainable and efficient leads into your call centre.

​

• We can generate SMS based leads (POPIA compliant) at short notice - once you are setup with us.

  • We have access to millions of prospect records that we can use​

  • We have full campaign management facilities

  • We can send leads by API or Hot Transfer or Email

  • We can embed our own proprietary short-links for secure private tracking and to take then to custom landing pages

• We can generate warmed leads directly from our Call Centres using our own prospect calling lists - custom profiled for your needs

• We have a full analytical capability using a Customer Life Stage Models with Personas and ​powerful statistical Models for Risk and Conversion

• We can then share intelligence gained across these options with Advertising and Brand and Marketing through various channels (Interactive Dashboards, Reports, etc.)

​

Chat to us about your needs and let us suggest methods to assist with increasing efficiency and sustainability.