What to look for in a lead provider

By Helen Fisher on July 2, 2019

Seven important questions for choosing a lead provider.

Your partnership with a lead provider marks the beginning of an important business relationship. We’ve put together a list of things to consider to help you pick the right provider for you.

1. Find out their approach to compliance

Financial services and lead generation are strictly-governed industries and there have been changes to UK and EU regulations, such as the General Data Protection Regulation (GDPR) and the cold-calling ban for pensions customers, that might have caught some lead generation firms out.

Before working with any lead provider you should find out:

  • how do they handle the data of their business partners and other financial advisers
  • how do they handle the data of potential financial advice leads
  • how do they get their leads

2. Their business ethics

As well as being compliant, your lead provider should conduct itself with integrity and honesty. This needs to be demonstrated in how they work with their partners and their customers, as well as how they contribute to the local community.

Find out:

  • how they conduct business
  • what other financial advisers or business partners have said about working with them
  • whether their lead generation tactics are compliant and truthful to customers

3. Are the leads they provide high quality and relevant?

When you invest in new leads for your business, you want to find yourself speaking to potential clients who are already interested in your service. Customers expecting a call about something else are unlikely to respond positively to you.

When talking to a prospective lead provider, find out:

  • where their leads came from
  • how leads sign up, or register their interest
  • how they match certain businesses and products to certain leads

4. Are they reliable?

Make sure your partner has experience delivering high-quality leads on a large scale and on a regular basis.

You should also find out what happens if you have a problem with a lead. You need to know that your lead provider has processes in place to help.

5. Are they open with communication and performance data?

A close working relationship is essential for you to get the most out of your investment. Communication should go both ways so that you can understand and improve your performance, and the lead provider can give you the best lead quality.

Make sure you know:

  • how and when you can contact them
  • how regularly they will update you on your performance
  • how they will measure your performance

6. Do they have a support team?

Find out if there is anything else besides leads that your provider can give you before you make your choice. The right lead provider could help with training and support for converting leads, retaining clients and objection handling.

  • Do they have a helpline and customer support service?
  • Do they provide any training or other relevant insight?

7. Can they support you with long-term business growth?

Lead providers that can meet all of the criteria listed above should provide you with a great service in the short term. But how can your firm’s relationship with a lead provider bring about sustained growth?

Your lead provider should work with you to understand your business’s needs and objectives. They should spend time with you to help develop a strategy so you can meet your goals, identifying any opportunities and supporting you with training and performance insights.

The Lead Tech difference

Lead Tech has over 10 years’ experience working with financial advice firms, providing them with high-quality leads. We provide leads for financial advice, pension and retirement, equity release and private medical insurance.

Get in touch today to find out how we can help you achieve your firm’s goals.

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