Social media leads draw attention; with 100,000 followers, what will experts pay for a next generation lead?
Most of the clients I work with clearly understand the potential of
social media-based lead generation. After all, they are spending
millions of dollars to extract leads and demographic information from
third party lead sources and house them in marketing data bases. What
the majority of carrier marketing and lead managers don't know about,
however, are the operational aspects and benefits of securing and
maintaining a social lead.
A social lead is active and grows virally (it is accumulating new information and providing it dynamically to the lead generation system without human intervention), whereas a purchased lead is "flat" and represents a "snap shot" in time, each day more dated and less valuable.
In breadth, the purchased lead is a sparse row in a database that was filtered on certain demographic traits at a point in time. Unlike any previously available lead, the social lead comes with on average of more than 72 dynamic fields of data which are subject to change and augmentation every time the lead accesses the internet; it is a lead that is ever growing, with instant refresh for the carrier lead management system and information pipeline utilities such as Facebook Connect(TM).
In addition, a single social lead may be an "influencer" within a social or technological ecosystem where product preference is driven by "trusted networks" representing thousands of ultimate "connections".
MY OPINION: The social lead is worth a premium over traditional static leads.
WHAT DO YOU THINK?
I'd like to hear your opinion. What is a Social Media lead worth? What if it costs less than a database lead? Do you see any ethical considerations in following a specific lead for an ongoing period of time, even though they are not an insured or applicant?