Why are conversions so low on third party leads? The answer is quite simple. Third party lead gen companies are focused only on converting traffic to leads while the dealer is focused on converting leads to deals. There is a total disconnect. Not only that, but lead generation companies control all the messaging, and source of the lead. They know the messaging and sources that generate good leads, and the ones that generate the bad, and they make sure you get just enough good ones to give you some conversions, but also a whole bunch of bad ones so they can make a profit. That is the reality.
Are you too dependent on third party leads? If your lead supplier suddenly decided to increase your price because demand went up, or maybe decided to give exclusivity to another dealer who paid more and cut you off, or perhaps got a little greedy and started selling poorer and poorer quality leads to you, how would that affect your business? Is that a risk? If it is, you should be thinking about diversity in order to protect your company. Not just diversity of lead gen company, but actually gaining back control over your own lead generation.
Is your third party lead provider also your competitor? Did you know that many third party lead generation companies are also selling online to clients? Your biggest lead supplier may just have opened up online right beside you and is now competing with you. How does that work? The same company that generates and provides you leads also is generating their own leads? Definitely a conflict of interest there. Do you even own the lead or only buy the right to use it for three months? What about that lead that converts into a deal? Are you selling them a vehicle in twelve months or is your lead supplier when they follow them up? Lots and lots of red flags there. You should be paying attention.
Is your third party lead provider reselling your leads? Have you ever had the experience of buying a lead twice? Like you bought it once and it didn't convert, then you bought it again, three months later? That’s right, the lead company is likely following up your leads, and if they didn't convert, contacting them to re-apply then selling them again, to you, or one of your competitors. And if they did convert, better watch out in twelve months if your lead supplier also happens to sell cars directly online. It could be bye bye customer. Recycling leads that do not convert is the strategy of many lead suppliers. Be careful of this practice and ask, always, who owns the lead? Does the lead company keep the lead data and remarket to it? You would be surprised by the answers.
Is there liability associated with buying third party leads? There is one obvious issue with buying leads from third parties. You don’t control the messaging the prospect is responding to, and that's a problem in many ways. The most obvious is the likelihood of poor quality leads due to the natural disconnect between you, the dealer, and the third party lead company. But there is an even bigger issue at play here you should be aware of. Liability. Liability for your brand, and even potential legal jeopardy if any fraud or misrepresentation has occurred. If a client lands on a landing page or site that makes statements or promises that you cannot deliver on as a company, that reflects on you. If that landing page misrepresents or lies to a consumer, and you buy that lead, you are then a part of that. How does that reflect on your brand? Or even worse, your legal jeopardy? These are questions you should be asking. You need to know every landing page your leads are being driven from, or you are placing your brand, and company at risk.
Gain back control of your lead generation.
We all know it’s not that easy. If your experience is like most other dealers, hiring an agency to help you generate your own leads is almost impossible. They don’t know your business. They certainly don’t understand non-prime and car loan lead generation. Almost impossible, until now. Zymbyo specializes in exactly that. Clean reports. Dollars in. Leads out. Forms. Calls. Chats. All from your site. On your products, services, and messaging. Full control and ownership of leads belongs to the dealer. Quality leads. Higher conversions. Transparent. Low cost. Manageable in minutes a month with the click of a mouse. Start taking back control of your lead generation today and reach out to us.