Some cuts are worth more than others. The same goes for lead prices. So how do you walk that fine line between overpaying for underperformance and not paying enough for the leads you truly want?
When you migrate your sources to PX, you have the opportunity to right-price every lead you buy. Here’s how.
The old way
When you purchase leads from a source, do you start the process by negotiating a price for leads that you believe is a fair price? It’s safe to say that some of these leads perform better than others based on the ways they are being generated. Or perhaps based on the time of day, geographic location, credit score associated with the individual or any number of additional attributes.
The new way
When you set prices on more granular, performance-based levels, you’re in a more favorable position to focus on rewarding quality and results. You’re also enabling the source to spend more on generating quality leads since they are no longer limited by having a fixed price for every lead. Rewarding performance makes it much easier to scale, which is in the best interest of both you and your sources.
How it works
PX enables you to establish as many pricing rules as you wish on Day 1, for any set of conditions. Now, every lead that passes your filters and targeting criteria will have pre-determined pricing that you wish to pay, based on any potential combination of criteria and hierarchy that suit your objectives.
For example, Lead A was generated from paid search and Lead B was generated from social. You know from experience that leads generated from search perform higher for your business than those generated through social. Thus, you can set pricing rules so that leads from search are priced higher than social.
Take it a step further
Data shows that top-performing buyers are those who assert their control by creating sophisticated pricing strategies based on not just the sources they’re buying from, but also traffic type, lead attributes, and past performance. They even know the availability of leads at any given moment in time. Go ahead. Dictate prices.