What changes can we expect in the lead generation markets in 2023? The Key words of 2023

As we move into 2023 what will change in the lead generation markets in the year ahead? Thomas Brett, Head of Mortgage and Lending at Contact State talks through the seven key words of 2023.   

 

Many of us will be happy to say goodbye to 2022 and its challenges, and a new start into 2023 will be just what the doctor ordered. But, as we know, challenges always bring with them opportunities and it’s the same in the lead generation for financial services space. So, what ‘buzzwords’ will we hear this year? Here are the top seven.  

 

Enrichment 

 

Lead enrichment will become an integral part of lead generation journeys. By taking the customer on a more detailed journey, asking the right ‘extra’ questions and utilising this extra data correctly, conversions will increase. Yes, these leads will be more expensive but as the conversion rate increases this covers the extra cost, not to mention the time saved by speaking customers who are ready to buy.  

 

Hotkey 

 

Hotkeys can be a great way of receiving leads from your external lead generation partners, but an extra level of oversight is required when purchasing them. Views on where the leads have come from, the customer journey up until that point, and scripting on the handover call are all key to make sure the leads you buy are compliant.  

 

Brands 

 

As online consumers continue to become savvier, lead generation firms are starting to look at improving their own brands. Instead of many landing pages for different products or campaigns, the target will be to become a household name that customers will actually search for. Successful external lead generation companies are already starting to do this.  

 

Triage 

 

With the FCA working on removing product silos, an effective triage process will be required to ensure customers are receiving advice on all products that may be available to them. Gone are the days where brokers can say we only deal with one product, they need to effectively prove all advice is in the customer’s interest.  

 

Thank You 

 

Thank you pages will become increasingly important in the customer journey to advice, and the more effort placed on these pages after the consumer has entered their details, the better. Better signposting on the next steps, who is going to call, what products they will discuss etc, will increase conversions and continue to show the regulators that the lead generation journey is fair and in their interest.  

 

Oversight 

 

With Consumer duty live, the FCA are focusing more than ever on the whole customer journey. External lead generation is an extremely important route for customers to receive the correct advice, but lead buyers need to know every step of that journey. From advert to post advice, every interaction needs to be fair for the customer and this needs to be provable to the regulators.  

 

Partnerships 

 

The best lead generation campaigns between lead buyer and lead seller work as partnerships not as a simple transaction. Real-time feedback builds trust, helps lead generators to optimise their campaigns quicker and this ultimately means better leads, better outcomes for customers, and a more profitable relationship.  

 

With the challenges financial services markets have had over the last year, lead generation is more important than ever. By ensuring this is operated safely, transparently, and in the customer’s interest, we can continue to build robust consumer journeys that work for lead seller, lead buyer, and most importantly, the end customer.