Balancing the Lead Ecosystem

Paul Knag led an amazing session on defining the lead ecosystem?

How do you define the Lead Ecosystem? What is each player’s roles and responsibilities? What would you like to see from each player? Here are some thoughts from the session:

Lead Generators

• Match Lenders to Consumers
• More economic and effective marketing method
• Be an expert in generating leads
• Assume some conversion risk
• Leads on demand (market order)
• Be like LendingTree? Setting consumer expectations at point of generation
• Make Internet experience extraordinary for borrowers

Lead Management Systems

• Lead Distribution
• Performance Metrics
• Bell & Whistles (email, etc.)
• Reasonable cost
• Connectivity to other technologies
• Analytics
• Automated email capacity improved
• Improved page view speed
• Better lead responses on lead receipt (server responses to lead provider)

Lenders

• Monetize the lead
• Educate consumers
• Be compliant
• Educate lead providers
• Pay their lead providers
• Call the leads
• Ethics and service
• Be realistic in expectations
• Implement/enforce use of tools/system
• Communicate openly data/analytics
• Improve trust

Miscellaneous

• Lead regeneration (credit repair)/lead retention/incubation
• Pricing
• Loan Origination System/Open
• Dialers
• Consultants
• Research
• Association/Governing Body
• Marketing Management System
• Data qualification

What do you think? What do you what from this ecosystem?

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