Lead fraud is a hidden menace that can drain your marketing budget and undermine your business growth, but understanding its true cost and learning how to combat it effectively can safeguard your investments and boost your ROI.
Lead fraud occurs when false or misleading information is provided as a genuine lead. This can be perpetrated by bots or individuals, resulting in bogus leads that infiltrate your lead generation campaigns. These fraudulent leads can drain your resources, costing you time, money, and effort.
Despite being a common challenge in the lead generation industry, there are effective strategies you can employ as a lead seller or buyer to mitigate the financial impact of fraudulent leads.
Trustworthy Lead Suppliers: As a lead buyer, we advise that you build relationships with reputable lead suppliers. Conduct due diligence by researching and reviewing potential suppliers to ensure they have a proven track record of delivering high-quality leads.
Lead Validation: Implement lead validation processes such as mobile phone and email validation. This helps ensure the contact information provided is genuine and functional, reducing (but not completely solving) the likelihood of fraudulent leads entering your system. As a lead buyer it can be a drain on resources and cause extra admin. As lead supplier, add it to your webforms or lead management system like LeadByte before sending leads to your buyers.
PIN Verification: Use PIN verification in your lead generation funnels. This adds an extra layer of security by requiring leads to confirm their identity through a personal identification number sent to their phone or email. It may have an impact on conversion rates so we would recommend running a campaign in parallel with your current lead generation activity and reviewing whether the exercise is worthwhile.
Consent Verification with Active Prospect (AP): Utilise software like Trusted Form (TF) to capture and verify consent. Many of our customers that buy leads from suppliers (in the USA) require that a TF certificate of authenticity for each lead is given, which enables them to ensure the lead registration was genuine. As a lead seller, it is an extra layer of credibility to those that you sell leads to, as a lead buyer you can use Lead Conduit (product of AP) to validate whether you will accept the lead or not.
Bot Detection with Anura: Incorporate software like Anura.io to detect and block bots. Anura.io uses advanced algorithms to identify and eliminate fraudulent traffic, ensuring that your leads are human and have real potential. They have years of experience in the lead generation industry, check them out. Say hello to Richard from us!