With this in mind, should prospective lead buyers only consider real-time leads?
The first thing to point out is that both real-time and aged leads are generated through the exact same process, the difference lying in the time frame in which the lead is sold. Real-time leads are sold immediately after the consumer has filled out a form online whereas aged leads can be anything from a few hours old to weeks old.
It is also important to clarify that leads that do not find a buyer in real-time are not necessarily any less desirable in terms of their criteria.
There are many reasons why a lead supplier might not be able to match every lead in real-time. As well as “out of criteria” leads there can be spikes in supply, buyers running out of funds and lack of national coverage for certain products which all contribute to why leads might be going spare.
To determine whether real-time or aged leads are better we need to look at the advantages and disadvantages of both. The main benefits of real-time leads are that you are more likely to make contact with the consumer in addition to the fact you get the opportunity to speak to them while the product is still fresh in their mind.
There are plenty of studies that show these two factors increase conversion rates. However, you pay a premium for real-time leads and while conversion rates are higher, it might turn out that you would make a better return on investment from purchasing cheaper aged leads.
For example, if you are a self-employed broker and will be contacting the leads yourself then there is a good chance you won’t always be available to contact every lead when you receive it. If this is the case then it might make more sense to buy aged leads where you can potentially save over 50% or more on the lead cost.
While contact rates will be lower, the potential savings can often more than make up for this.
Ultimately, every lead buyer is different, so the only real way to determine which will work better for you is to try both and make your own mind up!
