If you haven't already, please make sure first to check out Tips Before Getting Started with Leads to better understand what leads are, how they become leads, how to optimize your lead followup, what makes leads eligible for refunds and how to optimize the program.
What is a lead?
So what is a lead...a lead is a verified hotelier who has expressed interest in your product and we have verified their contact information and manually researched/enriched the lead to make sure they are who they say they. The user (1) pre-qualified as a hotel tech buyer by the nature of just being on HTR (2) have filled out 15+ form fields (3) verified their contact information (4) been manually verified by HTR (5) explicitly requested intent and interest in your product. This is what you are accepting when accepting a lead and if any of this criteria is not met HTR offers a 100% money-back guarantee.
What a lead is not...
Please keep in mind that a lead is different from a closed deal obviously (that's why they are priced at $30 for example rather than an affiliate model which is typically something like 10-15% of lifetime revenue of the customer. It is important to keep in mind leads are leads, you will not close all of them and that is (a) totally normal and (b) what you should be expecting. That said, you should get responses from most leads if you follow best practices.
What if I purchase a lead but the lead doesn't respond? Am I eligible for a refund?
The short answer is no, this does not qualify for a refund per our refund policy. After HotelTechReport has done the work to acquire, convert, enrich and verify the lead, they become a lead and are then sent to your vendor dashboard.
After that point there are things we cannot control that can impact response rate which is why we recommend going through our best practice guides to set expectations and a strategy to set your company up for success before getting started with leads.
So what are some of the variables that are out of HotelTechReport's control that my company can do to improve lead performance and success rates? (in order of importance)
- ✍️ Tailor your followup based on lead type (specifically for matched leads): This one is BY FAR THE MOST IMPORTANT. What was your messaging to the lead? Who reached out? Was their response tailored to the type of lead? Did they follow best practices for lead followup? If your team is responding to all leads the same you will get low response rates because matched leads require a very different approach. Make sure your team knows the difference between direct and matched leads and has checked out (1) How to followup with matched leads+template and (2) Lead types and followup tips
- ⏰ Setup processes or automation to increase responsiveness: How quickly did you accept the lead from the time you received the notification from HTR? How quickly from the time you accepted the lead did a member of your team followup? There is a direct correlation between your response time and success rates so this is super important as outlined in our getting started guide and tips. The more time that goes by from the time the initial request is placed to the time your team follows up the more likely a hotelier is (just like any user on the internet) to lose interest, change their mind, get busy, find another vendor...etc. Check out our guide: 🤖 6-Step Guide to Automating Your Lead Followup with Zapier
- ♽ Make sure you are following up: How many forms and demos do you fill out on a weekly basis? A lot, right? So do hoteliers! People are busy on the internet and fill out lots of forms and demos and when you respond to someone who did, often times you catch them at a time they're busy and they don't respond and then forget about your email. Thats why followup is critical and having a strategy in place to do so and track your followup is super important. How many times is your team following up with leads? Are leads opening your messages and just not responding? Or did they not open it at all? Do you have tracking setup to be able to know what's going on with leads?
- 👍 Vendor reputation on HTR: Most HTR users when they hear from a vendor will go back to your profile. How does your reputation look? How do you stack up to other vendors in the category? Having a lower ranking and reputation means a higher probability that the user requests information from other top rated vendors. If those vendors respond faster and have a better reputation, the user may not be interested any more even though they requested information initially.
- ❓ Vendor brand awareness (relevant for matched leads only): If you were looking for a new car and then a company that you hadn't heard of reached out to you looking for a car, what would you do? You would probably look them up online right? Or think its not worth even considering a car company that you hadn't heard of and just discard the email. Remember, matched leads didn't explicitly ask to connect with your brand, but instead they asked for matches based on data in the platform and said they were open to connecting with matching vendors. If you are a match this is great, but you also need to keep in mind that if the buyer doesn't trust your brand or isn't familiar with it, this is a potential risk when accepting matched leads. If you get a match and reach out but the user either hasn't heard of your brand or you have a bad reputation, they very likely may not respond to your outreach (especially if it is aggressive and overly promotional/salesy). Vendors with poor reputations should focus on improving their reputation to optimize matched lead responses or go in knowing that leads may not respond. On the other hand matched leads are a great opportunity for companies with lower brand awareness because it puts you in the consideration set of a buyer who wouldn't have considered you otherwise but you (a) should understand the risk of a buyer not being interested if they haven't heard of your brand and (b) should make sure you carefully craft your followup with matched leads according to HTR's best practices.