An industry insider's guide
Not all leads are created equal. Some probably shouldn't have been created at all.
Sounds great. But there's an important question:
How many other funding forms did the merchant fill out?
Your provider may have sold its submission only once. That doesn't necessarily mean you're the only funding company talking to that business owner.
Maybe 2 forms. Maybe 5. Maybe 20. Maybe your website was form number 40.
Exclusive from one source doesn't necessarily mean exclusive from the prospect.
Some sellers take business data, package it up and market it as funding leads. There's one major difference:
Did the business owner actually ask for funding?
If they didn't demonstrate active financing interest, you're not buying the same thing as a true inbound funding inquiry.
Calling a spreadsheet a lead doesn't magically make it one.
Monthly subscription lead programs can look inexpensive until your sales team starts competing with everyone else receiving the same inquiry.
Your reps aren't just selling. They're racing.
Worth asking your provider: how many other buyers receive each inquiry? The value of a lead should be judged by more than how many names arrive in your inbox.
If everybody has the lead, does anybody really have the lead?
Buying mystery data can create unnecessary operational and compliance risk.
Companies should evaluate their own outreach practices and legal obligations with qualified counsel.
Know what you're buying before your sales team starts dialing.
Are your leads great or garbage?
Your sales reps already know the answer.