The Good, The Bad, and The Ugly of Digital Lead Sources
27,000 Lead Results, Analyzed
Digital Leads: for movers, at their best, they can be a crucial source of income for your business.
At their worst, they’re an endless time and money sink.
In an era where it feels like there is an unlimited amount of information available to help you run your business, and more ways to contact and find your clients than ever before, sometimes it helps to have a partner that helps you cut through the noise.
Which is exactly what a good lead source does.
Your time is valuable. If you’re running a moving business, you can’t afford to be calling, emailing, or texting dead-end leads - something that veteran and novice movers alike end up sinking incredible amounts of time into doing.
So, to help you avoid this exact problem, Oncue analyzed 27,000 digital leads imported into our system to help you find the best bang-for-your-buck (and time).
Let’s break it down:
What you’re seeing above is the breakdown of Total Leads by Source Vs. Leads Unable to be Converted Vs. Leads Converted to Bookings.
While there are some interesting takeaways you can glean just by glancing at the chart above, it only tells a tiny portion of the story.
For the rest of it, read on (Source-by-source breakdown below):
For this analysis we used data generated by our expert representatives’ attempts to contact over 27,000 leads imported into the Oncue software and booking services system. Attempts to contact leads were done by phone, text, and email, all of which are services offered as part of Oncue’s lead chasing systems.
While Oncue contacts leads from an enormous variety of sources, they were only evaluated in this breakdown if the number of leads imported into our system exceeded 150 leads, and the leads provided came from digital / online services.
These criteria allowed us to evaluate the performance of leads from 12 Different Digital Lead Sources!
Analysis by Source:
Want to see how your lead sources perform? Looking for new opportunities? We sat down and compared the performance of each lead source so you can get a thorough evaluation where your time, energy, and money is going - or should be going.
Total Leads: 12,113
Failure Rate: 96.7%
Conversion Rate: 3.3%
Conversion Rank: 10 / 12
Analysis: If you want sheer volume when it comes to your lead provider, it's clear that Equate Media provides it. However, with a conversion rate of 3.3% - one of the lowest on the list - it's hard to recommend sifting through them all. They do make mention of the ability to customize your leads, so perhaps that could help bring quality up, and quantity down.
If you have an automated lead chasing system, like Oncue's, it might be worthwhile to use Equate's leads in the off season, but only if the price is right.
Total Leads: 4670
Failure Rate: 52.9%
Conversion Rate: 47.1%
Conversion Rank: 2 / 12
Analysis: Looking at the numbers, it's easy to understand why movers use Yelp. As the 2nd largest source for leads in our system, and the 2nd highest conversion rate of the 12 we evaluated, they provide a good mix of both quality and quantity.
That said, it's important to note that Yelp isn't quite like a lot of the other lead sources out there, and a decent volume of leads generated here can be assumed to be organic, and the audience is largely self-selecting.
Total Leads: 2998
Failure Rate: 95.3%
Conversion Rate: 4.7%
Conversion Rank: 9 / 12
Analysis: Moving.com provided the largest volume of leads of the services built specifically for the moving industry, but unfortunately also had one of the highest failure rates - over 95% of leads were unable to be converted.
Total Leads: 2667
Failure Rate: 94.7%
Conversion Rate: 5.1%
Conversion Rank: 8 / 12
Analysis: Comparing the non-specialized lead generation sources, you can see that Quote Runner performed similarly conversion-wise, providing a slightly improved conversion rate over Equate Media, however, they do also offer the opportunity to customize your leads, which might improve your results.
In the same vein as above, these leads might be worth chasing if you're desperately seeking business opportunities, but with only 5/100 leads converting, maybe let our automated systems do the chasing.
Total Leads: 1247
Failure Rate: 97%
Conversion Rate: 3%
Conversion Rank: 11 / 12
Analysis: The 2nd of mover-specific source on our list, unfortunately, offers one of the worst conversion rates. Only 3% of 1247 leads converted to a booked job.
Total Leads: 1023
Failure Rate: 85.8%
Conversion Rate: 14.2%
Conversion Rank: 7 / 12
Analysis: Home Advisors tops the industry-specific services on our list - they triple the conversion rates of their competitors, but similar to Yelp they also offer a self-selecting audience, bolstered by their popular parent company, Angie's List (also on this list).
Total Leads: 786
Failure Rate: 65.1%
Conversion Rate: 34.9%
Conversion Rank: 5 / 12
Analysis: First and foremost: Google Ads are only as effective as you make them, but you can see their potential above. Leads generated by our mover's digital ads offered a 1/3 conversion rate, which puts them in the top 50%. There are a lot of variables in this particular lead source, but there's a reason Google is the largest digital ad agency in the world: they're good at what they do.
Total Leads: 636
Failure Rate: 99.2%
Conversion Rate: 0.8%
Conversion Rank: 12 / 12
Analysis: Movers.com takes the bottom slot on conversion rates. With a less than 1% conversion rate, they are beaten out on conversions by both industry-specific companies, as well as broad lead generation services.
Total Leads: 277
Failure Rate: 80.5%
Conversion Rate: 19.5%
Conversion Rank: 6 / 12
Analysis: Craigslist takes the middle spot on our list by conversion rates, showing that there are still business opportunities to be had despite the site's less-than-stellar reputation (ie: searching "Mover Craigslist" generates results that include "Is it safe to hire movers from Craigslist?")
Total Leads: 245
Failure Rate: 63.3%
Conversion Rate: 36.7%
Conversion Rank: 3 / 12
Analysis: Facebook offers an impressive conversion rate that places it near the top of our list, most likely due to its ability to be used as a variety of purposes that include listing, advertising, review aggregation, and customer interaction, showing it should be a solid return on investment for your time.
Total Leads: 219
Failure Rate: 64.4%
Conversion Rate: 35.6%
Conversion Rank: 4 / 12
Analysis: Angie's List is barely edged out by Facebook on conversion rates, and is competitive with its rival, Yelp, showing decent potential for business opportunities in their more curated listings.
Total Leads: 163
Failure Rate: 52.1%
Conversion Rate: 47.9%
Conversion Rank: 1 / 12
Analysis: Thumbtack tops our list for conversion rates, but occupies last place when it comes to total volume of leads. It's an interesting place to be, especially considering it's one of the youngest companies on this list. There's something to be said about a company that seems to offer quality over quantity.
What's the take away from all of this?
Where you get your leads matters, and the services you use should match your needs.
If you're growing and use a booking service/ lead chasing agency like Oncue, perhaps you can take on a higher volume of leads to grow more rapidly.
If you're winding down, and cutting costs, maybe you can trim away some less efficient services.
It all depends on your business priorities.
Have you had an experience with any of these companies that defies our numbers?
Or a digital leads source we missed?
Let us know in the comments!
Interested in getting an automated lead chasing system that includes emailing, texting, and phone calls by dedicated sales reps? Request a demo!
Tyler Jemetz; Oncue Marketing Coordinator