Don’t ignore those duplicate leads, says Leads360 in a new study examining their (potentially unrealized) value. Analyzing about 100,000 leads from its customers that were flagged as potential duplicates, and comparing them to the performance of millions of others leads it managed, Leads360 found that those flagged as duplicates converted at a rate 167% higher than the average. Delving further into their analysis, the researchers show that dispositioned duplicate leads (those that are acknowledged and acted up on in some way, such as by being re-distributed, re-prioritized, or merged) convert at an even higher rate relative to the average.
Indeed, dispositioned leads emerged from the analysis with a conversion rate 181% higher than the average lead. Notably, even those duplicate leads that weren’t dispositioned converted at a rate about twice as high as the average. As the researchers note, this suggests that there is an “inherent value in duplicate leads,” although putting in the time and effort to decide how to deal with a potential duplicate appears to lead to even higher success rates.
Taking a look from a different angle, the study also notes that the more times a lead was flagged as a duplicate, the higher the likelihood of it converting. That is, the relative conversion rates of duplicate leads tended to increase with the number of times they were flagged. While they only represented about 1 in 10 duplicate leads analyzed, those that had been flagged at least 5 times boasted an average conversion rate more than 200% higher than the average.
Finally, timing may also be a factor in duplicate lead conversion rates: the data demonstrated that the longer the time period between the lead’s origin and its being flagged as a potential duplicate, the higher the conversion rate relative to the average. Generally, duplicates generated more than 6 months apart had the highest relative conversion rates. The researchers suggest that this could be because during that time span, the prospect’s situation may have changed to the point that they are ready to convert.