Removing Lead Gen’s Black Cloud
Thursday, October 26th, 2006
The impetus to bring LeadPoint to market was a goal to innovate the world of lead generation by providing more value to the companies doing the heavy lifting: those aggregating eyeballs and those acquiring customers.
It has been a challenging journey bringing the model to market, ensuring we address all the issues in an efficient manner. The company has put an extraordinary emphasis on the black cloud that is raining on the click world and is imminently moving towards lead generation— fraud.
The question of “how to protect customers from fraud” is a challenging one. As a company we have worked diligently to create systems and processes to ensure the integrity of lead flow through the LeadPoint Lead Exchange. But hey, the FBI system gets hacked every once in a while, so can our system provide 100% protection? Unfortunately the answer is no, but generally 99% is good enough.
We thus rolled out the platform, but continue to address the 1% which our technology can not address. As a company we take the most aggressive stance possible through a business component: indemnification. Our contracts indemnify buyers against potential exposure from the leads through our market, achieving our promise that every exchange is protected, as well as fair and equitable.
Many stringent legal teams of buyers on the exchange have said that LeadPoint has the most favorable buyer contract out there. I’ve been told “indemnifying buyers for consumer and/or FTC action is unheard of.” Well it was, but no one operates like LeadPoint.
Two years later as a company we find ourselves in the situation where a consumer has filed a complaint against over a dozen lenders, two of whom are participants in our exchange. So LeadPoint stepped up to defend and indemnify these two buyers and is conducting its own investigation through SecureRights, our consumer protection arm. We have protected our buyers and have engaged the consumer to clear the matter. It is my hope, that the black cloud dissipates prior to reaching our doorstep; it appears that it may.
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The impetus to bring LeadPoint to market was a goal to innovate the world of lead generation by providing more value to the companies doing the heavy lifting: those aggregating eyeballs and those acquiring customers.
It has been a challenging journey bringing the model to market, ensuring we address all the issues in an efficient manner. The company has put an extraordinary emphasis on the black cloud that is raining on the click world and is imminently moving towards lead generation— fraud.
The question of “how to protect customers from fraud” is a challenging one. As a company we have worked diligently to create systems and processes to ensure the integrity of lead flow through the LeadPoint Lead Exchange. But hey, the FBI system gets hacked every once in a while, so can our system provide 100% protection? Unfortunately the answer is no, but generally 99% is good enough.
We thus rolled out the platform, but continue to address the 1% which our technology can not address. As a company we take the most aggressive stance possible through a business component: indemnification. Our contracts indemnify buyers against potential exposure from the leads through our market, achieving our promise that every exchange is protected, as well as fair and equitable.
Many stringent legal teams of buyers on the exchange have said that LeadPoint has the most favorable buyer contract out there. I’ve been told “indemnifying buyers for consumer and/or FTC action is unheard of.” Well it was, but no one operates like LeadPoint.
Two years later as a company we find ourselves in the situation where a consumer has filed a complaint against over a dozen lenders, two of whom are participants in our exchange. So LeadPoint stepped up to defend and indemnify these two buyers and is conducting its own investigation through SecureRights, our consumer protection arm. We have protected our buyers and have engaged the consumer to clear the matter. It is my hope, that the black cloud dissipates prior to reaching our doorstep; it appears that it may.
No Comments »Tags: indemnification, lead fraud, lead generation, lead quality, LeadPoint
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