Last night I sat on the couch with my husband discussing a work related issue. I had been talking for about 5 minutes when he asked to me stop and back-up- “Wait, why are your cross-sell leads better?” I have to admit I was a little bit frustrated at first, and the thought crossed my mind, “what have I been talking about for the last five minutes?” Then I realized, when we refer to “a lead” at Micronotes it is vastly different from what the financial industry understands as a lead. I assumed that when I said our technology, KulaX, generates “warm leads” that my husband would know what I meant, and the truth is that a “lead” to Micronotes and a “lead” to the rest of the industry are not the same. So I’d like to stand up on my soap box for just a brief moment and explain what we mean when we say “warm leads” or a KulaX generated lead.  

Industry lead- Wikipedia (the great internet knowledge source) defines lead-gen as, “generation of consumer interest or inquiry into products or services.” That is fair enough. In the marketing world, and specifically for financial institutions, if a potential customer expresses any form of interest he or she becomes a “lead.” Thus an industry lead is anyone who has expressed interest—a marketer has no idea how far along in the sales funnel the lead is.

KulaX lead- in comparison a cross-sell lead generated by KulaX is rich with information and guidance for the sales person. Every lead generated by KulaX has been targeted, interviewed, and the consumer has accepted a promotional offer for a specific financial product. The sales person who received a KulaX lead knows who the customer is, if they have the specific financial product with another bank or not, how interested they are in the product and a potential incentive that could close the deal.

If I were a sales or marketing employee at a credit union or bank tasked with cross-selling products to customers, there is no question that I would rather follow-up on a KulaX lead than a regular, industry standard lead.

Here is an example of KulaX leads

In conclusion, our leads are better because they allow marketing and sales teams to intelligently follow-up with customers, tailor conversations to the customer’s situation, and close the sale.