July 5, 2018 | By RGR Marketing Blog

How to Tell Which Solar Lead Merits the Most Attention… Now!

Leads in the solar installation business typically come in a wide variety of shapes and sizes— referrals from prior customers, organic leads generated by your own digital assets and other advertising spends, and purchased leads, to name just a few.

How you decide which leads should get the most of your staff’s attention and when can make a huge difference in the overall productivity and profitability of your sales team and your business as a whole. In this post, we go through the various attributes of a high-quality lead and how to distinguish it from a lead that may not be of similar quality.

The Variable Cost and Value of Solar Installation Leads

The relative value of any given solar installation lead can vary greatly depending on a wide variety of factors. These factors include the location of the customer in the country, the relative cost of energy at that location, and the average rate of conversion in the area in question.

The general attractiveness of solar as an investment in the customer’s region, as well as the local incentive structure (both socially and monetarily) for going solar also will play a role in the lead’s relative value.

Other factors that influence a solar lead’s value include the source of the lead and whether or not it is organic, as well as whether the lead was purchased and the number of solar installation companies the lead was sold to.

Organic vs. Generated Solar Leads

Organic leads, those where the connection was made by the potential customer’s interest and interaction with your staff, generally have greater intrinsic value than leads that result from any number of various outbound lead generation strategies, regardless of whether they are telemarketing, email, digital advertising, or otherwise in nature.

The reasoning behind this distinction in value is relatively obvious, but still worth speaking to. A consumer that is interested enough in converting to solar power that they have gone to the trouble of looking into the purchase and actively soliciting information from installers is most likely closer to conversion than a consumer who merely clicks through a link in an advertisement.

Purchased Solar Leads and Market Forces

Purchased leads have intrinsic value. And, even in markets where their average conversion rate may seem staggeringly low, they generally lead (often through referral) to further business. That said, the market forces in any given state or region of the country can play a huge part in the value (even) of high quality, exclusive purchased solar leads.

Basically, in areas with high energy prices, strong incentives to go solar, and high demand—areas with strong competition from a variety of well-established installers—purchased leads are of lower intrinsic value. This is true primarily because they are much more likely to be sold to multiple installers directly, or through third-party brokers.

The Value of Valuation of Solar Leads

Knowing where and how to apply your team’s energy can make all the difference. And, while most professionals in the solar installation business understand the intrinsic value of leads and the fact that one closed sale can generate several thousand dollars worth of referral business, understanding how to prioritize your actions working the pipeline can be less intuitive. Ultimately, the valuation of solar leads can make a huge difference in your profitability.

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