Issue 9

Lead generator Day Pacer tagged for violating the TSR, sales referrals vs. lead gen tech for mortgages, and insights from LeadsCon Connect.

FTC Seeks $28M Penalty Against Lead Generator
On September 1, an Illinois federal court ruled that lead generator Day Pacer and three of the company’s executives violated the Telemarketing Sales Rule (TSR) over 4 million times. The penalty is forthcoming, but the FTC is looking for a whopping $28M fine! The defendants’ claims, including that the TSR is unconstitutional, were all rejected by the court. Alston & Bird’s Terance Gonsalves has an insightful breakdown of this ruling and the case in which the defendants made “at least 3,669,914 calls to phone numbers on the DNC registry.”

600+ Gather in Chicago for the Inaugural LeadsCon Connect Program
The industry came together for last week’s LeadsCon Connect program in Chicago, providing a brand new opportunity for the lead gen community to network, exchange ideas, and stay on top of market innovation and regulation. ICYMI, here are a few insights from fall’s new must-attend event:

In a fireside chat with Joey Liner, Francesco Fagnini, VP of Growth at Achieve, a debt consolidation provider, emphasized the importance of setting accurate expectations when educating consumers. Fagnini highlighted that accurate marketing is crucial, as unrealistic expectations can lead to problems within the industry.
Zac Bitsoi, Director of Affiliate Marketing at smart home company Vivint, emphasized the importance of clarity when evaluating new partners during an interview with Jennifer Apy. He identified a lack of specificity about services and commissionable actions as a significant red flag, highlighting that ambiguity can hinder success. While he doesn't require excessive detail, he stressed the need for enough information to ensure partners deliver as promised.
Todd Kossow, Director, Midwest Region at the FTC and Michele Shuster, legal counsel in the lead generation industry, discussed the FTC's complaint against Yodel Technologies. Kossow highlighted that Yodel purchased leads from Viceroy Media, a digital marketing agency that collected personal information and claimed consent for robocalls. Yodel then made 14 million robocalls, which the FTC deemed improper due to the lack of valid consent.

Sales-Driven Referrals vs. Lead Gen Tech: What’s Really Driving Growth in Mortgages?
“In a business where not all that long ago, relationships were created and maintained by walking into real estate offices carrying a box of donuts and a pile of rate sheets, technology can make the difference,” writes Brad Finkelstein, originations editor at National Mortgage News. Finkelstein’s in-depth piece features perspectives from industry participants, including that of Gregg Harris, a mortgage broker who recently developed a consumer-oriented product and pricing marketplace under the LenderCity brand.

Lead Prosper Adds New Feature to Securely Pass Sensitive Data
Lead Prosper just introduced a new feature that gives users the ability to securely pass sensitive data from a supplier to a buyer, without ever storing the actual values. The announcement is particularly relevant for financial verticals including mortgages, business loans, auto loans, and Medicare users working with sensitive information like social security numbers, banking details and credit card information.

Lead Generation Partnerships: Vetting Partners & Maximizing Your Relationships
In today’s regulatory environment, finding and formulating the right lead gen partnerships can be the most critical tactic for achieving growth. LeadsCon was fortunate to sit down with this power panel of industry experts to discuss tips and how to avoid costly mistakes on your quest to identify new partners for growth. While we’re here, it’s time to get an early start on mapping out your 2024 calendar! LeadsCon 2024 in Las Vegas promises to be the best opportunity to meet your next growth partner. Register now and get your ticket for just $999.

Lead Prosper
With Lead Prosper’s powerful lead distribution software, anyone can build automated, real-time API connections between lead sources and destinations. Easily test new data streams, build more profitable relationships, and grow your business with the company that was recently awarded “Best Lead-Gen Partnership” at Everflow Connect. No contracts — no monthly minimums — no hidden fees. Start your trial today! To learn more about Lead Prosper, click here.