Leverage Database Marketing

The average Internet lead buyer is churning and burning customer inquiries like the impersonal lists in which they are delivered. In contrast, the savvy database marketer sees those lists filled with consumers, buyers, people with financial needs that will need solutions.

The secret database marketers get is that the conversion of leads to clients is often only a matter of time, not necessarily technique.

The average mortgage or debt settlement sales force spends hours on scripts, clever phrases, overcoming objections, and soft closings. But, any good database marketer can attest that most closings and even more fall-outs are a function of timing, not sales techniques.

So, the next order of business is to find a database and start marketing…

Building a Targeted Database

If sales are a function of timing the most important element of your database marketing plan is to find a good base of targeted customers. Ideally these are customers that are interested in your products and services–mortgage, debt settlement, or even loan modifications. Traditional database marketing might be satisfied with a list of people of a certain age, location, or maybe even income. But, there is a much better way–aged Internet leads.

Aftermarket leads, like aged mortgage leads or aged debt leads, give you a lot of advantages that will jump start your database marketing campaign. Here are a few:

• Leads are customer inquiries
• Data includes qualifications and product preference
• Data is provided by the customer
• Leads typically enhanced and quality reviewed

All this for about the same cost as a cursory demographic segmented list.

Automating Your Lead Generation

Taking these premium customer leads and entering them into your database marketing campaign is certain to lift your conversion and ROI. By simply increasing the propensity of the customer to be interested, by using opt-in aged Internet leads you will enhance your results.

Changing nothing more than your lead source from raw data to vintage Internet leads can turn your arbitrary marketing into targeted direct marketing. All of the sudden you are automating your lead generation with great leads and proven database marketing.

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Next Wave Marketing Strategies brings over 5 years of integrity, innovation, and client satisfaction to the aged debt leads market. We offer industry leading quality control, data cleansing, and a generous return policy to empower you to build your business in the fastest, most cost effective manner. Learn more about aged debt leads.

What Are Aftermarket Leads?

Aftermarket leads are Internet leads that were not sold into the real-time marketplace. These leads are excess supply or undersold from some of the top names in online lead generation. That means you are getting the same great Internet leads that your competitors are paying $20-$40 a lead to get in real-time.

Aftermarket or aged leads are generated with the same premium marketing methods and quality control as the real-time leads. However, due to a shrinking list of lead buyers many of these great leads go without distribution. This is your opportunity!

Why So Cheap?

As you may have noticed, aged Internet leads are only a small fraction of the cost of a real-time lead. Does that make them of lesser quality. Certainly not, they are generated in the exact same way.

So, why are they so cheap?

• Most lead providers guarantee real-time leads
• Leads are time-stamped and therefore quickly disqualified
• Lead providers must maximize their monetization
• Long-term media buys require cashflow to sustain volume

These factors mean that online lead generation businesses must met their obligations to their clients, but very quickly are in a position of aged leads. This leaves a lot of lead volume on the discount rack–the lead aftermarket.

How Do I Get the Most Out of Them?

The quality is there and the price is right on these aged leads. However, to get the most from them it will require discipline on your part. As you can see from what I have described these are leads that are a bit bruised, but full of opportunity. Getting the most out of them requires an understanding of the customer perspective and a good lead management process.

The customer being delivered in an aftermarket or aged lead likely fits into one of two categories:

• The customer has never been called, or
• They have been called one to two other times

Most Internet leads are distributed (or sold) four to five times.

(That’s right if you were to buy one of those $20 leads you would be competing with at least four other mortgage or debt settlement companies.)

However, if you buy an aged lead you will be talking to a customer that is frustrated because they have never been called about their Internet inquiry or haven’t been called back by the first one or two lenders in days. Your sales strategy should attack that opportunity. Be very attentive, listen to their needs, and follow-up, follow-up, follow-up.

Your extra sense of urgency will certainly land a lot of these underserved clients.

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Next Wave Marketing Strategies brings over 5 years of integrity, innovation, and client satisfaction to the aged debt leads market. We offer industry leading quality control, data cleansing, and a generous return policy to empower you to build your business in the fastest, most cost effective manner. Learn more about aged debt leads.

(photo credit: TheTruthAbout)

Real-time Mortgage Leads

Real-time mortgage leads are built on the premise that people go to the Internet for speed. Consequently, real-time lead providers have built systems and processes that generate huge volumes of leads and deliver them immediately with little or no quality control.

The paradigm worked wonders in a (past) market where everyone needed to refinance and profits ran high. This is not that market. The credit crunch has led to surges in unqualified lead volume, at the same prices.

So, as you look at your marketing budget and sales production you may notice a big disconnect. Meanwhile, your sales floor is up in arms over bad, unqualified leads.

Aged Mortgage Leads

Time to re-align your marketing and sales objectives.

Sales needs leads to survive and produce, but marketing has to come inline with current sales revenue. That means getting more efficient or finding cheaper lead sources.

Chances are banks and mortgage company’s credit standards, combined with lead generation filtering challenges are going to make getting more efficient tough. So, that leads you to reduce your spend and preserve quality.

Aged mortgage leads are the strategy a lot of mortgage businesses are pursuing. These aftermarket Internet leads offer a dramatic cut to your marketing spend for essentially the same quality marketing methods.

Good Quality, Right Price

Add to this the gains you can get by additional data enhancements and cleansing that quality aged lead providers do and you are back in the money.

Look for aftermarket leads that are generated with reputable marketing methods, find a good aftermarket lead aggregator, one that enhances the data and you have a winning lead strategy.

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Next Wave Marketing Strategies brings over 5 years of integrity, innovation, and client satisfaction to the aged mortgage leads market. We offer industry leading quality control, data cleansing, and a generous return policy to empower you to build your business in the fastest, most cost effective manner. Learn more about aged mortgage leads.

photo credit: tnarik

Consider adding aftermarket mortgage leads into your mortgage marketing and sales strategy and you may get a whole new perspective on the future.

Mortgage Leads are Expensive

Internet mortgage leads tend to be expensive and are never exclusive. This makes $20-$40 per lead seem like a sure way to dump your hard earned cash down the drain. Converting these types of mortgage leads at an industry average of 4%-6% leaves you upside down pretty quickly.

Most of this large price tag is the result of expensive up front marketing cost and the infrastructure to deliver these leads in real-time. The perception is that this is the only way these leads will convert into borrowing clients.

However, the reality is that due to enormous inefficiencies most of these expensive leads are never sold or sent to lenders. This leaves lead generation companies with little option other than to recover some of their marketing costs by selling leads that have not been sold up to the allowed 4-5 times or whatever it may be on an aged basis to lead aggregators or directly to lenders or mortgage brokers. They often do not advertise aged leads on their sites for direct sale to lenders as that would undercut their bread and butter business of selling real time leads.

The result: a great “aftermarket” lead that has never been worked. Yet, an online lead generator must sell these leads at pennies on the dollar because of their “real-time” promise. More and more lead generators are being forced to sell more and more of their inventory on an aged basis to generate revenue that is getting harder and harder to come by with every passing month, of late.

This is your opportunity!

Aged Leads are a Great Alternative

As you can see, with little or no reduction in lead generation quality and only lost time, aged leads can be a very attractive alternative.

At a price point of less than $1, you can slash your marketing budget and likely get the same level of sale production. In fact, with your increased marketing buying power, you are likely to significantly increase your total closed loans.

In addition, aged leads can be great tools for live sales and product training. These less expensive leads can allow your loan officers to train and produce loans at the same time. This prevents any loss in production, while keeping your sales team at the top of the competency curve.

Lower Mortgage Marketing Cost

Not only is shrinking your marketing budget important to the overall business, it can be critical to the profitability and competitiveness of each deal. As margins continue to compress in the mortgage business you need to originate for less.

Aged mortgage leads can be the perfect strategy for lowering your cost per funded loan–a critical metric in any lending operation. This can be the key to immediately returning your mortgage lending operation to profitability, or even growing it.

Increase Mortgage Sales

Chances are that as your loan applications have shrunk you have begun to starve your loan officers or mortgage brokers for leads. This can be a dangerous path in a tough market.

Aged leads are the perfect way to fill that gap and keep your marketing budget low and sales flowing. As you begin to perfect the aged leads sales process you are likely to discover they improve your efficiency and sales, while reducing cost per closed loan.

This phenomena leads many mortgage brokers to switch to 100% aged leads as their mortgage marketing strategy.

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Next Wave Marketing Strategies brings over 5 years of integrity, innovation, and client satisfaction to the aged mortgage leads market. We offer industry leading quality control, data cleansing, and a generous return policy to empower you to build your business in the fastest, most cost effective manner. Learn more about aged mortgage leads.

What are Aftermarket Leads?

Aftermarket or aged leads are the great secrets of the online lead business.

These are genuine, motivated customers that have gotten lost in the high pace call center environment. Generally, these leads are generated in the same way as $20-$40 online leads are generated (i.e., search, display, PPC, and email marketing). However, due to the massive inefficiencies of lead filtering, delivering, and follow-up, millions of borrowers are tossed to the floor. In fact, some studies say that number is as high as 60% of all Internet leads.

This means big opportunity. Even for a green Internet sales force. And, the price makes it an enormously profitable marketing strategy with lots of room for mistakes.

How Can They Help Train Debt Counselors?

This is why aged debt leads are such a great idea for new hires and ongoing training. At less than $1 a lead, a sales person can afford to lose a few deals as they are getting used to calling on customers, sorting out new debt settlement programs, or transitioning into the debt industry.

Most buyers of aftermarket debt leads are effectively implementing their aged leads into a training, volume filling, and ongoing performance improvement strategy. This reduces their marketing budget and risk as they more quickly ramp up an effective and competent sales force.

Aged Leads May Become Your Primary Leads

The ironic part about aftermarket leads is that because they are often enhanced with quality control and advanced “scrubbing” mechanisms. You may find that they are better than your real-time leads and certainly more profitable.

Depending on your lead management and sales process you may find aged leads to be a better value as your primary lead source.

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Next Wave Marketing Strategies brings over 5 years of integrity, innovation, and client satisfaction to the aged debt leads market. We offer industry leading quality control, data cleansing, and a generous return policy to empower you to build your business in the fastest, most cost effective manner. Learn more about aged debt leads.