Aged leads are underserved customers and aftermarket opportunities. That means they may come a bit bruised and damaged. However, smart sales strategies and proper lead management can turn these cheap leads into gold.
Since buying aged leads is certainly a volume game, being organized and methodical is crucial. You need a plan and you need to execute that process relentlessly.
Start with a Script, End with a Conversation
Like I said these are more than likely damaged customers. They either have never been called about their Internet inquiry for financing (40%-60% are never called) or they have only been called by a couple of companies (Internet leads are typically sold 4-5 times) with lackluster follow-up. Consequently, that first call is going to need a smooth, empathic introduction. I recommend scripting the first 5-10 seconds.
After the opening script though it is about a conversation. Many of these clients will have already been hit by a churn and burn call center. They are expecting you to jam them into any old product–break the pattern show them you are interested in their needs.
Focus on Trust Building, Climb the Distrust Mountain
The first and constant theme you need to reinforce with these customers is trust. They need to trust you, which means you are continually reinforcing your promises. One of my favorite bloggers from the mortgage industry describes this best as, “Scaling Distrust Mountain.”
Morgan Brown is talking about the sales and lead management process for working Internet leads. This process is critical and success all comes back to a very basic technique:
Make frequent, small promises to the customer and NEVER break one.
This simple and easy technique, will put you head and shoulders above the majority of your competitors–bringing you a trusting, loyal, long-term client.
Listen First for Better Solutions
Another key element to trust building is really trying to help the customer. That means listening first. To find the right mortgage product or recommend the ideal debt settlement solution you need to understand their complete financial picture.
Listen, ask questions, and then offer choices. Recommendations that a customer understands and has some participation in always makes for the best solutions.
Follow-up, Follow-up, Follow-up
Much like promises and “scaling distrust mountain” following up is your commitment to that client. Make sure you do it diligently.
Give them your email, work number, and cell phone. Make them feel comfortable contacting you at any time with questions. Try to answer every email or phone call within twenty-four hours–even if you don’t have the answer.
Even better, be proactive. Give them frequent updates even when nothing is going on. So, often people lose deals because a client was stewing in confusion and misunderstanding. A quick five minute check in will seal a lot of business.
Lead Nurturing Brings Future Buyers
Not all customers are ready to commit to a mortgage or are still nervous about consolidating or settling there debt. That is okay, but don’t treat them like many others do. Those customers don’t go into the trash can–they go into your lead nurturing campaign.
Put these aged lead customers on an email list, tickler file, or professional lead management system. Educated them, check on them, and when their needs change be ready to help.
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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.
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Many companies just simply don’t make contact with many of their leads. And a lot of times they only make one to three attempts. You’re exactly right in that old leads can be a gold mine. One client of ours hired a rep just to call on old leads and he produced more qualified leads on average than most of the other sales reps.
And don’t forget, contacting web leads immediately will give you the highest contact rates. If the first call is not within 10 minutes of the lead being submitted it is 20 times less likely to be contacted. This is one of the reasons why so many web leads go uncontacted.