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If you’re in the financial services industry the terms debt leads, aged leads, mortgage leads must all be familiar to you. Debt leads can be classified as fresh and aged. Fresh debt leads are considered to be the best as they consist of the most recent list of prospects who have inquired about your service. They are on the immediate lookout for solutions. They are only moments old, making them easier to follow up on and also convert into sales. For this very reason they are very expensive to purchase.
Aged debt leads on the other hand are debt leads a couple of days, weeks, or months old. The list of aged leads that you purchase contains the names of debt leads that had inquired about the financial service but were either not contacted, did not take any debt settlement offer or were just unreachable. That’s why the term aged leads. Companies are willing to sell aged leads really cheap to get some return on their marketing expense. This is a big opportunity for you.
If you’re a savvy sales person, dealing with aged leads should not be an issue and you can get sales out of them. Some things that you should know about aged leads are:
1. Untapped Potential – Aged leads do not mean that you are not going to get any sales out of them. In fact if you end up converting even a couple of these leads into customers you recover much more than you invested. Aged leads come cheap and you have little to lose in purchasing in bulk and calling for the occasional golden nugget.
2. Help you fine tune lead management skills – If you have purchased debt leads when they were fresh off the market and not been able to convert them into sales, it is an indicator of your poor lead management skills. Letting fresh debt leads and mortgage leads age while you tune your sales process costs you lots of money. Using aged leads allows you to get that lead management and sales process fine tuned, without wasting precious marketing dollars.
3. Valuable training material – If you feel your leads have become outdated due to the current economic situation, use these aged leads as training for your sales. You may end up closing a sale and at the same time identify some hotshot sales talent.
4. Quality of aged leads can be a great way to test for good lead provider – When you purchase aged debt leads online and they are plagued by bad contact information – something is wrong with their marketing methods. Buying aged leads can be a cost effective way to test multiple lead providers’ data quality–before you spend a lot of money.
5. Classify aged leads according to financial needs and not time – When you purchase aged leads, use your CRM system to immediately classify them based on what they need and how you can assist them and not on the basis of how old they are. This will help you contact your most likely clients leaving the other aged leads for later follow-ups.
Aged leads can form the pillars of your business if you have the right lead management system in place and make your debt lead purchases from a reliable source. Remember, finance leads rarely really age–they always need your help and guidance. So, try aged leads in your sales plan.
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