Putting in the time to research will save you money and increase your teams performance.
Some Tips on Vetting the Basics: When you begin your search for a lead provider start with the basics: Are they a legitimate business? Do some Google searches, check BBB.
org, look for an address.
Do they have a good reputation? Ask people in your industry, forums, on Twitter Do they have qualified people? Check LinkedIN, blogs, social networks Looking up these inquiries should give you a feel for whether you are dealing with a reputable lead provider.
Always start your search for your lead provider with as much information as possible.
This way you will be able to verify their sales pitch and claims when you contact them.
How are you Generating Leads? This is a crucial step in the process.
However, unlike most I won't claim that any particular method is the "best.
Choosing the lead provider needs to be based off your business model, products, services, and budget.
I have seen people be equally successful with aged mortgage leads, email generated leads, and highly brand-based LendingTree leads.
The important consideration in this step in the process is to know what you are getting, how they may differ, and what to expect during the sales process.
A good discussion with a lead provider about their leads, how they are generated, and what makes their clients successful will lead to higher conversion and more loans.
Performance Expectations What kind of conversion rate should I expect? And, how do I get that kind of rate? These are very fair questions to ask your lead generation company.
After all, you are building a business plan.
Unfortunately, your answer is probably going to be vague.
Make sure you stick with the line of questioning though.
Have them give you examples and best practices.
Get examples of what is working for their best clients, and what are the common mistakes they see--then listen to them! All too often I see lead provider give good counsel on their leads and mortgage or debt companies stubbornly disregard the advice.
Remember these guys may not be professional loan officers or debt counselors, but they know their leads.
Building a Partnership The best sales organizations in the nation, that buy leads consistently, are ones that form a partnership with their lead provider.
They are the guys and gals that exchange information, provide performance data back to their lead provider, and include them in their regular sales meetings.
The key to increasing your lead performance is vetting the right lead provider for your mortgage and debt business.
Finding the right Internet lead provider can be like finding gold, your sales force will be striking it rich.