Competing over the same Debt Settlement Lead? Finding a quality Debt Settlement Lead for your company is more important than ever.
Which Debt Settlement Campaign is right for you?
I spoke with a business owner today that’s really had it with Lead Vendors. I’m not saying that all are bad, but I never really hear of any of them generating quality leads consistently. Who do they market more to? Consumers in debt or Debt Settlement business owners? Anyways this business owner has been through just about every lead provider. He’s got money to spend, and Lead Vendors sense it. We went through his marketing campaign and reviewed closing averages as well as retention rates of clients that were enrolled. He was programmed to think (as is with many Debt Settlement companies) that he should be happy with a 4-5% closing average. With those numbers he’ll never get to a $300 acquisition cost (which is his target). He’s also experienced a horribly low retention rate on clients enrolled. The retention rate can’t all be blamed on the lead – but a portion of it can be.
Most Lead Vendors maximize their leads by monetizing them 87 different ways. Consider the path that most leads travel and you’ll understand why some Debt Settlement leads are superior, and why others still can have negative effects on your retention rate for enrolled clients.
***Prospect Inquires looking for “help” with their debt
***Lead is distributed (sold) through various verticals. “Exclusive” and “Semi-Exclusive” Leads are all relative…
***Verticals that are Sold Include (but not limited to):
1. Loan Companies
2. Secured Credit Card Companies
3. Debt Settlement Companies
4. Debt Reduction Companies
5. Tax Help Companies
6. …Bankruptcy Firms
Starting to see a trend with your retention rates? If you’re relying on Lead Vendors to supply you with the majority of Debt Settlement Leads, be careful. Your lead while “exclusive” to you, doesn’t mean that it won’t be sold to another vertical.
Should you create your own marketing campaign in-house? If you’ve got a sales force of 2 or more, the answer is probably yes. It’s an investment on your end, but if you can control the underlying data (lead) you’ll be more confident in future revenues and see better retention rates.
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