Cross-selling Financial Service Leads for Better Opportunity

Could you be missing a lot of great candidates for debt settlement? If you are only buying debt leads then the answer is, “yes.” You see, debt leads are people that self-indentify they need debt settlement services. Meanwhile, the facts are most people in debt trouble don’t have a clue what “debt settlement” is or how these programs help.

Look beyond the scope of debt leads and you could pick up your sales numbers this month.

Safeguard Consumer Intent

Before you branch out into these other great lead types make sure you are compliant with relevant disclosure, consumer intent, and DNC laws. Even better is to ensure that leads have opted-in to contact for other products and services, and for more good measure ask them for permission. One example would be to have an online request form for unsecured loan leads have an optin box right before the consumer hits the submit button or a popup box after hitting submit that allows him to click a box opting him into also being contacted by a debt counselor as long as he has at least $10,000 in unsecured debt.  By getting him to actually opt in to also be contacted about debt services the lead generator and you are not only better legally protected but the consumer is that much more likely to be interested in considering debt settlement as an alternative debt relief option. The consumer is a great prospect either way and in actuality much more likely to quality for debt settlement than for a loan anyway but you will see greater success if you can buy leads in which the consumer has taken the extra step of specifically opting in to be contacted about debt settlement.

You can approach these consumers with a very simple, trust building introduction.

“Hi, my name is Chase from Debt Settled America and although I know you applied online for an unsecured loan I think you may be able to simply settle your debt. Can I tell you more?”

Finding Debt Settlement Candidates

Where do you find these secret diamonds in the rough? Debt settlement firms seem to be finding success with online requests for any of the below:

• Unsecured loan
• Payday loan
• Bankruptcy
• Loan Modification
• Refinance (poor credit and high LTV)
• Credit Repair

Benefits of Buying Other Lead Types

1.     Troubled borrowers often look for help in strange (wrong) places. A lot of consumers who debt settlement could be the optimal solution for have never heard of debt settlement and you will never reach them if you wait for them to come to you. Start thinking about the profile of your ideal candidate and go find leads able to deliver you the best prospects.

2.     Consumer having shown interest in other lead types won’t be shopping other debt settlement firms. Be the first to offer them the option of settling their debts as an answer to their financial dilemma.

3.     Other lead types tend to allow you to filter for criteria not available in a usual debt lead such as credit, behind on payments, LTV, loan amount, income, employed, etc. and thus get to someone likely to be a very motivated prospect as well as often a very profitable one. At times they can even suggest consumers very likely to have above average debt amounts as in the case of bankruptcy leads.

4.     Lead vendors likely to give them to you cheaper since you will not be stepping on toes of their regular clients.

Give these other lead types a try and stop leaving as much money on the table. You will be surprised how well they perform. They really do represent a win win win for lead vendors, debt settlement firms, and consumers and I expect cross-selling to become much more commonplace in the lead industry.

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• What Order Should I Pay Off My Debt? (frugaldad.com)
• Public Service Announcement for Graduating Students (meganmcardle.theatlantic.com)
• Debt settlement carries costs, too (seattletimes.nwsource.com)
• Federal Debt Relief Grants: Too Good to Be True? (refinanced.blogspot.com)

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Want more information about buying aged mortgage or debt leads?
Call 949-861-3122 or visit www.nextwavemarketingstrategies.com.

Tagged as: Bankruptcy, Credit history, Debt, debt settlement, Financial Services, Loan, Payday loan