Exclusive Internet Loan Modification and Foreclosure Defense Leads vs. Aged Internet Loan Modification and Foreclosure Defense Leads

For many loan modification and foreclosure defense firms, outbound calling on aged leads is unthinkable.  The excuses offered are typically my sales people won’t outbound call and the quality of aged leads is subpar.  There is not one ounce of me that believes that is true based on years of working in the mortgage industry where my success was almost exclusively based on working with aged refinance leads.  Perception is reality is a huge limiting factor for sales management and owners when it comes to the value and productivity of aged loan modification leads.  For the purposes of this discussion, we are going to take a look at closing percentages and costs per closed deal in a detailed look at real time exclusive internet loan modification leads versus aged internet loan modification leads.

Let’s Start with a Review of the Pros and Cons of Each Internet Loan Modification and Foreclosure Defense Leads.

Pros of Real Time Exclusive Internet Loan Modification and Foreclosure Leads

  1. Leads are Opt-In with Homeowners interested in and looking for payment relief, Loan Modification and Foreclosure Defense Services.
  2. They are delivered in real time posted to a Lead Management System or delivered to Email.  As soon as they hit submit the inquiry is delivered to the Loan Modification/Foreclosure Defense Service Provider.
  3. Leads are Exclusive and are sold to One Loan Modification/Foreclosure Defense Firm meaning Less Competition.
  4. Exclusive Internet Leads are a Good Source of Consistent Volume of New Leads.  A Loan Modification or Foreclosure Defense Lead Buyer is able to schedule as little as 10 Leads per Day to whatever they have budget for.  Plenty of Leads Available!
  5. Exclusive Loan Modification Internet Leads convert between 8 and 15% and sometimes Higher.

Cons of Real Time Exclusive Internet Loan Modification and Foreclosure Defense Leads

  1. Exclusive Internet Loan Modification and Foreclosure Defense Leads are Inquiries and will not necessarily be waiting for your call once the prospect hits the Submit Button.  Short Term Contact Ratios range from 45-60%.  It is unlikely that 100% of the leads are contacted over time but those percentages will increase.
  2. While Exclusive Internet Loan Modification and Foreclosure Defense Leads are sold to one company, Lead Providers cannot control whether or not the Homeowner that has inquired has gone to multiple Payment Relief, Loan Modification and Foreclosure Defense Sites and filled a form.  Expect competition no matter what.
  3. Exclusive Internet Loan Modification and Foreclosure Defense Leads are higher priced and to get a good Return on Investment there is little room for anything other than working them to the bone.  Some firms just don’t have sales teams that appreciate leads to the degree they should and for many sales people, changing their mentality is an uphill battle.
  4. Getting the most out of Exclusive Internet Loan Modification and Exclusive Internet Foreclosure Defense Leads requires attention to detail and good stewardship of Leads.  Despite sophisticated Lead Management Systems, some Owners and Sales Managers for one reason or another do not take advantage of the Leads with monitoring and lead reassignment when necessary.
  5. When Exclusive Internet Loan Modification and Foreclosure Defense Leads are purchased every week, the tendency of sales people to abandon the previous weeks leads increases.  Why?  When you have fresh leads every day of the week why work the one’s from the previous weeks?  We cannot underestimate that most sales people look for easy sales with minimal effort.  If they are fed more fresh leads, they will give up on their aged leads.

Pros of Aged Internet Loan Modification and Foreclosure Defense Leads

  1. With Aged Loan Modification and Foreclosure Defense Internet Leads you can get way more for your money. While the Exclusive Loan Modification Internet and Foreclosure Defense Lead Buyer spends $2900 for a batch of 100 leads the Aged Internet Loan Modification and Foreclosure Defense Lead Buyer can pick up around 5000 leads for less money.
  2. With more leads for the money with Aged Internet Loan Modification and Foreclosure Defense Leads, there will never be Sales Representatives that are idle.  Boredom and lack of leads kill companies!
  3. With new Sales Representatives, Aged Internet Loan Modification and Foreclosure Defense Leads represent a cost effective way for them to get into the sales column and if they blow a few leads it does not break the bank.
  4. At the very least, Aged Internet Loan Modification and Foreclosure Defense Leads will provide extra opportunities to relentless Sales People and will cover gaps in new lead campaigns.  Aged Internet Loan Modification and Foreclosure Defense Leads Are a must have for every firm in the Loan Modification and Foreclosure Defense Industry.  They enhance what you are already buying as fresh leads.
  5. Deals closed from Aged Internet Loan Modification and Foreclosure Defense Leads will help lower average costs per close and lead to greater profitability.

Cons of Aged Internet Loan Modification And Foreclosure Defense Leads

  1. Aged Internet Loan Modification and Foreclosure Defense Leads require sustained effort and phone work.  These are not for pampered sales representatives that have to have Real Time Exclusive Internet Leads or Inbound Calls or Nothing.  While I do not agree with sales people with this mentality I will not deny their existence and the difficulty in changing them.
  2. If your sales people don’t work them thoroughly or they are not held accountable to working them, they are a waste of money.
  3. Some of the Homeowners reached in batches of Aged Loan Modification and Foreclosure Defense Internet Leads will be upset for a variety of reasons including they may have been scammed by another company, already lost their home or forgot that they inquired online.  The frequency of the attitude you get from homeowners is turned up with Aged Internet Loan Modification Leads.
  4. Aged Internet Loan Modification and Foreclosure Defense Leads are not one call closes.  Sales people have to get after them and follow up with a purpose.  Your sales people may not be self-motivated enough to work them.

The Math Equation that Brings the Debate Between Real Time and Aged Internet Loan Modification and Foreclosure Defense Leads into Focus 

Real Time Exclusive Internet Loan Modification and Foreclosure Defense Leads

100 Leads Purchased @ $29 Each = $2900 Expenditure

Assume 10% Conversion of Leads to Sales = 10 New Sales

Cost to Bring in a New Sale = $290.00 per Deal ($2900/10 New Deals)

VERSUS

Aged Internet Loan Modification Internet and Foreclosure Defense Leads

5000 Aged Internet Leads 30-90 Days Aged Purchased @ $.50 each = $2500 Expenditure

Assume 3% Conversion of Leads to Sales= 15 New Sales

Cost to Bring in a New Sale= $166.67 per Deal ($2500/15 New Deals)

A Couple More Things to Point Out in the Debate between Exclusive and Aged Internet Loan Modification and Foreclosure Defense Leads…………..

  1. Companies are getting more leads for their money and reducing their costs per close with Aged Internet Loan Modification and Foreclosure Defense Leads.
  2. Even if shifting to a model where sales strategy is focused solely on Aged Internet Loan Modification and Foreclosure Defense Leads is out of the question does not mean Aged Internet Leads should not be a part of the marketing strategy and budget.
  3. As the volume of your Aged Lead buys go up the price will come down per lead giving you more cracks at lowering your average costs per close.
  4. If you ever have idle sales people between fresh lead campaigns it is always more productive to have them working on Aged Internet Loan Modification and Foreclosure Defense Leads.
  5. Exclusive Internet Loan Modification and Foreclosure Defense Leads are a valuable lead and companies with large budgets can afford to waste them and still have their business model be profitable.
  6. Aged Internet Loan Modification and Foreclosure Defense Lead Buyers will continue to thrive with the waste of Fresh Lead Buyers.



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