By Aaron M. SmithThe credit repair industry has been under scrutiny for quite a long time. Ever since credit became the main issue when getting a loan, credit repair started creeping into the minds of any American that suffered a charge off or collection on their accounts. Finding accurate and timely credit repair leads is a challenge mainly because finding and gauging consumer motivation is critical. For example, everyone that has under a 700 score needs credit repair of some type. Whether it's removing late pays or paying off or disputing collections and charge-offs, credit repair is an important part of the sub-prime consumers list of dreams. Having great credit these days can make the difference in getting a job or promotion over someone else, it's a score card of how responsible you are as a citizen. Finding the right credit repair leads is essential to closing and ultimately enrolling consumers into your program.
Depending on how and where you conduct your credit repair program, your needs will be different. Some states require a non-profit or no advanced fee model in order to conduct business - check with your state office to fully understand the limitations of your business model. If you can charge a fee for your service up front, make sure you disclose all of the services you are going to do in the future and make sure you leave a good impression. The biggest form of leads is REFERRALS! So referring mortgage brokers, auto dealers, and lawyers that seek to help their clients improve their credit is critical in growing your credit repair leads base.
Incoming leads are the best kind, referrals, call ins, walk ins. their all great. But what are you going to do on those slow days where few customers walk through the door or the referral line is not ringing off the hook? Buying credit repair leads from a third party is full of risk but the reward may be there if you can find the right setup. The best type of credit repair leads are unqualified buyers that do not qualify because of their credit! Finding these partners is critical and paying them for the referral if they send a lot of referrals is well worth it. There are many companies that can send you leads but they will not send you leads unless you can reciprocate so think about what you can do for them as well.
No matter what leads you decide to work with, remember your conversion is all that matters. Unlike other programs most credit programs are fixed cost/profit so you can simply look at the conversion % as opposed to profit. Each lead provider will have a different cost per acquired customer and tracking this is important to your long term lead generation goals. Do not make the mistake of only working with 1 or 2 providers. You should be testing 10-20 providers and working with the top 5 even if the conversions are double between vendor 1 and 5, vendor 5 is still profitable and you don't want to lose that volume. Many leads will vary in quality from week to week and day to day so keeping a diverse lead vendor base is crucial.
Depending on how and where you conduct your credit repair program, your needs will be different. Some states require a non-profit or no advanced fee model in order to conduct business - check with your state office to fully understand the limitations of your business model. If you can charge a fee for your service up front, make sure you disclose all of the services you are going to do in the future and make sure you leave a good impression. The biggest form of leads is REFERRALS! So referring mortgage brokers, auto dealers, and lawyers that seek to help their clients improve their credit is critical in growing your credit repair leads base.
Incoming leads are the best kind, referrals, call ins, walk ins. their all great. But what are you going to do on those slow days where few customers walk through the door or the referral line is not ringing off the hook? Buying credit repair leads from a third party is full of risk but the reward may be there if you can find the right setup. The best type of credit repair leads are unqualified buyers that do not qualify because of their credit! Finding these partners is critical and paying them for the referral if they send a lot of referrals is well worth it. There are many companies that can send you leads but they will not send you leads unless you can reciprocate so think about what you can do for them as well.
No matter what leads you decide to work with, remember your conversion is all that matters. Unlike other programs most credit programs are fixed cost/profit so you can simply look at the conversion % as opposed to profit. Each lead provider will have a different cost per acquired customer and tracking this is important to your long term lead generation goals. Do not make the mistake of only working with 1 or 2 providers. You should be testing 10-20 providers and working with the top 5 even if the conversions are double between vendor 1 and 5, vendor 5 is still profitable and you don't want to lose that volume. Many leads will vary in quality from week to week and day to day so keeping a diverse lead vendor base is crucial.
Aaron writes more about getting quality leads at: http://www.blackbookdata.com
Article Source: http://EzineArticles.com/?expert=Aaron_M._Smith
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1 comments:
Just stay out of debt to begin with.
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