Debt Settlement is a hard industry. For the settlement companies and for lead providers looking to provide a quality debt lead. Not that most debt lead providers are not trying, the reality is that a good debt lead is hard to generate. Why? Well we will try and shed some light on this issue.

There is much debate on this subject and many are quick to just blame the lead provider for being bad. The truth is that a lead provider or the debt settlement company themselves can generate 10 debt leads online from search or contextual ads and never be able to reach 20% or have around 10-15% put in false information. What consumers think is on the other side of the debt form is a mystery. Why put in false information if you clicked the online ad, read the page and took the time to fill out the form. We will save that for another time.

The responsibility at that point falls in the lap of the lead provider. There is always going to be false leads submitted. The lead provider must have in place a solid quality control process. This can be done with services that verify data in real time or by using in house agents to verify the information. Data verification services that may link to your lead delivery system are great because they are fast and the cost is set. Issue is that many of these services will return incorrect information forcing lead providers to trash a good lead. Either way it is done a lead provider must provide a quality control process that works.

Contact rates on debt leads as we mentioned above are lower than many other verticals. A look into the mindset of consumers applying for debt help may help us understand this issue. Debt Relief or Debt Settlement is not as urgent as saving a home from foreclosure, lowering a mortgage rate because rates are going back up or refinancing to get cash in your pocket. Debt Relief applicants want help, need help, but many are not pressed to take care of this issue now. It is human nature to be sitting at work and thinking I need to get rid of this credit card debt, apply online then next thing you know your mind is taken to an entirely new issue - you may even need to do some work. Can you believe that.

So what can be done to combat this issue. Real Time Debt Leads with a Real Time Reaction!

Debt leads that are not real time are going to suffer when it comes to contact rate. You have a 1 to 5 minute window to call an applicant before they get side tracked. The other part of the equation is Real Time Reaction. We will discuss this subject a lot on this Blog. Real Time Reaction is simply the process and speed in which a lead buyer reacts to a new lead.

Here are some key points to Real Time Reaction below, we will be discussing each of these items in future post.

1. You must have some type of lead management system or CRM. You may be a whiz at excel, at your computer all day, but I guarantee you are missing out on sales managing leads manually.

2. Your script for calling on leads. You need to know where your leads applied, how they applied and write a custom script for each. If you call a lead and say “Hello my name is John with Clueless Debt Settlement calling about your need for Debt Relief”, then the applicant may be confused if they just applied on LowDebtNowPlease.com based on an email they received.

3. Your Caller ID. What does your Caller ID say? These applicants are running from creditors. Should your Caller ID say “Debt Agency” or “Debt Collection Help”. Think about it.

Stay tuned for more post by the Lead Closer Team!