If you’re in the payday loan industry and you’re buying leads in order to drive your company’s sales revenue, then you need to ensure that they are managed efficiently. If you buy a bunch of leads from affiliate marketers (like you can with revJOLT), then lose track of them, misfile, or neglect them so that they age out, you might as well throw your cash in a dumpster.
You don’t want to do that, do you? I thought not.
4 steps to lead gen nirvana for payday loan advertisers
This article will outline the main steps you need to do to ensure your lead gen system is working and you’re finding the payday loan customers that will get you the best ROI. Incidentally, these will work pretty fine for most other types of lead buyer in the affiliate marketing world.
1. Define your qualification
How do you make sure your leads are going to be valid and motivated to purchase your products and services? How do you know they are sales-ready before you contact them?
If you have not defined your qualification criteria correctly, and just receive a bunch of phone numbers or email addresses in the next stage, contacting them is unlikely to do anything for you except run up your bills.
Get a good idea of your customer and the data that you will use to find them: date of birth, zip code, income bracket, hobbies… Consider what it is about them that signals a good lead? Then make sure the rest of your team understand this too.
2. Lead capture: connect and select
The first step in lead buying is connecting to people who will be bringing in the leads, and then selecting the best for you. There are a number of ways you can do this, but here’s ours:
With revJOLT‘s direct post technology, you can filter and select leads that match your criteria and your price bracket. This is how you can quickly optimize your lead quality and find highly qualified prospects. Pretty simple, huh?
3. Relationship management
- Once you’ve got a qualified lead, how do you keep track of it?
- Do you contact them within hours?
- Do you have an auto-response method, such as an email to establish a relationship ASAP?
- How is the lead entered into your system, automatically or manually?
- What tech do you use? A spreadsheet, or a pro CRM (Customer Relationship Management) tool?
- Is the data instantly shared to your team? Are there any file sharing conflicts?
A lead should not sit there forever. People’s circumstances can change fast when they are looking for short-term finance. If YOU don’t help them, someone else will!
What systems do you have for monitoring and nurturing your customer relation after the initial sale? Your customer should be passed into a process where automated, or near-automated communications, such as SMS push or emails are sent to keep them updated. This will require an investment in some technology to facilitate this but it will result in a much higher rate of customer satisfaction.
Another part of follow up is to find out where you went right and where you went wrong. Use customer satisfaction surveys via email or phone call to find out why someone did or didn’t select you as their provider. Keep an eye on your sales stats in general and they’ll inform you of changes and trends in the market, too.
Lead gen’s fundamental truth:
I want to share with you the one thing that many folks seem to forget when setting up a lead gen program for their business:
A successful lead buying situation is all about creating connections and keeping them regularly maintained.
Yes, it does take effort, but the results will speak for themselves when compared to an ad-hoc or chaotic approach. And if the customer feels taken care of, they will appreciate your service that much more, and give great word-of-mouth recommendations and reviews.
Sign up to revJOLT‘s lead marketplace now and start capitalizing on quality leads!