The 15 day clean up crew can boost ROI.

The height of the mortgage boom competition was at an all time high. One can argue that between 2004 and 2007 mortgage lead buyers were participating in the most competitive lead generation vertical of all time. Leads were being matched with up to 5 lead buyers, and an some cases even more. Not only were lead gen companies selling leads multiple times but there were also a few lead buyers that resold their data as well. It was very challenging to convert leads at decent conversion ratios.

Mortgage lead buyers realized the importance of speed to contact, but many also realized what the consumer was experiencing during the first week after filling out a lead form. In most cases all 5 companies, and sometimes more, called the leads quickly and extremely often. Because of this many leads simply stopped answering the phones. They stopped answering the phone until the calls actually started to slow down or stopped altogether. The savvy lead buyers came through the back door, sometime around day 12-15, and began calling the lead again. Many of them were very successful with this tactic and increased their bottom line ROI.

This same tactic can be used in any competitive market, and frankly the point of the story is not to give up leads after a week. Understandably we know their are studies that provide recommendations on what is the optimal amount of times to call a lead, but one should not consider it a recommendation to stop calling or nurturing the lead altogether. Regardless of the vertical buyers should consider, not just sending an email, but recirculating aged leads amongst their sales staff. In many cases the lead will be initially overwhelmed with the amount of information that is presented to them and subsequently not make a decision at all. Following up with a number of scripted calls at a time where the majority of calls have ceased and the lazy competition has dropped off.

Think about it. Are you giving up on leads too early? The next question this may lead to is whether or not you are buying too many leads.

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