What price for debt management leads?

Most industry professionals in the debt help sector who have ever purchased leads will understand that conversion is all down to the ability of the purchaser to sell the product to the client. Debt management leads providers will always distance themselves from sign-up rates and repeat the message that they are the suppliers – not the closers – and as long as they have provided leads that meet the criteria, then their job is done. They will of course always tell you that sign up rates for their leads are better than all the other suppliers of course…

Loan brokers, mortgage brokers, debt management companies, claims management companies and similar companies will all have had experience in lead purchasing. It can take weeks to train a tele-canvasser to anywhere near the required standard to be able to convert the majority of purchased leads into business, and even the most experienced tele-canvasser cannot convert every single lead. Therefore, it is a constant frustration that rarely can 100% of a batch of leads be converted – always leaving the question ‘what if…’ This is in itself one of the reasons for the success of the lead-selling industry, as they will secure many repeat orders on the basis that some were good, others weren’t but next time they promise that it will all be ‘top notch’.

Reality is that it is impossible to convert 100% of purchased leads if they have been bought with the intention of only selling one core product to them. Even if every lead meets the criteria that the supplier has promised, there is no guarantee that the client will want to sign up for the service. Even if the leads are 100% genuine, as promised, and even if it will save people thousands of pounds if they utilise the service – there will always be those clients that just don’t fancy it.

Facts of the matter are, that by having a narrow range of services to offer, you reduce the numbers of potential sign-ups you could possibly achieve from purchasing leads. Therefore the solution to maximising lead conversion is quite simple – offer more services! It’s almost commercial suicide – especially in the financial sector with the current climate – not to offer a full package of services dependent upon client circumstances. Indeed, it could even be deemed as breaking ‘best advice’ guidelines in some circumstances.

The ‘usual’ range of services that are usually looked at in regards to assisting a client with debt problems are consolidation options (such as remortgage), IVA’s, debt management plans, DRO’s, Admin orders, Bankruptcy and a few others (such as Trust deeds in Scotland etc). What professionals such as mortgage and loan brokers should consider when purchasing debt management leads is – what other products could suit the client if debt solutions options are either not relevant or rejected by the client? Only once the financial professional adds more products and services to their portfolio can they be truly satisfied that they are ensuring maximum return on those risky lead investments.

UKMS Introducers work with hundreds of Loan Brokers across the UK who offer their clients personal loans, unsecured loans, secured loans, bad credit loans, payday loans etc. All loan brokers are welcome to get benefited from UKMS debt management referrals.