Aged mortgage leads can easily become your most productive and profitable marketing segment. Remember each of these mortgage leads had some intention when they submitted their contact information.
Your mission is to find that intent and re-ignite it!
There are 5 proven strategies to nurture aged leads back into real-time opportunities:
1. Data cleansing and appending – Most aged mortgage leads end up in the trash because of bad data. Whether it is accidental or intentional, customers enter bad emails and phone numbers all the time. The good news is that the fix is often cheap and easy to fix–quickly bringing dead leads to life.
2. Email drip campaigns – Not everyone is cut-out to pound the phones trying to get unresponsive leads to take action. This is where a diligent email drip campaign can squeeze more out of your lead buy or monetize aged lead data you buy on the cheap. Simply build a progressive mortgage or refinance email campaign that builds up demand for the current low mortgage rates or special federal mortgage programs.
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3. Telemarketing and phone screening – Much like the email marketing strategy a simple campaign by phone can reawaken a Web lead/prospect to their original intent. What’s even better about this strategy is that it can be very affordable and done in large volume–personally or outsourced.
4. Direct mail campaign – Believe it or not direct mail can be a very powerful strategy for Web leads, especially aged leads. Often times Web consumers are easily confused by all the information and clutter on the Web. They submit a request for information or help and then they forget or aren’t sure where they were. Then the call comes and confuses them even more–making them non-responsive. This is where mail helps. A traditional, well done piece of mail can build the traditional comfort and trust to bring that prospect back to life.
5. Integrated lead management strategy – Any of these will give you (guaranteed) good results and a positive ROI on any aged mortgage lead buy. However, if you really want to pump up your business work on an integrated plan–probably using a lead management system–to blend the marketing approaches.
Take a look into your “dead pool.” Are there aged or discarded leads that might still have mortgage needs? Maybe their financial situation has changed and they have new refinance or mortgage needs? They might even be a great source for referrals and cross-sells.
You don’t have aged leads of your own or real-time mortgage leads don’t fit your budget? Contact Next Wave Marketing Strategies and try these strategies on a batch of our Aged Mortgage Leads.