There is nothing more important to being effective with aged leads than persistence. Aged leads, by definition, are more challenging to convert (hence the great price). However, the persistence and doggedness that your competitors lacked can be you key to success.
Building a persistence machine
When you buy aged leads you should take a few extra minutes and plan your persistence campaign. This should be a combination of touch points: email, phone, and direct mail.
Know how you are going to sequence these touches and how often you think it is important. Then test your process and then improve it.
Importance of CRM
It goes without saying that if you are buying thousands of aged debt or mortgage leads you had better be using a good debt or mortgage CRM. The human fact is that you will waste a lot of money and opportunity if you are just trying to work through a spreadsheet.
- You will lose track of where you are
- You will lose or lack important notes
- You will mis-call, over call, or under call the leads
- You will be overwhelmed and frustrated
- You will quit
Don’t skip the CRM software. Even the cheapest and most inadequate system will beat a spreadsheet for conversion.
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Don’t forget the long-term value of these leads. People change, finances change, needs change-a “no” today could very easily be a “yes” tomorrow.
Create a lead nurturing program that continues to add value to these leads. Provide market updates, helpful debt or homeowner tips. Stay top of mind for each lead in your database.