Best Practices: Lead Buying

LeadsMarket has been at the forefront of regulatory compliance for many years, keeping its pulse on legal and regulatory issues from tribal to federal to state. Our proprietary software gives our lender-partners more opportunities for lead generating success. Our industry-leading compliance team, optimization experts, IT technicians, and creative marketing minds constantly work around the clock improving and refining operations to deliver maximum results.

When you work with LeadsMarket, you have a variety of tools at your disposal. The key to maximizing your success is knowing how to use these tools effectively. Here are four useful lead optimization tips that we’ve culled from over 200 lenders. These are simple steps you can take to optimize leads and increase revenue and profitability.

Fab 4 Lead Optimization Strategies

  1. Have Regular Calls
    When you buy leads, you should have weekly or bi-weekly calls with your lead provider to maximize performance. The more you communicate, the better we understand your goals and desired strategies. We may be able to advise you on a new technique or opportunity that you hadn’t previously considered. It also gives you a chance to tell us how we are performing. If we see issues, we can nip them in the bud. If traffic is doing well, we can generate more of it.
  2. Know and Share Your Data
    Making sure your campaigns are up to date and focused on attracting the type of consumers you’re looking for is key, but equally important is sending data back to your lead provider each week, so we can figure out which traffic channels work best for your needs. What works well for one lender might not work the same for you. That’s why disposition data (along with regular calls) are critical to strong, consistent performance.
  3. Regular Parameter Reviews
    Parameters (what some call “filters”) are one of the best ways to ensure you receive the specific traffic you are looking for. Parameters should not be carved in stone, and should be reviewed regularly. Revisit your income ranges, bank requirements, and traffic sources to make sure you aren’t missing any potential opportunities. Occasional adjustments are normal and often result in better performance. Resetting sources from time to time also ensures we are aligned with you.
  4. New campaigns
    Be open to trying new campaigns. For example, certain types of campaigns that perform well during the start of the new year might not be perform the same during the summer. New campaigns can help drive more traffic. We are always happy to set up new campaigns and monitor them with you. Some lenders found success with new campaigns outside of their regular hours. Others have changed pay frequency or income parameters. Some lenders have focused on returning customers. New campaigns can be controlled and tested, giving you excellent insights without a lot of risk.

Now What?

Following these simple tips can make all the difference when it comes to getting the most out of your lead buying. All it takes is a little time and attention to see a noticeable increase in performance. And if you’re curious about any specific strategy, contact LeadsMarket at lenderteam@leadsmarket.com. We’d be more than happy to offer some guidance.

Looking for More Training & Insights?

As a foremost U.S. consumer finance lead generator, LeadsMarket is proud to sponsor the LDF Holdings’ Barecomp 2019 Compliance Training in August 2019. LDF Holdings and LeadsMarket have teamed up to design a compliance training program that will keep attendees at the forefront of best practice for Tribal Lending Enterprises.

We will have more about Barecomp 2019 training in the August LDF Holdings newsletter. Between now and then, we look forward to meeting some of you in person at the LDF Holdings Summit in June and subsequently at the BareComp Compliance Event in August!