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Why and Why Not Purchase Automotive Trigger Leads?

Posted on: February 21st, 2012 by credit

When a person is considering a car purchase,  he or she would pull out his or her credit report from a credit bureau.  The credit report is a major requirement for a car loan approval so that lenders will see if the loan applicant is qualified or not.  It is also the most crucial requirement because it contains the credit score which determines if the credit is good or bad.  The credit score tells the lender whether or not to approve the application and how much interest rate should be given to the borrower.

The credit inquiry done by either the borrower or a dealer or a lender results in auto trigger leads.  Credit bureaus can sell a borrower’s information, who just recently pulled out his or her credit, to car dealers thus, being termed as a trigger lead.

A trigger lead can be both beneficial and money-wasting to car dealers.  Car dealers can get auto trigger leads immediately—in an instant.  There is also a guarantee that these leads are fresh and recent because the leads’ credit inquiries happened within 24 hours.  Because of this, there is more time for car dealers to pursue these leads and turn them into sales.  Trigger leads are also affordable and are usually priced at the maximum of $1 each.

However, trigger leads may not be that effective in increasing the revenue of a car dealership.  They have a high rejection rate rather than high conversion rate.  Trigger leads are often inattentive to car dealers’ calls.  This is because they do not have an idea on how other car dealers got their information.  Take note that the borrowers did not apply in these car dealerships which are now trying to sell them their offers.  The borrower, then, may be puzzled and would not entertain the car dealer or sales representative.  Car dealers are also limited to some marketing strategies that they can only do to reach out to a trigger lead.  Most of the time, they can only do cold calling or telemarketing to close a deal.  Reaching trigger leads through email may not be possible at times because the email addresses are not usually provided.  On the other hand, contacting them through email may take longer before they get a response.

Buying trigger leads depend on the needs of a car dealership.  If a car dealership has an aggressive sales  team, they can be successful in stealing the lead and then close the deal.  Otherwise, they would just be wasting money for not successfully turning trigger leads into sales.  Moreover, if they also have an aggressive subprime team, they can make a rebound on the rejected leads and turn them into sales.  In general, the secret to getting auto leads say yes to a car dealer’s offer is having a quick and the right kind of response.

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