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Trigger Leads are Advantage, But Not All the Time

Posted on: June 26th, 2012 by credit

Trigger finance leads are information of people who have pulled out their credit reports from credit bureaus for the purpose of applying for a car loan. The very act of pulling out the credit report makes a person a trigger lead. Credit bureaus sell these leads to lenders and dealers but with only limited information. Typically, credit bureaus only provide the applicant’s name, telephone number, address, and some information relevant to the lender’s or dealer’s criteria.

If you noticed, only the telephone number of the applicant is provided by credit bureaus. They do not provide the mobile number and email address of the person. This what makes closing trigger leads highly competitive, but at the same time exciting. Your sales staffs would not have any other choice to reach the leads but to call them up—immediately. Otherwise, your competitors will get to them first. Your sales team, therefore, must be aggressive enough to get the attention of your trigger finance leads. If they get this right, you have a sure sale. However, trigger leads could also be nuisances in another perspective.

Remember that you’re not the only dealership who knows about trigger leads. Apparently, your competitors know about them too and they could be more aggressive than you are. The problem is when they try to get in the way while you try to convert your hard-earned leads into a sales. Think of this scenario: You are wondering why a prospect who has just called you and was so interested in your offer suddenly never called again. You would then find out that a competitor reached out to your prospect as they found out that he just pulled out his credit report. That would be devastating. So, how are you going to stop loosing your leads to your competitors who have become like almost experts in closing trigger leads?

One, talk to your leads upfront. Respond immediately after they have sent their query in. Warn them about other dealerships who might call them up and try to convince them to get their offers. In many cases, people blame lenders and dealers for giving out their information to other companies whom they haven’t talked to. You should avoid this from happening to you by informing your leads about such dealers and telling them not to entertain them.

Two, keep them interested even at your first contact with them. It is not that easy to do but you have to work toward making them satisfied with your offers that they would not want to consider other options. Lastly, be aggressive in closing your finance leads. Always keep in mind the various types of competitors you have around you. Train your sales department to be competitive in this area.

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