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Posts Tagged ‘trigger lead’

All About Dealership Trigger Leads

Posted on: March 22nd, 2012 by credit

Aside from the other types of auto leads, car dealers can also take advantage of dealership trigger leads.  Credit bureaus, and not lead generation companies like Approved Auto Leads, sell this type of leads to car dealers.  What is a dealership trigger lead?  When a borrower pulls out his or her credit from a credit bureau to run a credit check before purchasing a car, he or she becomes a trigger lead.  The credit bureaus could sell his or her information to car dealers.

Car dealers buy dealership trigger leads because these leads are guaranteed hot leads.  These are people who are not just deciding yet on whether or not to buy a car, but they are about to buy a car already.  Car dealers then would work on penetrating the leads’ preferences and get their attention trying to get them from the car dealers whom the leads applied to.  Trigger leads are also guaranteed fresh and recent as credit bureaus would only sell information of credit inquiries from the past 24 hours.  However, this kind of play may be considered by some as unethical.  Nonetheless, it shows how competitive the automotive industry is today.

Car dealers are only limited to telemarketing or cold calling when reaching out to dealership trigger leads.  Most of the time, the email address is not provided and it may take a while before they turn the lead into a sale.  However, there is a high chance of getting rejected with cold calling.  Because car buyers do not know the car dealer calling, they would not take the time to listen and entertain the offer.

Dealerhip trigger leads would not know if they have become trigger leads or not.  Most of them may not also be aware that this can happen to them.  A car dealer, who they have not contacted, would give them a phone call and try to sell them the offer that they have.  The lead would be shocked with the fact that other dealerships know their personal information which they have only given to the car dealership or lender they have applied to.

One possible thing that could happen after this scenario could be this:  The lead calls up the car dealership where he or she is interested in getting a car loan from and ask how other dealers were able to get his or her contact information despite their security and privacy policies.  This is after the car dealer who buys trigger leads cunningly told the lead that he or she is an affiliate of the car dealer the lead has contacted.

What car dealers could do is educate their prospective car buyers about this possibility.  They should explain that since the borrower has run a credit check, his or her credit information might be sold to other dealerships as well.  They should also make them understand that it is never their fault if other dealerships got their information.  Car dealers should do this so as not lose their potential customer.

 

An Overview on Trigger Leads

Posted on: March 6th, 2012 by credit

 

There are several types of auto leads that a leads generation company can sell such as the standard auto leads, special finance leads and trigger leads.  The latter comes from those borrowers who just recently pulled out their credit scores from the credit bureaus.  This action itself is the “trigger” for car dealers to take advantage of this opportunity to make a sale.  So what if someone has pulled out his or her credit report?  This means that these are people who are about to take a car loan and purchase a car.  Car dealers should remember that obtaining the credit report is the first step in taking car loans.  However, car dealers should be really quick in getting to these leads.  They should keep in mind that these leads did not contact them and they may have contacted other dealers with which they had preliminary negotiations already.  Thus, car dealers should really be skillful in reaching out them real quick.

There are several reasons why these leads are beneficial to car dealers.  One is trigger leads are fresh because lead generation companies would usually deliver such leads which are 24 hours old at most.  These leads are also cheap.  Moreover, if car dealers have competitive and better offers than the other options of the lead, it is almost a guarantee that the lead will purchase from them.  However, dealing with these leads also have risks and consequences.  Most of the time, car dealers can only cold call theses leads.  This is because lead generation companies usually only provide the telephone number of the lead.  There is no email address or any contact information provided.  Thus, the ways to reach them are limited.  Also, they are not exclusive for long, so car dealers would have to work on them the soonest time possible.  Another disadvantage is the lead’s reaction to the car dealer’s call.  The lead might be puzzled on how the car dealer got his or her information and may even turn down the call because it is unsolicited and unexpected.  Trigger leads may also have signed a contract or even purchased a vehicle already.  Hence, car dealers can never be sure about where these leads are in their car purchase.

Buying such leads could be stressful yet exciting.  Car dealers should just understand the risks and consequences of purchasing trigger leads.  These leads both have high conversion and rejection rate.  As was already mentioned, car dealers can close the deal if their offers are competitive.  On the other hand, these leads might not be interested in entertaining unsolicited sales call.

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.

How Prospective Auto Buyers Become Trigger Leads

Posted on: February 16th, 2012 by credit

 

Many auto dealers generate sales through trigger leads.  They make a profit by selling to people who are planning to buy a vehicle and have thus applied for auto financing.  However, most of these prospective borrowers have not approached any of the dealers themselves.  To understand how the auto dealers find their potential customers, one has to find out how prospective auto buyers become the aforementioned leads.

Prospective borrowers do not become trigger leads by choice.  The entire process occurs without their knowledge.  People who are about to buy a car or any other automobile usually apply for an auto loan to make the purchase.  Majority of auto buyers do not have the money to pay for the vehicle in full, so they seek financial assistance from lenders.  It is when the buyers apply for an auto loan that they become potential leads, and the credit bureaus are most responsible.

Whenever an individual submits an auto loan application, his or her credit report is pulled by the lender.  Lenders do this because they have to run credit checks to process the application.  They determine the borrower’s loan eligibility based on the credit report, which shows the individual’s history of repayment.  When an individual’s credit report is pulled by a lender, the credit bureau could enter the individual’s name and other details into the trigger lead database.  The borrower’s name and other personal information is that which becomes the trigger lead.  The credit bureau has the option to offer the information to third-party vendors, enabling them to sell the leads to interested parties such as other lenders and dealerships.  Approved Auto Leads is one online company that sells leads to its client auto dealers.  Once lenders and dealers obtain the leads from the vendors, they are free to pursue the individual and offer him or her a deal.

Since prospective auto buyers never know if and when they become trigger leads, being contacted by other lenders often catch them by surprise.  An individual who has applied for an auto loan at one particular lending institution can get a number of calls from different lenders and dealerships.  The borrowers are often puzzled as to how the companies found out that they were indeed in search of auto financing.

In some cases, being a trigger lead can be a bad thing.  Once lenders and dealers have the borrowers’ details, they are free to contact them.  Because some lenders or dealers are aggressive and persistent, borrowers tend to feel harassed.  However, being a trigger lead can be advantageous too.  It gives the prospective borrower more options in terms of auto financing, and he or she need not do anything. Borrowers need not search for offers because the offers would come directly to them.

What are Trigger leads? how can they improve your monthly sales?

Posted on: January 23rd, 2012 by credit

 

Trigger leads have been available to dealerships across the United States for about 8 years now. What is a trigger lead? Well simply put a Trigger lead is a lead that is generated from Credit Reporting agencies when someone gets a credit report ran at any dealership.

This has become a leading way for dealerships to have the ability to contact customers that might be shopping at the dealership next door. You now have the ability to contact that customer that has just had their credit pulled and present them with a more attractive offer. These customers are normally open minded to a better deal and with the proper system in place you can see 5% closing rate on these leads.  The average cost on a Trigger lead is less than $5.00 per lead and with that a dealer can expect to get all the required pre-printed forms and software needed to “print and stamp” their way to success. These leads do however require more attention and in most dealerships they have one person that is responsible for running this program.

With Trigger leads you can count on taking an additional 5% of your competors market, not to mention improving your monthly sales by 5% each month. Trigger leads are sold on a market exclusive basis only. Trigger leads are a great way to increase sales, move old age inventory, and increase your bottom line. Give Approved Auto leads a call for a free market evaluation of your market and what quantities of leads are available in your market.

 
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