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Posts Tagged ‘trigger leads’

Truths About Trigger Leads

Posted on: September 21st, 2012 by credit

What are auto trigger leads? These are information of people seeking financing for a car purchase. Some credit bureaus sell them to dealers like you. This act is not illegal but there are some drawbacks of resorting to trigger leads to boost your dealership’s sales.

One, many prospects hate cold calls and you have no other way to contact them but through giving them a call. Why? Although credit bureaus are permitted to sell consumer credit information, they can also give limited information. In most cases, a trigger lead is sold with just the complete name, address, and contact number of the person. The email address is often not included. Thus, cold calling the leads is your only way to reach out to them. However, as has been pointed out, prospects do not like receiving random sales or promotional calls. Moreover, they might get furious about the fact that you were able to contact them without them giving their information to you first. As a possible effect, your lead generation and conversion processes might get ruined. It could also smear your dealership’s reputation.

Two, responding to trigger leads require aggressiveness and speed which your salespeople should have. Since these leads come from credit bureaus—from people who have inquired about their credit rating—these people most probably have started shopping for cars and financing already. Thus, the goal is to get to them first. Upon receiving the leads, your salespeople should be proactive in dialing the numbers immediately, determined to get the sale.

Three, you can lose your customers to trigger leads. Consider the point discussed in the preceding paragraph. If you are buying trigger auto leads, you need to be aggressive in order to get to the lead first and close the sale. Looking at it in a different perspective, whether or not you are buying trigger auto leads, you can be a victim of those who do. They buy information of people who recently pulled out a copy of their credit report and cold call them as soon and as quickly as possible. If you are not aware that such competitors exist and you have a poor response time, you will definitely lose your soon-to-be customers to those trigger-lead-buying dealerships.

Interestingly, the reason why some dealers still buy these leads despite the drawbacks is because these leads are definitely fresh and the people behind them are genuinely interested car shoppers. In a general sense, convincing them to take your offer is easier. They want to buy a car; they are looking for financing opportunities; and you get to them with a nice offer that they also like. That definitely makes the sale. It works this way for some dealers and that’s why they keep on buying.

However, deciding to buy trigger auto leads depends heavily on your priorities in your dealership. Is reputation more important than acquiring fresh and quality leads? Should creating more sales be pushed through despite prospects at the other end of the line yelling at you? Weigh the pros and cons heavily and make an informed decision. Do not be convinced solely by success stories. What worked well with others might not always work the same with you. But do not get easily discouraged. It also pays to explore and experiment on various strategies.

Understanding and Using Trigger Leads

Posted on: April 13th, 2012 by credit

Car buyers become trigger leads once they pull out their credit reports from the credit bureaus. Car dealers can buy these leads from banks, credit unions or lead generation companies like Approved Auto Leads. Why do they still have to buy trigger leads aside from the other car leads? How do these help them increase their sales? When a car buyer pulls out his or her credit report, it means that he or she is already in the process of buying a car. It also implies that he or she is an interested car buyer and a sure prospect for car dealers. Such car buyer is indeed a hot lead.

Trigger leads are also fresh as lead generation companies would only collect those that have made transactions with credit bureaus within 24 hours. Since these leads are already interested car buyers, they have high conversion rate; they are more likely to be converted into sales. This is in contrary with other car leads that are not all guaranteed to be hot leads.

However, these leads also have high possibility of rejection. It is because car dealers can always come across leads that have bought a car already or would simply not entertain other calls. If a car dealer is too late, he or she does not have any chance anymore to turn the lead into a sale because a purchase has already been made. Moreover, some leads would not entertain any calls or sales talks from anyone other than the ones they have contacted. Trigger leads also usually wonder how other dealerships got their information and would opt not to entertain the call for safety reasons. Others sometimes even get mad at lenders, blaming them for spilling out their information without their permission. Car dealers then should be really quick in contacting the leads to successfully make sales out of them.

Other than being fast, car dealers should also practice right and skillful sales techniques in handling such leads. They should call them immediately upon receipt. Car dealers should remember that the leads are already in the process of buying a car. Any later response would cost them potential customers especially that they can already decide anytime sooner. Car dealers should also be good in convincing the prospects to at least consider their offers. Trigger car leads can only be cold called most of the time as lead generation companies do not usually provide other contact details than the phone numbers. Lastly, car dealers must have an aggressive sales department to successfully turn trigger car leads into sales.

 

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.

 
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