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Posts Tagged ‘trigger leads’

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.

Trigger Leads 101

Posted on: January 16th, 2012 by credit

 

Those in the automotive industry know all about trigger leads.  Car dealers rely on this kind of lead, among many others, to reach out to customers and make a sale.  Leads are customers, but many car buyers have no idea about this specific kind of lead or how car dealerships use them to generate revenue.  In fact, some car buyers are clueless as to how some car dealers find out about their plans to purchase a car.  They are simply surprised when they get a call from an auto dealer they have not contacted.

How do prospective car buyers become trigger leads? An individual who applies for a loan almost automatically becomes a trigger lead.  Most people who buy a vehicle pay for it with an auto loan as opposed to cash.  There are only a select few who can afford to make the purchase by paying for the car price in full.  Besides, making the purchase through auto financing gives the car buyer flexibility. 

When an individual plans to buy a vehicle, he or she would apply for an auto loan.  Anytime an individual applies for a loan, the lender would pull or obtain his or her credit report from the credit bureau.  Once a lender pulls a copy of a borrower’s credit report, the credit bureau would include the borrower and his or her personal details in the auto trigger databank.  The credit bureau may sell the information to a third-party vendor, which would then sell the information to car dealerships.  This is how a potential car buyer becomes a trigger lead.  It must be noted that it is not illegal for credit bureaus to sell a loan applicant’s details to third-party vendors. 

Many car buyers are caught off guard when they become trigger leads.  They never realize that by simply applying for an auto loan, they immediately become a prospect of several auto dealerships.  A particular car buyer would apply for auto financing from a specific auto dealership.  Then, he or she will suddenly be contacted by many other dealerships which are all offering a vehicle and hoping to close a deal with the borrower.  The car buyer may have never contacted or considered any of these dealerships, so the fact that they know all about him or her will definitely come as a shock.  It is only then that the borrower will realize that he or she has become a trigger lead.

Auto dealerships greatly benefit from trigger lead marketing.  While dealers have to pay for the trigger leads they purchase, they do not spend a considerable sum to reach potential customers.  With these leads, they easily find the people who can take vehicles off their lots and bring them profits.  These leads are best purchased from an online company such as Approved Auto Leads.  This lead generator has been around for more than a decade, and has been a reliable provider of auto leads for many car dealers.  Hence, any auto dealer hoping to find more customers should purchase leads from Approved Auto Leads.

Understanding How Marketing with Auto Trigger Leads Work

Posted on: January 10th, 2012 by credit

Trigger leads increase sales

 

An individual who is planning to buy a car or any other automobile would naturally shop around for the best deal, and he or she would visit or call auto dealerships to inquire about the vehicle prices and different rates regarding auto financing.  When the person applies for a loan, the dealership would pull out his or her credit report from the credit bureaus to determine his or her loan eligibility.  Sooner or later, the loan applicant will be contacted by another dealership or other dealerships which are different from the one that he or she applied to.  Why does this happen? This is because the prospective car buyer has become an auto trigger lead.

When prospective car buyers apply for a loan and his or her credit is pulled from the credit bureaus, they become auto trigger leads.  It is named as such because when a credit is pulled for the purpose of buying an automobile, the action triggers or results in a check or inquiry.  Once the credit is pulled, the person becomes an auto trigger lead and the credit bureaus include him or her in the auto trigger database.  The credit bureaus then sell the leads, or the information about the auto loan applicants, to third-party vendors.  The auto dealerships that purchase the auto trigger leads would then contact the prospective car buyers to offer them the vehicle they are interested in, hoping to close a deal with them.       

Auto trigger leads are advantageous for auto dealerships.  It saves them a lot of money when it comes to marketing.  Marketing with these leads proves to be cheaper than traditional advertising, and can be more effective in reaching customers.  Its effectiveness lies in the fact that the marketing strategy reaches the target market of the auto dealerships.  Because the leads have already applied for auto financing, dealers are certain that these people are really interested to purchase a vehicle.  There is no need for much persuasion; all the customers need to buy a car is the right offer from the right dealer.

It must be noted that if auto dealers want to optimize trigger lead marketing, they should contact the individuals immediately after they receive the leads.  It is necessary to contact the potential customer as soon as possible because the leads sold to one dealer can also be sold to several more.  There is high competition with these leads, and a dealer’s chances of sales conversion greatly depends on the speed of contact.  However, whether or not the lead will result in a sale is also based on the persistence of the dealer as well as the offer itself.

Car dealers that want to profit from trigger lead marketing can purchase auto trigger leads from Approved Auto Leads, a company that has been a top provider of auto leads in the industry for more than a decade.  With the quality leads that Approved Auto Leads sells, any car dealer would have a better chance at creating sales.

 
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