The secret to making debt leads work

By Justin Rees - Director of Marketing and Partnerships at LeadPoint UK

Debt management is big business and the internet is a great way of producing high quality leads. As the whole subject of debt can be extremely emotive for consumers, they often turn to the web when looking for advice as it is more anonymous than seeking more traditional forms of help.

While this means there are lots of consumers filling in lead forms, at the same time debt leads are notoriously difficult to convert with a large number of advisers reporting lower than expected conversion rates due to the high number of uncontactables.

It goes without saying that to maximise the chances of conversion, the best practice recommendations for processing real-time leads involve making contact with the consumer as quickly as possible after receiving that lead. However, debt leads do require a slightly more strategic and sensitive approach.

People having trouble paying their bills often feel guilty and embarrassed about their situation due to the stigmatism associated with debt which makes it harder to contact the consumers and means that a higher proportion of leads are generated in the evening when the consumer has had time to browse the internet in the privacy of their own home.

With this in mind, if you get into the office the following morning to find the lead waiting for you and immediately start trying to make contact in office hours, it’s unlikely that they will want to openly discuss their debt problems in front of a room full of their colleagues and consequently, will ignore your calls.

Don’t forget, the chances are that they are already being contacted regularly by their creditors and other firms pitching their product and are likely to be feeling the weight of debt on their shoulders, so the last thing they need is someone bombarding them with calls.

If you don’t get through the first time you call, try again when the consumer might be on their lunch break, or later in the evening when they are more likely to be in a position where they are able to talk openly about their financial situation.

In addition, if your lead provider offers you the facility to display your company profile to the consumer once they have submitted their information, make sure you have added all your details so that way when you call the consumer they are more likely to recognise the number and either pick up, or return your call at a more convenient time.

Finally, with debt leads in particular, telephone manner is essential. Remember you’re selling a service to a consumer who is probably feeling a fair amount of stress and anxiety so it’s unlikely to be an easy call. Unlike many other lead types, you might only get one chance when you do get through to the consumer so you need to make sure you make a good impression. The most successful lead buyers are those that forge good relationships with the consumers and have refined their sales technique to take this into account.

You can follow Justin on Twitter @leadpointuk.

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