Many lenders have commented that the triggered auto loan leads are easiest to convert into sales and are the ones that are most preferred. Hearing this, many lenders are signing up with lead generation portals which can offer trigger leads. However, before receiving the leads, it is best to read what these leads are and what should be done with them:
For beginners, the triggered leads are the ones that include information about consumers who are out in the market and looking for an auto loan. Whenever a lending institution asks for a credit check on a particular applicant (or the consumer does a self credit check), the credit bureau see it as a trigger that the consumer is out there looking for a loan and send this information to the affiliated lead procuring portal. These forward the leads to the lending institution to convert them into sales.
The first thing lenders should know about these auto loan leads is that they are just provided for 72 hours. This means that if the portal transfers the leads via snail mail, then the conversion would already be done by the time the leads reach. Therefore, it is best to mention to the company that these leads should be sent via the fastest medium – text, fax or email. As aforementioned, the lender doesn’t have a lot of time to capitalize on the lead which makes it essential that the consumer is contacted via phone or any other fast method. In these cases, even emails should be avoided as one doesn’t know how long does the consumer waits to check new mails.
Tags: Auto Loan Leads