|Tried and true principles to close more business|
3 Reasons You Need Internet Leads
• 75% of homebuyers begin their purchase process online. Internet leads intend to refinance or buy.
• Internet leads convert at a rate 3-10 times higher than traditional leads. Consumers who come on the internet to refinance or buy are comfortable online. Once they begin the process, the step-by-step procedure – along with your ultimate guidance - encourages them to follow through. This is one factor that makes internet leads the most cost-effective option for lenders.
• There is a 39% upward shift of marketing dollars into the internet. Major companies are greatly increasing their online marketing budgets. This is attracting even more consumers who intend to refinance or purchase online.
3 Things to Know to Close More Business
• 69% of lenders that become trusted advisors get the deal. Nurture a consumer by letting him know you’ll “walk the walk” with him. You become a trusted advisor to that consumer. If a consumer feels you’re there to provide a solution – not just make a pitch – he’ll want to talk when you call. You will close more sales.
• 73% do not have a process to requalify or revisit leads. 40%-68% of leads become qualified within 12 months. That’s after another lender has decided to stop calling. If you don’t have a system in place to periodically revisit leads, you’re losing a lot of business to lenders who stay in touch.
• 80% of sales close after the 5th contact. Many leads with intent are still not prepared to close immediately. Continue to provide sincere, quality guidance beyond the 5th contact. Your nurturing will be rewarded with more closings.
4 Steps to Effective Sales Performance
• Use a contact team. Your job is to close loans, not qualify leads or prep buyers. Work with a lead-generation partner company that performs paid search, pre-qualifies customers and provides real time leads. Your team member should be handling all non-closing details. Make the most efficient use of your time and you’ll close more loans.
• Have targeted scripts & procedures. Prospects relate best to lenders that focus on their specific needs. Consumers’ concerns breakdown into a few basic categories. Make sure your sales people are ready with the properly targeted responses once they identify a prospect’s concerns.
• Prospect positively. What seemed like a waste of time to you may be viewed by your lead as a valuable conversation. That’s why the next call could always be a closing. Act as if it is.
• Pay the right price. Is your price-per-lead cost effective based on your closing rate? A lead generator that provides pre-qualified, real time leads may be worth a slightly higher price-per-lead.
Make More Money
• Follow through. Always present a solution to the consumer. This applies whether it’s your first contact or your 6th.
• Increase your conversations per day. The more calls you make the more you present. The more you present the more you close. Stay focused, have more conversations per day, and more closings will follow.
• Never lose or kill a lead. Real time leads that are generated and pre-qualified online intend to refinance or purchase. Provide the most nurturing environment you can and indicate you’re available to address the consumer’s concerns. You will maximize profits.