Trigger Leads & How They Work
Business loan trigger leads are borrowers that had their credit pulled. For example, when a borrower wants a loan they submit a credit application. This application gives lenders permission to pull the borrowers credit. Moreover, companies like TransUnion, Equifax, and Experian provide consumer reports on credit. Next, these companies sell that data to lenders and brokers.
The issue with business loan trigger leads is that these borrowers may have applied for an auto loan, a mortgage, or a term loan. This is why a new home owner receives a large number of advertisements for mortgage loans. Business loan trigger leads are effective for car dealerships and mortgage companies. Conversely, in the Business Loan industry trigger leads are good for those brokers with multiple financing options. Furthermore, trigger leads are probably not enough to scale a business. In other words, you’ll need something to go with the trigger leads to have a comprehensive approach.
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Additionally, business loan trigger leads may be overqualified. For instance, let’s say a borrower applies for a bank loan and you get their info from a trigger lead. Consequently, the borrower tells you that they want a bank loan with low interest and monthly payments. Do you have a term loan program? If not, this lead is essentially dead.
Other Types of Business Loan Leads
There are several different types of Business Loan Leads in this industry. You can buy UCC leads. However, wit UCC leads the loan sizes are typically smaller as borrowers are over-leveraged. That being said, the borrowers already understand how a Business Loan works. Therefore, you won’t have an irate borrower when they find out they’re approved for a daily payment cash advance.
Similarly, you can buy bank turndown leads. Thus, they might not be desperate enough for a merchant cash advance. In either case, there are a lot of choices when it comes to business loan leads. Most importantly, the leads need to turn into loans closed!
Why Synergy Leads vs Trigger Leads?
Synergy was started in 2010 as an internet marketing company. We specialize in website design, SEO, SEM, and social media marketing. Additionally, we provide leads for the Business Loan and Business Lending industries.
Our customer service is impeccable. For example, we work with each individual client to tailor a solution just for them. Consequently, we have thousands of clients using our internet marketing services. Similarly, we have dozens of brokers taking our business loan leads. In fact, most of these brokers rebuy leads as soon as they run out!
The Business Loan industry is very exciting. People are getting into the business for the first time. By and large, people are leaving other jobs and starting their own broker business. Consequently, new brokers are popping up every single day. To sum it up, it is an oversaturated market. For this reason, we love the Business Loan industry because there is an unlimited supply of brokers that need our services. However, we know it cost far less to keep a client happy than to find a new client.
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There are other factors that make this industry attractive for us. For instance, businesses need funding very badly right now. Therefore, we have a ton of businesses looking for funding and plenty of brokers that need leads. It’s a perfect storm for us to be successful. In essence, we want to earn your business. Ultimately, we know that you’ll be happy and come back for more leads. We are not greedy. In fact, we have the lowest prices in the industry.
Our Motto is simple… if we help people get what they want then we should get what we want. We should all win! All in all, we just ask for 1% of your confidence and we will earn the other 99%!
Custom Strategies
Synergy has been managing marketing campaigns for many years. Some clients get business loan trigger leads to use for text messaging and email marketing. Alternatively, some clients get business loan trigger leads with appointments. Conversely, some clients prefer MCA live transfers. That being said, no two businesses are the same and that is why we develop CUSTOM strategies for lenders.
Synergy Makes It Easy
As a broker you are far too busy dealing with training, collecting paperwork, and chasing down borrowers to sign loan docs. For that reason, our business loan lead system is designed to make it easy so you can concentrate on your daily tasks. For example, we send aged business loan trigger leads and aged live transfers via email with an attached CSV file. If you order appointments or live transfers you will receive an email for each individual lead.
Pricing For Business Loan Leads?
- Basic Website – $499 & $49 / month
- SEO Website – $1,999 & $499 / month
- Social Media – $199 & $49 / month
- Google Adwords – $499 & $99 / month
- Aged Leads – 5 – 7 cents per record w/ no minimum order
- Hosted Predictive Dialer – $150 per seat / month
- Aged Live Transfers – $3-5 per lead w/ no minimum order
- Appointment Leads – $12.50-$20 each w/ no minimum order
- Live Transfers – $30-$40 per lead w/ no minimum order
- Virtual Agents – $12 per hour – 25 hour weekly minimum
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Qualifications For Business Loan Leads?
Synergy has minimum qualifications for business loan leads. Our leads must meet the following criteria in order to be qualified:
- 500+ FICO
- 6 Months + in Business
- Active Business & Active Bank Account
- $15,000+ Monthly Revenue
- Interested in Funding Now
- Serious Intent
- No BK, Defaults, or Judgements
What Do You Get With Each Business Loan Lead?
- Name
- Business Phone Number
- Cell Phone Number
- Fax Number
- Requested Amount
- Why do they want the funds?
- What state are they located in?
- What industry are they in?
- How many loans now?
- Balances of the loans they have now?
- Owner of the business? Must answer yes!
- How long have they been the owner?
- Need the money right away? Must answer yes!
- Deposit $15,000 or more per month? Must answer yes!
- Do they process credit cards?
- What is their credit score?
- Do they have any equity?
- Issues getting approved within the last 30 days?
- Best time for the lender or broker to call you back?
What If You Get A Bad Lead?
We understand that returns are going to happen. So we built in returns: You can return up to 25% of the leads if they do not meet the minimum qualifications:
- No longer interested
- Already funded & no need now
- No BK, judgement, or default
- $15,000 per month
- Contact name not matching phone number
- 500+ FICO
- 6 months+ in business
- Personal bank statement Statements
Our return policy is simple, if you have these issues we will replace a real time lead or live transfer. Just reply to the email you received for this lead and tell us why you are requesting a return. All of our calls are recorded so we will investigate on our end. A lead will be added to your total right away. The investigation is for our own internal purposes. You can return up to 25% of your total leads purchased with any order. Obviously this return policy is not valid for aged leads.
Aged Leads Good & Trigger Leads Bad?
Aged business loan leads are online form fills. This is when a borrower gets to a website and completes an online form. An email goes to the lender. Then a representative calls the borrower to pitch them and collect documents. Aged leads are also generated with email marketing. Emails are sent to our database of trigger leads, UCC leads, and our aged leads. The borrowers get the email and reply back. Some of the emails direct people to the online forms.
Does Synergy Sell Aged Business Loan Leads?
Aged leads can be a great alternative to UCC leads. Aged Business Loan Leads are best when you have a larger number of agents. Often you have an automatic dialer. With an auto dialer one agent can make hundreds of calls per day. Of course, business loan trigger leads are businesses that inquired about a business loan. They already understand why you are calling. This should make it easier to get a package submitted.
B2B Data
If your agents call using Info USA leads, Sales Genie data or the Yellowpages you can expect to get a lot of cold leads. Many owners wont want any money, won’t be interested, and won’t even take your call. You will find business loan trigger leads are much harder to close this way.
For example, if your typical agent works eight hours per day and makes forty calls per hour they can make 320 calls per day. Of the 320 calls they will probably get 1% that “might be” interested in taking a loan.
So, after pounding the phones all day your agent finds three people who “might be” interested. Here’s the issue, once the borrower sends in the bank statements and finds out it is a short term Business Loan they are “not going to be interested.” They wanted a bank loan at 3% interest.
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Conversely, with aged leads you can expect to make fewer calls and generate more business loan trigger leads per day. Let’s imagine that your agent still makes 320 calls using the auto dialer. Now rather than getting 1% interest you can get 5-10% interest. That same rep can generate 15-30 business loan leads with the same effort.
By the same token, the talk time will go up as the number of calls goes down. Nonetheless, you get the point here. Your agent be more productive and they will enjoy the job as they will be talking to people who want to talk to them.
Trigger leads Issue – The Close
Finally, once the borrower sends in their paperwork and gets an offer they won’t be shocked when they see a merchant cash advance offer! Aged business loan trigger leads can seriously increase your profitability. Compared to cold calling on strictly business data… business loan leads can take your company to another level!
Disclaimer: Business Loan Leads are not guaranteed to convert. Every company has their own agents who have different sales skills. Each company has their own follow up systems that may yield different results. Companies have their own lenders where they can obtain approvals. Synergy Direct Solution LLC can in no way guarantee conversions or sales.
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Want more info? Call us at 866-428-0172.
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Read Other Articles About Business Loan Leads:
Pre-Qualified Business Loan Leads
How to Generate Business Loan Leads
Business Loan Leads with Bank Statements
Business Loan Leads with Applications
Business Loan Leads Live Transfers
Business Loan Leads Free Trial