5 Ways to Tell If Your Student Loan Leads Are Worth the Money

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December 9, 2014 | By RGR Marketing Blog

What Else Do You Get With Your Student Loan Leads?

More and more, U.S. citizens are turning to higher education as a means of making themselves more viable in the job market and increasing their earnings potential. Of course, the benefits of going to college come at a cost. The most recent crop of graduates is the most indebted in history, and the cost of obtaining a college degree has ballooned in recent years.

For those who are able to secure high-paying jobs following graduation, the additional debt might not be as much of a burden. But many college graduates struggle with finding rewarding career paths that allow them to live well and pay off their debts without undue cash flow constraints.

As a result, as much as 15% of college graduates default on their student loans within three years of graduation. Others who are more determined to make good on their obligations must seek out help in the form of debt restructuring or consolidation programs.

What’s That Mean for the Student Loan Consolidation Business?

The bottom line is this: if you’re in the student loan consolidation business, there’s no shortage of customers out there looking for the type of services you offer. Of course, your business isn’t the only game in town, so to speak, and competition for clients is certainly fierce.

Purchasing student loan leads can be a very effective means of keeping your debt consolidation pipeline full of eager prospects. That being said, you have to make sure that you’re investing in high-quality leads if you want to maximize your ROI. So how can you tell if the leads you’re purchasing are worth the money?

Conversion Rates With Student Loan Consolidation Leads

Your strategy may include purchasing different grades and types of leads. Some of these may be shared leads, and some may be exclusive, and the price of said leads is bound to vary. And while it’s fair to expect the conversion rates to also vary depending on the price and quality of your leads, keeping track of your actual conversion success rates within each lead category is a smart idea.

All else equal, if you find that Company A’s leads convert with much more frequency than Company B’s, chances are good that the former’s lead generation strategies are a bit finer tuned and more effective, and you should alter your marketing budget allocations accordingly.

Client Care

When you purchase student debt leads from a lead generation company, the leads aren’t the only thing you’re buying. You’re also buying the service. If unexpected hiccups create problems in your lead generation system, then you want to be able to contact your lead generation partner and have them remedy the issue in short order.

As a general rule, if you have a difficult time getting your lead provider on the phone or to respond to emails when you’re trying to purchase leads, you’re bound to experience even more trouble when you need an issue resolved.

Provider Reputation

Good leads come from good providers; it’s as simple as that. If your lead generation partner has a stellar reputation among others in your industry and is highly rated by the BBB, then chances are good that the leads you’re purchasing are of high quality. Of course, the proof is always in the results.

Prospect Response

How do clients initially respond when contacted by your sales reps? Some are bound to be more enthusiastic than others, but if there’s a general trend of disinterest and hostility, you may want to consider the possibility that your lead generation provider hasn’t properly qualified those leads, or that they’ve sold them to far too many marketers.

Lead Freshness

Now, there are times when pursuing so-called “dead” leads can pay off, and trying to turn old leads into new business is a far better use of your sales team’s time than sitting around and watching cat videos on the Internet. But even with that scenario, you still want to make sure you’re getting what you pay for. If you’re being sold “hot” leads that turn out to be frosty, then you may want to start looking for a new lead generation partner.

[Photo Credit: Newslab]

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What Else Do You Get With Your Student Loan Leads?

What’s That Mean for the Student Loan Consolidation Business?

Conversion Rates With Student Loan Consolidation Leads

Client Care

Provider Reputation

Prospect Response

Lead Freshness

Start making more
money today!

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What Else Do You Get With Your Student Loan Leads?

What’s That Mean for the Student Loan Consolidation Business?

Conversion Rates With Student Loan Consolidation Leads

Client Care

Provider Reputation

Prospect Response

Lead Freshness

Start making more money today!

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