In an industry full of fly by night companies here’s a guide to help you stay in business.
- Make sure your sales are as strong as possible. Call the top dogs to see how they pitch. Use successful sales scripts.
- Purchase at least (500-1,000) leads to properly gauge performance.
- Bear in mind that most deals often close weeks later.
- Always view lead performance reports from the date your campaign started to properly analyze. Not just the current week or month.
- Take as many leads as you can handle. The more you process the more money you’ll make.
- The leading brokers in the industry run 24/7, and so should you. Statistics show some of the best leads come thru in the evenings and on weekends. It’s simple… there’s less brokers competing for them during those hours. Furthermore the average joe works 9-5 M-F, so it makes sense to contact them when they are off work.
How to Fail
Everyone thinks they’re a winner. The odds are already stacked against you along with the age old fact that 80% of businesses in general fail. So don’t make it worse. Companies engaging in the following practices are often forced to close their doors within 3 months or less.
- Burn customers. In no time you’ll rack up bad reviews which will surely hurt your business. A Google search of your company’s name with results full of bad reviews is a tell-tale sign you’re going out of business if you haven’t already. Lose your Merchant Account… GAME OVER!
- Burn truckers. Great way to earn bad ratings on Central, or worse, earn a claim against your bond. Lose your bond, and you’ll get kicked off of Central. GAME OVER!
- Burn lead providers. There’s only a handful of lead providers, and word spreads quickly. You’ll be breathing through a straw when no one will sell leads to you. GAME OVER!
- Purchase 250 cheap leads or less, then complain about the quality of “cheap leads” right away without allowing ample time (weeks/months) for deals to close. Short term rookie mistake right there. You’ll get squashed like the cockroach you are by the competition. Closing deals often happens in waves. 250 leads or less doesn’t give you the chance to catch that wave of success.
- Wait until snowbird season to buy leads This is without question the most competitive time of year. Inexperienced brokers get crushed like the cockroaches they are. Furthermore there aren’t more leads to go around. In fact, there’s significantly less people moving there cars, but there’s a flood of brokers competing for their business. This causes widespread lead shortages. Lead providers are often sold out. So secure your lead spots before September, and plan on holding them thru April.
- Use e-mail instead of a CRM CRM’s can be pricey but the numbers don’t lie. Statistics show that brokers who use e-mail to manage their leads don’t last very long. See our list of auto transport crm providers
Most lead providers don’t accept credit cards. This is due to the high risk of credit card fraud/abuse within the industry.
Sure, there’s a handful of lead providers foolish enough to accept credit cards from brokers. Feel free to charge back on each and every charge with them regardless if the cheap leads you purchased were good or bad. Why be held accountable for your lack of sales skills, or any of the countless other variables on your end, right? Wrong. Lead providers will quickly let other lead providers know, and then no one will sell you leads.
What to Look Out For
- Any lead provider that badmouths another lead provider. This is a huge red flag.
- Beware of lead providers that own and operate brokerages, and resell you their used leads. Again, read the reviews to find out who you are doing business with.
You can please some of the people some of the time… at the same time… not everyone is a winner.