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Loan Market launches ‘on-demand’ lead service

by Reporter4 minute read
Loan Market

The aggregator has announced the launch of a lead-generation tool that promises to deliver on-demand lead prospects to brokers. 

Loan Market has unveiled its “Pay Per Lead” program, which uses targeted digital advertising tactics that aim to protect brokers’ workflows and client service standards, allowing brokers to receive their nominated volume of leads when it suits them.

According to Loan Market, the tool also enables brokers to scale their marketing spend by delivering lead-to-settlement conversion rates of up to 20 per cent and deals that are, on average, 11 per cent higher in size than equivalent offline leads. 

Brokers can also personalise their subscription to determine:

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  • the volume of leads they wish to receive each month;
  • the geographic radius they want to mine for leads; and
  • the days and times of the week they’re ready to act on leads to fit their process and lifestyle.

Loan Market chief marketing officer Lisa Phillips said Pay Per Lead helps address industry challenges, which include:

  • balancing prospecting with existing client commitments;
  • certainty around return on investment in digital marketing; and
  • scaling business through manageable, sustainable tactics.

“Pay Per Lead saves brokers time by allowing them to concentrate on current clients with the peace of mind that, on the day of their choosing, they can connect with new customers,” Ms Phillips said.

“Pay Per Lead is data-driven. When it suits the broker, they can act on the lead, utilising data that includes a verified client application, not just a name, number and email address.

“And it ensures every dollar a broker spends in their marketing budget is delivering outcomes.”

According to the aggregator, digital leads are qualified via the company’s customer fact-finding tools. The data – everything from the customers’ current debts and liabilities to earnings and future plans – is then uploaded to the broker’s functional MyCRM.

An SMS is then sent to the customer and broker at the time nominated by the broker – actioning the relationship.

Ms Phillips added: “Our research and testing has enabled us to give certainty to brokers for the conversion of digital advertising to leads.

“Whilst the customer may not be in a position to apply for a loan immediately, Pay Per Lead has established that critical relationship with a customer.”

She concluded: “Pay Per Lead builds a pipeline which – when coupled with Loan Market’s Client Nurture Program, an automated email sequence for customers who are not quite ready to proceed – continues to strengthen relationships for future business.”

[Related: Connective enhances expense verification process]

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