October was an amazing month for our business loan lead generation.
We generated 420 business loan leads across 4 different industries:
4. Auto Repair
I don't have the exact number but I know there's but quite a few applications submitted and some loans that have closed.
But here's the important thing: the pipeline is jam packed with people who need funding or some type of business loan.
Sure, not every lead is ready or even qualified right then and there. But at some point they will be!
That's why follow up and having a variety of different services to offer people is a CRUCIAL part of this lead generation system.
You can generate all the leads in the world but if you can't help them, then what's the point?
Also, we found that many of the appointments that were generated had already received the funding they needed by the time we called them.
That means a couple of things:
1. Don't wait until the appointment time to call. Call them as soon as the lead comes in. Think of the funding appointment as just another "yes" or micro-commitment from the lead.
2. We're generating really good leads, just not getting to them fast enough. If the leads already received funding, that means they were a really good lead!
I also talk about the effect your daily budget and the number of ads you're running can have on your lead cost.
This has been a huge learning lesson for me with regards to bringing down lead costs.
So I'm excited to see where we can take this. A lot of the kinks have been worked out on the front end (bringing leads in).
The next stage is to fine tune the follow up, the services offered, and closing the loans.
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Also, if you're considering the Lending Lead Gen Academy, do it soon, because based on demand, I'll likely raise the price soon.