Online Lead Generation-How to Convert Like LendingTree
I have bought a lot of LendingTree leads over the years. I currently own a CRM software company that is a LendingTree preferred lead management provider.
I know LendingTree leads.
I am about to give away the secret to why LendingTree consistently produces some of the best converting leads on the market.
LendingTree has been the soul practitioner of this secret too long. We owe it to the rest of the online lead generation market and more importantly online consumers to reveal the secret.
If you currently generate leads or want to generate leads for any product or service and want to convert like LendingTree–Be Fanatical About the Customer!
There you have it. Okay, maybe I won’t get an angry call from Doug Lebda reprimanding me for letting the cat out of the bag. It isn’t really that big of a secret, but it is a rare focus in the online lead generation market–whether you are talking about a large lead provider or the smallest affiliate marketer.
Let’s walk through a 6 point checklist to make your lead generation better, if you are a seller or to find a better lead partner, if you are a buyer.
1. Holding the network accountable: Consumers are more responsive when they are treated with respect and their requests are treated with a sense of urgency.
That means every lead that is generated is called–even if it is not sold into the lender network. If it does go into the lender network it absolutely must have an immediate contact.
Compromising network accountability to the consumer with directly impact the quantity and quality of your lead generation operation.
2. Training network to be customer focused: This is almost a silly statement. However, as we emerge from several years of plentiful leads and free credit we have forgotten the value of customer service.
Customers are not commodities. They are precious assets to the current and future growth of our business–whatever the product or service. Treated properly they will build strong recurring revenue annuity and you will return a valued service they will be loyal to and refer to others.
3. Setting clear expectations with customer: No one likes to be surprised, especially online where there is a bit of skepticism anyway. Lead generation companies need to be in step with lenders and lenders need to understand what their lead partners are presenting to consumers.
Lead partners are acting as outsourced marketing departments. If you want their leads to perform as well as your own personal marketing would work–connect the dots. Make the experience as seamless as possible to the customer.
4. Providing alternatives to customers: In a market with few options and lots of questions, consumers relish choice.
Train your sales force to offer education and alternatives to the customer. You can even expand your financial services offering by using cross-sell and referral marketplaces like ManyUp.
5. Be responsive: You might notice that this theme runs through several of the 6-point checklist. That is significant. Lead generation and lead conversion is dependent upon a sense of urgency to the customer.
If you want the best leads, buy from a lead partner that forces accountability to the customer. If you want to build a great lead generation platform, force accountability on your network.
6. Follow through: Many of these principles of great lead generation and excellent lead partners need analysis and feedback loops. Following through on leads and understanding how the story ends is the best way to improve quality and conversion. Maximize the good and minimize the worst practices.
As marketing budgets tighten getting the best from your lead partners and lending network is going to be critical. Implement this simple 6 step plan and raise your lead conversion.


