Whether you are cold calling or following up with past loan modification leads, one of the main keys to your success is having a great sales script. Even those who have been in the mortgage industry for years can find this a daunting task, but there are a few things that anyone can employ to ensure that their call script will get the desired response.

Each call script needs to focus on specific attributes for it to be a success. Here’s what you need to know to write your own, or to modify a script that may not be working as well as it should.

Sales Script

1.    Benefits Are the Main Focus. In copywriting, this is referred to as WIIFM, or What’s in it For Me? This is the main focus on your sales script and these benefits need to be made clear. You should lead off with a benefit, and then follow it with the immediate solution that will help the consumer achieve that benefit.

For example, if your mortgage business is assisting consumers in getting a refinance from their bank, and your leads are nearing foreclosure, the obvious benefit would be to stop that foreclosure from happening, and then segue into how you are going to make that happen for them.

2.    Modify Your Script to Suit the Lead. You can’t have just one sales script, particularly if your business helps a variety of different consumers. Each one will need to have the benefits and approach honed for that unique situation. Although this does require extra work, building custom sales scripts will help you reach your goals.

You can use a main script that will have the elements necessary, and then take that one and modify it slightly for each branch of your business.

Telemarketing is a necessary evil for many businesses and if you don’t have the right sales script, getting to yes on the phone can seem like an exercise in futility. You’ve already got one strike against you in that most people do not like to be approached on the phone, but you’ve also got something more powerful in your corner – the ability to help a consumer.

By focusing on this ability and working hard to make this the initial part of your pitch, you can easily start to see an increase in the amount of new clients, even if you are cold calling. Whether you are an experienced pitcher, or you are just starting out, here are some tips to help you get that yes in less time and with more regularity.

Focus on Their Needs

If you’re in the loan modification business, mortgage industry or debt reduction business, it is necessary to put yourself in your lead’s shoes. They’re going to be feeling some shame about their situation and they may be feeling a bit desperate. Depending on how bad their individual situation is, they may be desperate for a hand up.

In this industry, you’ve got another caller that will help you reach your goals a lot quicker – collections companies. Chances are your leads are already besieged with these calls and they want to make them stop – and this is where you come in.

By focusing on what each lead needs, you’ll be able to forge not only a client/business relationship but also a relationship based on trust and assistance. Too many companies look at their leads as just names on a sheet rather than people who are in a difficult circumstance. If you can put yourself in their shoes, that is going to resonate with them – and they’re going to want to hear what you have to say.

The mortgage leads industry is a profitable one, particularly for those who have available leads to sell, but often the question comes up – what lead generation techniques are used? For those who may not want to purchase their leads, learning these techniques can be very beneficial. While it is always easier to simply buy leads that are already to go, taking the time to build up a targeted lead database through online marketing can be even more powerful.

Lead Generation: Online

Let’s take a look at a few of the basic ways that lead generation takes place online.

1.    Opt-in Lists. This is a proven way of generating targeted leads online but it can be misused. The key here is to provide consumers with something of value that is related to the service you offer, and to collect their email addresses before giving it to them. You have the benefit of knowing that they are interested in what you have to offer, and they win as well thanks to your information.

Opt-in lists should also be permission based to ensure quality. This means that you will need to have your lead click a link after their initial sign up to confirm that they want to join your list. This one extra step will help you build a powerful list that is full of people who are ready for what you have to offer.

2.    Social Networking. This is a new way of generating mortgage leads, and it’s turning out to be quite effective. This is relationship based online marketing and when used correctly, you can build not only a database of leads, but a strong relationship with your future clients.

Even though the current mortgage market is going through convulsions, that doesn’t mean that your business has to suffer. Whether you are a broker, or a loan modification company, aged mortgage leads are an incredibly effective way of reaching out to new customers. Here are just a few of the benefits that these types of mortgage leads have to offer.

Mortgage Leads: Benefits

1.    Home Buyers are desperate. For those who want to take advantage of plummeting housing prices, this would appear to be an ideal time to buy a new home, but many local banks are just unwilling to lend at this time. This has led to a supply and demand problem and buyers are desperate to find someone who will be able to help them. Aged mortgage leads that focus on potential buyers can be a goldmine for brokers right now.

2.    Home owners are even more desperate. The credit crunch is hitting all of us, but it’s hitting home owners even harder. Chances are, if they signed up for mortgage help three years ago, they will need it even more right now. Loan modification companies that turn this to their advantage quite easily by offering home owners the hand up that they so desperately need right now.

3.    Targeted leads are always useful. No matter how old they may be, there is no substitute for targeted leads, particularly in the mortgage market. Even if the lead managed to find a mortgage a few years ago, the chances are high that they are now struggling with that loan and need assistance. Once again, we have a gold mine for loan modification companies.

Aged debt leads can be a powerful tool for some companies, particularly if they are managed correctly. It may be an uphill battle, but typically, it’s well worth the time spent in cultivation. Whether you have old leads you’re working through again, or you received aged debt leads, there are a few tips that will make the process much easier.

1.    Cold Calling. One of the first steps to working your aged leads is to get on the phones and start getting in touch with them. Use a CRM program to make the process easier, and track the kind of response rate you are getting. With debt leads, the good news is, most people will still be in debt, even if the lead is quite old.

You can use this to your advantage, particularly in the case of consumers that are having trouble making ends meet in this economy.

2.    Pipeline Management. The second key is effective pipeline management. This will help your entire organization, but it is most effective in sales. Consider hiring someone to manage your pipeline for you to free up your time and help everything run smoothly. Set up a prioritization system to help you work through the aged leads and keep track of new clientele.

Work with your sales team to build a pipeline that will help you move quickly, and make follow ups easier.

3.    Lead Management. We touched on this briefly above, but you really cannot over manage your leads. Any business needs to be organized, but it will benefit a debt management company tenfold to have their leads categorized and prioritized. If you are relying on an old database to manage your leads, consider upgrading to a CRM software package.

If you are relying on telemarketing to increase your company’s sales and you’re not pleased with the results, there are many different techniques that can be used to increase the contact rates and improve overall sales. Although this is not an easy marketing method, it is still considered to be one of the most effective. Cold calling is difficult, but with the right methods, you can see some amazing results.

Let’s go over a few sales tips that will help your company start to realize these benefits immediately.

Right now, even though the news about the housing market may seem to be all bad, there are numerous opportunities to make your mark, particularly if you are in the loan modification business. Homeowners are desperate for assistance and government programs aren’t reaching all of those that are in need.

This translates into enormous potential for those that are willing to work load modification leads and have the ability to offer consumers the support and help they so desperately need right now. If you are considering purchasing loan modification leads, there has literally never been a better time to do so.

For those who are unfamiliar with how this process works, let’s go over the basics of a loan modification sale.

Loan Modification Sale Process

Step 1 – Contact the homeowner in need. The first step is to find likely loan modification leads, typically in your own area. However, there are large portions of the country that are in dire need of this service, so you may want to broaden your horizons. Once you have your leads in place, begin by contacting the homeowners directly.

Step 2 – Focus on stopping a foreclosure. No consumer wants to have the stigma of a foreclosure on their credit history if they can avoid it and that means that they are going to be willing to listen to what you have to say. Focus on the benefits that they are going to reap by going through a short sale and shape your pitch around their needs, not what is in it for you.

Step 3 – How loan modification works. A short sale or loan modification sale works by either selling off the property for an amount that the bank agrees upon, or by actually negotiating a change in the loan and rewriting it. This solution is actually beneficial for all of the parties involved and most banks are more than willing to work out a deal.

Social media marketing has taken the marketing world by storm and as a result, many companies are flooding in trying to take advantage of it. However, there are specific pitfalls that you will need to avoid if you want to use this powerful form of marketing for your company.

Let’s focus on the top three forms of social media marketing, including Twitter, Facebook and Blogs.

Twitter

Twitter is a new service that allows you to collect followers and follow interesting people. The basic purpose of the service was to keep friends apprised of your daily activities, but it has morphed into a very powerful marketing tool. By seeking out targeted followers, and sending them periodic messages, you can build your brand and market your products or services effectively.

Before jumping into Twitter with both feet, it is a good idea to watch how other companies are utilizing the service. While it is tempting to want to get your message out as often as possible, it is best to follow a simple rule of thumb – for every one post you make that is marketing your product, you should make two that are non-related.

This helps build up a level of trust with your followers and they will know you are not trying to spam them. Marketing is allowed on Twitter, but it is frowned upon if it is too aggressive.

Facebook

Facebook operates much the same way as Twitter, only you have some extra features. This is an ideal place for networking and you can build a very large and targeted audience with some time and a little patience. Thousands of companies are using Facebook on a daily basis to help cement their brands with the public and it is also very effective for product promotion.

Again, you will want to avoid hard selling when you are using social media marketing. Subtlety is the key and taking the time to build up actual relationships instead of trying to sell to everyone you come into contact with.

Image via CrunchBase

Social media has been the talk of the town for sometime now. Yet, most of the conversations and discussions concluded that social tools like Twitter, Facebook, and the like were generally time wasters. A few people argued that they were generating sales leads, but the real data was sketchy at best.

Twitter Search

Twitter search has real promise in making Twitter very significant to the lead generation community. Traditional search, specifically from Google, has been the centerpiece of many successful marketing campaigns. Now the opportunity to give customers real-time search? This will be a significant attraction for consumers.

Real-time Twitter search provides the appeal of someone that is online, currently discussing your question, and immediately ready to help. This has been the Achilles heel of Internet lead generation--nearly 60 percent of Web inquiries never get contacted. Twitter search fixes that problem by showing you who is publishing right now.

People Want Real-Time Search

Steve Rubel, of Micro Persuasion, in his blog post Visits to Twitter Search Soar, Indicating Social Search Has Arrived shows use the enormous ramping of Twitter search traffic. Rubel argues that Twitter has reached such a scale that it could soon give Google a run for its money.

There is no question that people want real-time search. And although it may not be the primary search destination in the short-term it will be significant in traffic and relevance to lead generation. Consumers will seek out expertise and trusted sources for mortgages, debt recovery, the best colleges, and the right software solution--all scenarios where searching real-time conversations will yield better search results.

Therefore, Twitter and the search component of those conversation will be, should be and important strategy of any lead generation strategy.

Twitter Has to Get it Right

Twitter search is certainly not perfect yet. To be fair, it took some time for Google to knock the old directory paradigm of Yahoo! and AltaVista off the pedestal too. I think the main challenge that needs to be overcome is the ease with which Twitter search can be manipulated.

Twitter search also lacks any sort of relevance or reputation algorithm. This means that any search is going to return a lot of spam or irrelevant content. This is still a constant battle of Google, but seems to be even more ominous when you are fighting real-time results.

However, for all its warts Twitter search is important and it will evolve into an important space for online marketing and lead generation.

• Social Search: Nay Sayers Eat Twitter Pie (arnoldit.com)
• "Search Is A Pencil" (battellemedia.com)
• Ignoring Twitter, Hazardous to Google Blog Search Traffic (arnoldit.com)

Image by DavidErickson via Flickr

Lead buying can be an intimidating endeavor at first, but with some simple guidance your success can be swift. This is the objective of LeadBuying.com.

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