The debt business is booming.
That’s no surprise considering the number of people piling up huge debt from credit cards, mortgages, and other loans.
According to a June 2018 NerdWallet report on debt in America:
- American households have a total debt of $13.9 trillion
- The average household with credit card debt carries $15,482 in just credit card debt
- Mortgages, auto loans, and student loans are other top sources of debt ($181,176, $27,669, and $46,950 per household, respectively)
There are plenty of people out there looking for debt services to help them manage and overcome their sizable obligations through consolidation or settlement. Unfortunately, that doesn’t mean that debt lead generation is an easy process for the companies offering these services.
The debt relief business is extremely competitive. To maximize your lead generation potential, you’re going to have to make smart decisions about where you choose to invest — and choose NOT to invest — your marketing dollars.
Debt Lead Generation that Doesn’t Work
If you’re struggling to generate as many leads as you want, or to get good return on your investment in lead generation, it’s probably because you’re focusing too much on one of the following strategies.
Search Engine Advertising
Anyone that has doubts about the debt business being competitive should look at the cost of advertising in Google search results.
Most businesses can expect to pay around $5 to $15 per click from sales-friendly keyword searches on Google. If you’re a debt relief company, you can expect to pay $40 to $60 per click!
It’s competition from other debt companies driving up that price.
Here’s the other problem: getting more than 10% of those paid clicks to convert into sales is really hard. The average conversion rate for ads in this industry is only about 7%!
Let’s do the simple math. Even if you’re performing well above average at 10% conversion rate, it’s typically going to cost you $500 to acquire a new customer ($50 per click, multiplied by 10 because it will take 10 clicks to get a sale). You can do a lot better than that.
Most debt companies interested in advertising online get sticker shock looking at the costs of advertising in Google search results. They immediately turn to Facebook for a cheaper alternative.
What they find out quickly is that social advertising on networks like Facebook, LinkedIn, and Twitter is cheaper for a good reason: conversion rates are much lower.
At least the people searching keywords like “debt consolidation help” are actively looking for the service at that moment. That’s why companies are willing to pay so much for visibility at that moment. On social networks, yes you may be able to find people that fit the profile of your target audience, but getting them to take action is much harder.
Driving engagement that leads to sales through social advertising often requires an expensive investment in building a full marketing funnel (landing pages, lead magnet content, email marketing, and more). When you add it up, the cost of acquiring a new customer often ends up back in that range of $500.
Content Marketing for Debt Management Services
Content marketing as a lead generation solution for debt services has many of the same pitfalls as social media marketing. The costs look cheap upfront, but when you account for all of the additional investment it takes to turn blog traffic into
Do you want to have to manage a whole marketing funnel? Or would you rather simplify your debt lead generation and go back to running your business?
Debt Lead Generation that Works
There’s a lead gen solution that lets you spend much less time worrying about costs per click, landing page conversion rate, and about 10 other metrics.
Buying debt leads from a debt lead generation company like Elevated Perspective Marketing is your best bet for maximizing the growth of your business while avoiding getting bogged down in complex marketing strategies.
We sell leads with the highest conversion rates in the industry. In fact, we’re so confident that you’ll get results from our leads, we offer a money-back guarantee.
You can forget about paying $500 to $600 on average to acquire a new customer. You can spare yourself the time and frustration of managing a marketing funnel.
Buying exclusive, highly-qualified, ready-to-act leads is easier than you might think. Let us show you how easy it can be to get started.
Click on the “Chat Now” window below, send us a message online, or call us directly at 877-959-8044 to tell us about your lead generation goals!
If you’re looking for debt lead generation companies, check out an online directory listing some of the top debt relief and credit repair lead providers in America. We’re proud to be on the list!
Small business web directory by catagory and pages
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