Loan Leads Company Introduces Lead Scoring Mechanism

Loan Leads Company Introduces Lead Scoring Mechanism



15th July 2008
Author: Danielle Fletcher
















One of the leading companies in the loan lead business has developed a predictive modelling service which will enable lead buyers to identify which loan leads are more likely to result in a customer taking out a loan. The company is known as ileads.com and its new modelling system is called LeadScore.

Together they aim to change the loan lead market by giving buyers the opportunity to find out which leads are likely to offer the greatest return on investment. The whole system is said to work in milliseconds and save both time and money.

The system works by using numerical data to predict the likelihood of an existing homeowner needing a new loan in the near future. Each lead is given an individual score, which indicates how successful the lead will be, in becoming an actual paying customer. Test runs using the program have shown that loans leads given a higher score by the program were four times more likely to result in a loan than leads with lower scores. Once a loan lead buyer has this information they can use it to determine in which order they will approach the leads to offer their products and services. These leads which have a higher score are more likely to need a loan soon and therefore loan lenders c

Tags: likelihood, time and money, score, return on investment, leading companies, loans, loan lenders, milliseconds

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