In order to find a good bankruptcy list, you first need to find a good bankruptcy lead generation source.
This is easier said than done.
There are so many bankruptcy lead generation companies today, and nearly all of them are competing for your business, so finding the right one can be a bit of a hassle.
Unfortunately, it's very hard to get referrals on the best ones, either, because you can't just call up your competition and find out which ones they are going with, as they are very unlikely to tell you when they've found a hidden gem.
The best method, therefore, is to simply test 4 or 5 (or more) different sources until you've found the one wit the best return on investment for you.
Remember, response rate is not the most important number when it comes to your bankruptcy list, but ROI is.
I've covered this in extensive detail in other articles, but I'll say it one more time-finding a very responsive list is meaningless if you have to pay an arm and a allege to get them in the first place.
Often times, getting cheap leads (usually online and generated awhile ago) that are not very responsive, will still net the highest ROI simply because you are paying so little to get them.
Again, the only way to know this is to test out different lists.
With that said, however, it's generally best to try and find the best leads available (the most recent) because they will be the most responsive.
When you start out from this standpoint, then you can simply be assured that the leads are as responsive as you can get, and therefore your only job is to find the company that provides them at the most reasonable price possible.
When interviewing a lead generation company, be sure to ask them what methods they use to generate their leads.
Very simply, not all leads are created equal, even immediately generated ones.
For example, offline leads by and large are more profitable than online, for many different reasons.
For one thing, particularly if they responded to a magazine or newspaper ad, you know they were interested enough to stop what they were doing and either pick up the phone or go right to that companies website, showing a level of dedication somebody simply browsing the web probably wouldn't show.
Again, a general rule of thumb is that the best leads are the most recent and generated offline, but as I've said before, return on investment is the ultimate number you should be looking at, not just response rate form the leads themselves.
My best recommendation is to test at last 15 different bankruptcy list generation sources (all generated in different ways) and find out which one is best.
You might be surprised that older leads, or internet leads, might actually net you the best ROI even with a poorer response rate than better leads.
My best recommendation is to test at last 15 different bankruptcy list generation sources (all generated in different ways) and find out which one is best.
You might be surprised that older leads, or internet leads, might actually net you the best ROI even with a poorer response rate than better leads.