Building Databank Lists for Cash Flow Marketing

3d illustration of a conceptual gauge with needle pointing the last stage of a sales process. Inbound marketing concept.
  • hold private mortgage notes
  • hold private business notes
  • receive monthly payments from a structured settlement
  • receive payments from a gaming award or similar annuity
  •  are heirs and waiting for an inheritance tied up in probate
  • are plaintiffs in a personal injury, wrongful death, or product liability lawsuit
  • seniors interested in cashing in an insurance policy

Managing Your Lists

As you build lists, you then must manage those lists and market to them with the intent of converting a suspect to a prospect.  This “conversion” occurs when they…

  • request a FREE report or booklet from your website
  • request a FREE no-obligation quote or proposal from your website
  • submit a “Contact Request” form from your website to set up an appointment
  • Call you using the information from your Contact Page on your website
  • Respond to a classified ad or direct mail letter

Managing “suspects” and “prospects is all about Contact Relationship Management and to do the job correctly, you absolutely must have a CRM or Contact Relationship Manager.  If you

are doing your research and direct marketing correctly and systematically, you will quickly find you have many hundreds or even thousands of suspect “leads”.  you absolutely cannot manage such numbers without a CRM System.  Because of its exceptionally low cost and quality, we highly recommend Pipedrive.  You can take Pipedrive for a FREE 15 day test run by simply requesting it from DataMax.  Simply send us an email with your name and email address.  In the Subject Box, type in Free “Pipedrive”.  We will send you a link within 24 hours to sign up for a FREE test of this remarkable CRM.

How Big Should Your Lists Be?

The questions is always asked about list size and “How big does my list need to be for me to be successful as a note / cash flow broker?”  The reality is, you should work to develop a compiled list of at least 500 “suspects” to market to and a number of 1,000 is even more reasonable.   From the 500 to 1,000, you should see roughly 5%-10% in your sales pipeline or in other words, roughly 5-10 percent have responded to your marketing efforts and have requested additionally information of some kind.  Of that 5-10%, perhaps 10 – 20 individuals may actively be seeking to sell their note, cash in an insurance policy, sell a structured settlement, or similar.

You will not be able to build such lists overnight.  It will take time and patience.  And you will absolutely need the help and marketing management capabilities of a CRM like Pipedrive.

Types of Lists You Will Work With (Pipedrive Example)

You will typically be creating and dealing with several types of lists as a Cash Flow / Note Broker

  • DATABANK LISTS:  These are lists you will purchase from a “list broker” or similar source.  Members of your Databank Lists are recorded into Contact Manager in Pipedrive.
  • COMPILED LISTS:  These lists are “targeted” lists of your own creation.  They will include the product of your courthouse research for recorded notes, scanning Craig’s List for owner financed real estate offers, FSBO offer ads from local newspapers, etc.  Compiled Lists or Target Lists are recorded in your Contact Manager in Pipedrive.
  • RESPONSE LISTS:  Response Lists are made up of those that have responded to a FREE offer on your website, classified ad, direct mailer, etc.  Your Response List is your Prospect List and members of this list are recorded as “Deals” in Pipedrive’s Sales Pipeline.  This is your most valuable list and it’s members are often just one phone call away from selling a note or cashing out a contract.
  • CLIENT LISTS:  Client list will contain the names of individuals having sold a note or a portion of a note, structured settlement, advance on a lawsuit, etc.  These are individuals who have the capability to come back a second, third, or even fourth time to sell additional amounts.  They are recorded in Contacts.

List Building:  A Major “Key” to Your Success

You should now be realizing that the time you devote to building lists of quality suspects is one of the true keys to your success as a note broker and that the job of list building never really stops.  Sales is truly a “numbers game” and the larger the number of quality suspects in your target lists, the larger the number of prospective clients reside there. You must simply build lists of suspects, market to those lists to uncover “leads”, and then prospect those leads to uncover clients.