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What are the minimum order quantities for each product/service?
Data - 5,000 records
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How do I know which Data Warehouse leads and services are the best for my needs?
Our Direct Marketing Consultants will discuss the specifics of the loan products you offer to help identify your best prospective customers and recommend the prospect
database that best fits your needs. Usually, our pre-screened credit process, DataPlusSM is used for the list selection. Necessary adjustments to your program can be easily determined and implemented.
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How quickly will I receive my leads?
Once your payment is received, non-credit data will usually be delivered within 24 hours.
It may be a little longer depending on your order variables. DataPlusSM credit data usually takes four to seven business days for your first order once all completed paperwork has been submitted. Subsequent orders usually take two to four days.
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Is it more effective to implement a direct mail or telemarketing campaign to generate leads?
Both telemarketing and direct mail are important channels to generate business. Some consumers are more responsive to phone solicitations and may not read mail solicitations. Others will never listen to a telemarketer, but do read through the mailed advertisements. Clients that achieve the greatest success conduct a two-pronged approach to lead generation using an integrated program of direct mail and telemarketing.
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What's the difference between revolving and installment debt?
Revolving debt requires specified minimum payments plus a service
charge on the balance. As the balance declines, the amount of the
service charge, or interest, also declines. As principal is paid,
it becomes available again. With installment debt, the amount of
the payment and the number of payments are predetermined and fixed.
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What are the compliance requirements of direct mail and telemarketing?
Federal Laws enforced by various agencies of the federal government
including the Federal Trade Commission and the Federal Communications
Commission, contain numerous compliance guidelines and requirements
which must be observed by telemarketers and other related service
providers. In addition, various states and the District of Columbia
have direct mail and/or telemarketing requirements. Information
on our website is not intended as legal advice and to ensure your
firm is in compliance with current federal and state laws, please
consult your own independent legal counsel.
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What "Do Not Call" lists do you scrub against?
As a courtesy, we regularly scrub all Data Warehouse data against
the Direct Marketing Association’s “Do Not Call”
and “Do Not Mail” preference lists as well as state
and national “Do Not Solicit” lists (with the exception
of the following states: Louisiana and Mississippi) to help you avoid paying for names that will be deleted
during your own required internal suppression activity.
All companies are required to keep a company specific “Do
Not Call list”. If while telemarketing, a consumer asks to
be placed on the company specific “Do Not Call” list,
the consumer’s phone number must be included on the company
specific Do Not Call list for at least 5 years. You are required
to get the consumer’s information added to the list within thirty
(30) days. Please note: If a consumer asks to be placed on your company specific "Do Not Call" list, you may NOT make a sales call to them even if you have an existing business relationship with them.
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The following definitions were taken from the following website: http://www.ftc.gov/os/statutes/fcra.htm
* Firm Offer of Credit:The term "firm
offer of credit or insurance" means any offer of credit or
insurance to a consumer that will be honored if the consumer is
determined, based on information in a consumer report on the consumer,
to meet the pre-selected criteria used to select the consumer for
the offer, except that the offer may be further conditioned on one
or more of the following:
(1) The consumer being determined, based on information in the consumer's
application for the credit or insurance, to meet specific criteria
bearing on credit worthiness or insurability, as applicable, that
are established,
(A) before selection of the consumer for the offer; and
(B) for the purpose of determining whether to extend credit or insurance
pursuant to the offer.
(2) Verification
(A) that the consumer continues to meet the specific criteria used
to select the consumer for the offer, by using information in a
consumer report on the consumer, information in the consumer's application
for the credit or insurance, or other information bearing on the
credit worthiness or insurability of the consumer; or
(B) of the information in the consumer's application for the credit
or insurance, to determine that the consumer meets the specific
criteria bearing on credit worthiness or insurability.
(3) The consumer furnishing any collateral that is a requirement
for the extension of the credit or insurance that was
(A) established before selection of the consumer for the offer of
credit or
insurance; and
(B) disclosed to the consumer in the offer of credit or insurance.
(m) Credit or insurance transaction that is not initiated by the
consumer. The term "credit or insurance transaction that is
not initiated by the consumer" does not include the use of
a consumer report by a person with which the consumer has an account
or insurance policy, for purposes of
(1) reviewing the account or insurance policy; or
(2) collecting the account.
** Credit Report Disclosures: You are required
to inform the consumer that their credit report is being used to
offer a firm offer of credit and the consumer has a right to opt-out
from receiving further credit offers by contacting the following:
Equifax Options at P.O. Box 740123, Atlanta, GA 30374-0123; Transunion,
Name Removal Option, P.O. Box 97328, Jackson, MS 39288; Experian
Consumer OPT-OUT, 901 W. Bond, Lincoln, NE 68521; or call 1-888-5OPT-OUT
(1-888-567-8688)
Pre-selected Criteria: As long as the consumer’s
credit information remains the same, the pre-selected criterion
that was initially used to extract the customer’s credit report
cannot change for the duration of the campaign and the offer of
credit will need to be honored.
How can I increase the number of leads I generate?
There are many components that affect how a campaign performs. First
and foremost, you need to make sure that you are using the most
accurate and targeted data available. Check your list selection
criteria carefully and make adjustments based on response rates.
Your deployment method also greatly impacts the number of leads
you generate. While direct mail and telemarketing are both effective
ways to generate leads, an integrated campaign using both channels
is likely to boost response.
The key is to track response rates and conversions
so you can get a clear picture of what has been successful for you.
Examining trends in your results will help you determine the effectiveness
of your direct mail piece and/or telemarketing script. We will be
happy to take a look at your existing materials and provide you
with feedback.
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