How to use aged solar leads to reach now-ready prospects

By James Schulze

This article discusses recent news that could stimulate solar installation sales and how solar installers can best utilize aged solar leads to drive growth in this environment.  

Many consumers love the idea of having their homes converted to solar energy, saving on their utility bills, and helping the environment. What may slow their enthusiasm is the high price tag of a solar installation project. According to Bankrate, the average price for a 5kW system ranges from approximately $15,000 to more than $20,000, depending on the state. Not surprisingly, many homeowners take out personal loans to finance their solar installations. Financing has become a major inhibiting factor to solar installation sales.

Recent wins for the solar industry

Some recent financial news could have a positive impact on the solar industry and future expectations of sales growth. The 10-year government bond yield, which can affect personal loan interest rates, has been decreasing over the past seven months since hitting as high as 4.98% in October 2023. Most recently, on May 14th, the rate was 4.45%, 53 basis points down from the high. While this is still quite a bit higher than three years ago, the downward trend is encouraging. Lower personal loan interest rates will make financing solar projects a bit more palatable to consumers, potentially stimulating sales growth.

In other news, AP reported that a group of energy regulators on May 13, 2024 approved a new rule that will expand transmission of renewable energy such as solar and wind power. A larger, more robust U.S. power grid will make solar installations a viable opportunity for consumers in all parts of the country. The future on solar is bullish.

Use aged solar leads to grow sales in this environment

Consumers often spend considerable time deciding whether or not to take on a solar installation project. After all, it is a big investment with a long-term payback. Very few solar installation deals are closed in the first discussion. This lengthy sales cycle should be factored in when making a decision about the type of sales leads you buy. 

Aged solar leads offer solar installers an attractive option. They represent consumers who once opted in to learn more about solar installations. They may have expressed interest more than six months ago, but for any number of reasons, may not have moved forward with a project. At the time, interest rates may have been too high and a project was not financially feasible. With lower interest rates and an expanded power grid making projects more affordable and viable, they may now be ready to take on a solar project.

Ensuring sales effectiveness

Aged solar leads have performed well in several independent tests across the U.S. To be most effective in using these leads, it is important to:

• Establish an appropriate cadence

Many installers will buy reasonably-priced aged leads, call them once, and then become discouraged because they don’t get the connectivity and conversions they were hoping for. Some give up before they even make it through the list one time. To be successful, you must call each lead three times a day, varying times, over a two-week period. This is a numbers game.

• Make sure you are set up for high deliverability 

You will need to make sure your DIDs are clean. That is, your outbound phone number that comes up on a potential customer’s Caller ID must not show up as “spam likely.” It is important to know and abide by the rules for each state you are targeting. All your numbers should be registered and preferably have an area code similar to the leads you are calling. Limiting the number of calls per DID and cycling the leads through different DIDs will also help your deliverability.

• Create the right script for this environment

One of the quickest ways to prematurely end a call and any future opportunities with a prospective customer is to deliver a script that is off the mark in content. The recent news of possible lower interest rates may make projects more affordable, the key stumbling block for most homeowners moving forward with a solar project. Incorporate this news (and pain point) in your scripting to help you re-engage with old leads. 

Getting started on using aged solar leads in a bullish solar industry

Based on recent news, the solar industry seems poised for sales growth. Aged solar leads give you access to consumers who were interested in solar installation at a moment in time. A solar project may not have been affordable then, but given this week’s news, it may be now.  

If you would like more information on how you can grow your solar installation sales in this environment, give The Leads Warehouse a call at 1-800-884-8371 or visit our website at http://theleadswarehouse.com.