Leverage Your Existing Clients
This wont help you if youre brand new in the game. But if youre looking for more leads and youve got a back book, sending something out to previous clients can be a simple source of new business.
This is especially the case with remortgages. You can automate a nurture sequence to follow up with clients at the time when their deal is ending. Mortgage protection is another good area perhaps your mortgage client wasnt ready to think about protection when their house purchase was going through, but they might be feeling differently now.
One thing weve found with email marketing is that you need to lead with education, rather than a sales message. The same is true with Facebook posts and other marketing sharing useful content rather than a sales message is much more effective at generating business.
We also find that its better to keep emails short and snappy and make sure they direct people to your website. Think of them like a social post. They dont need to be beautifully designed and branded although you could send a couple of versions and test which one gets the most engagement.
With emails you can get quite clever these days and programme a sequence. Perhaps if somebody clicks on three emails in a row, you could show them a more conversion focussed email.
Keep Track Of Your Interactions With Leads
Keep track of all your efforts to convert mortgage leads. You can do this using an excel sheet, a word document, CRM software, and Google Analytics. Whenever you call, email or send text messages to mortgage leads, record the interaction.?
The truth is, what gets measured can be improved. This way, you know the best way to follow up on your mortgage leads based on your success rate with phone calls, email or text messages. It will also help you keep track of when you contacted mortgage leads so you can pick up from there the next time you contact them.?
Doing this will make your prospects appreciate you the more.?
There Are 3 Spots On Google Locally Up For Grabs
When anyone searches for a mortgage broker or mortgage advice on Google, they will see a list of local businesses in their area as supplied by Google Maps. So its very important to have your business featured on it.
There are three spots per search, and sometimes there might be a competitor advertising to get on that map. But if you can earn the right to be there for free because of good content, you can get decent traffic and inbound calls that can make a big difference.
There are about 250,000 searches a month just for mortgage broker or mortgage advisor.
Google Maps is a great way of getting to the top of the search engine for your local area.
To get there you need to register the business on Google My Business. You do need a physical location virtual offices arent officially allowed .
Getting reviews is also very helpful and there are various other tools in you can use.
Theres a video guide on how to feature your business on the top 3 of Google Maps on the MHBS Marketing Hub.
Recommended Reading: Rocket Mortgage Loan Requirements
Lead Gen Strategy #: Build A Niche Mortgage Advice Website
Want to get leads from Google?
You can do so by creating a niche mortgage advice website that is tailored towards your target audience .
It boils down to these three things:
That way, you will not only get organic traffic from Google but also convert that traffic into leads.
Keep in mind that search engine optimization is a long game. Be prepared to invest at least 12 months into it before you start seeing meaningful results.
When Trying To Decide What Company To Buy Leads From There Are A Few Basic Things To Consider: The Companys Reputation Type Of Lead And Price
First, consider the company
Whether you choose Zillow, Bankrate, Trulia, or any other lead aggregator, its important to do your research.
What do their customer reviews say about them? Are their leads quality? Do they offer the ability to cherry-pick leads? Are their leads exclusive or non-exclusive? Do they buy leads from another company or are you receiving fresh leads?
All these questions and more are important to consider as you decide which company to buy leads from. Some LOs choose to buy leads from multiple companies and utilize a wider range of leads.
Next, think about the type of lead you want to buy
As mentioned above, theres a big difference between the types of leads. For example, you could buy exclusive leads , or you could choose non-exclusive leads.
Non-exclusive leads can be a slippery slope however, since you cant guarantee how many other LOs also bought that leads data. The competition for a customers business is already steep without the challenge of other LOs calling them too!
This doesnt mean you cant be successful, however. Just make sure you have a plan to get in contact with leads as soon as they come in. Syncing the lead aggregator to your CRM and triggering an immediate workflow is your best contact strategy for this type of lead.
Determine how much you want to pay
Price is obviously a very important factor when it comes to buying leads. Be aware that many companies require a minimum deposit, which can be $500 or more.
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Lead Generation Method #: Content Marketing
The most popular way to market your services online is by creating valuable, free content that prospects can consume at any time. Content comes in many forms. It can be an article like this one, a video, or even a podcast. Dont be afraid to try out different mediums. In fact, 58% of millennials report that YouTube is their platform of choice for learning about financial topics.
The purpose of any piece of content is to educate and engage with an audience. So, for instance, lets say you write an article about the mortgage underwriting process. Anyone searching Google for information on mortgage underwriting could potentially find your article.
The best part? They could be looking for information because they might be getting ready to buy a home and need to secure a mortgage. With content, you place yourself in a fantastic position to be first-in-mind when a prospect is looking to make a move. Plus, you position yourself as a thought leader on the topic and offer value to your audience. Educating prospective customers makes it far more likely they will trust and remember you.
Content, when done right:
- Lays out information straightforwardly and incorporates your brands tone and voice
- Delivers valuable information before it asks anything of your customer
- Ends with a call to action prompting leads to learn more, fill out a form with their email address, get in touch, etc.
Life Insurance Agents / Financial Planners
Most people buy life insurance to protect their family and their familys lifestyle in the event of an untimely death. This often takes into consideration debt obligations that they must pay such as a mortgage. While its not always the best product for the situation, there is a line of business called mortgage protection insurance for a reason.
Financial Planners and advisors have in-depth knowledge of a persons financial situation, including the terms of their loan. This puts the trusted advisor in the position to recommend a refinance if payments could be lowered, advice on real estate investments, or a cash-out refi if theres an investment opportunity requiring additional funding.
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Automatically Stop Email Marketing When A Customer Enters The Loan Process
Once someone is already in the loan process, the Loan Officer should be driving all communications, and they should be personal and specific to their loan. Its confusing at best, and irritating at worst for someone in the middle of the loan process to be getting automated email marketing campaigns. A tag like In Loan Process in your CRM or email marketing platform can be used to automatically suppress active clients from getting automated campaigns.
Why The Industry Is Behind In Lead Generation
Only around 5% of mortgage brokers are generating enough leads to keep their business viable, according to a study by Wealthify, a digital marketing and lead generation company.
The Wealthify Broker Digital Pulse was based on a survey of 3,000 finance brokers conducted in June 2017.
Around 56% of the brokers surveyed said they were not receiving enough leads while 39% said they could do with more.
The report found that the broking industry has a heavy reliance on referral business, without around 92% of those polled relying on referrals.
This a problematic strategy because there are a number of low-cost online brokers as well as online lenders emerging every day which are competing and sometimes undercutting the banks on price and convenience.
Another 34% were getting most of their leads from Facebook ads, followed by referrals with real estate agents, conveyancers and accountants among others and efforts using social media .
A good brokerage shouldnt leave you wanting for leads.
Unfortunately, some brokerages dont want to spend or dont have the time and resources to build a solid mortgage broker lead generation strategy.
Home Loan Experts is one of the few with an industry-leading marketing strategy thats managed by a a dedicated in-house marketing and technology team.
Check out our to discover more about Home Loan Experts and our current career opportunities.
If youre in Sydney then consider working for us.
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How To Generate Qualified Mortgage Leads Online
Mortgage brokers need customers, and while research suggests that the vast majority of leads come from current or previous customers, these alone wont sustain a business, especially if you wish to grow. Thats why many brokers buy leads from lead generation companies. This may seem like a quick and effective solution, but it has many problems and there are other options.
In particular, many brokers are increasingly looking at how their own website and team can support their online lead generation and deliver new customers. Before we look at how mortgage brokers can generate qualified leads online, well examine some of the problems from buying leads from traditional lead generation companies.
Does Their Lead Generation Software Integrate With Your Crm
Its important that the software your lead gen agency is flexible enough to easily integrate into the CRM software your company uses. Most CRM softwares are designed to function with marketing software, however that doesnt mean everything will integrate smoothly.
If your company uses a CRM software , I recommend you check to see if their marketing software integrates with your CRM.
Currently, most companies use some form of CRM software, so it is important that the software your lead gen agency uses can integrate with your CRM.
How To Generate Mortgage Leads
WOWA.ca users are highly-motivated consumers that are interested in YOUR financial products. Our Mortgage Advertisers only pay for leads that work their way through our funnel and choose to provide their contact information. These are consumers that are interested in a particular rate or mortgage/HELOC product, and are not just looking for general information. We also have leads that are directly looking for a mortgage broker to help them with their financing. This means you only pay for qualified, engaged consumers who want to learn more about your offerings.
Establish Relationships Within The Real Estate Industry
Mortgages and real estate purchases go hand-in-hand. Building relationships with real estate agents and real estate agencies that then recommend your services to their clients is a huge asset for mortgage lead generation. Many agents like to be able to recommend trusted and preferred mortgage brokers and loan officers to help their clients successfully secure financing for a new home.
Reach out to agencies in the area and offer to do a presentation explaining how you can be an asset to their agents and clients. Demonstrate how youll be a valuable resource to the agency as well as how partnering with you will generate real estate leads for their agents. In addition to real estate agencies, other types of potential referral partners include new homebuilders, title companies, and similar types of organizations.
Many real estate agencies also host first-time homebuyer seminars, and you can offer to be a fixture at these events for questions and information related to mortgages. You might even ask whether the agency is willing to co-brand the event with you if that is allowed in your state. Make sure you have flyers and business cards available to generate mortgage leads at the event.
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Lead Generation Method #: Google My Business
Local SEO is a specific type of SEO that focuses on marketing to people in your area. While content can enhance local SEO , the fundamentals differ from content marketing.
Google My Business is the best way to get started with local SEO. All you need to do is . When your page is set up, you can input your operating hours, phone number, email, service offerings, images of your business, content, and much more. When youre done, Google Maps will automatically list your business. Now, whenever someone types in something like mortgage lenders in your area, you could show up in their search results.
Strengthen your page by requesting reviews from past clients. Send them a link to your Google My Business page and ask them to share their feedback. The more highly rated reviews your firm has, the more likely Google will recommend your business through its search results. This is a fantastic way to build social proof and acquire new mortgage leads.
Create Content: Gain The Trust Of Your Target Market To Get Mortgage Leads Online
They say content is king and it is when you create quality content for your audience. What does that mean? It means that you have to spend the time to create content that is relevant to your audience. Create content to send to your network and current leads in your pipeline, such as:
- Mortgage loan checklists
- Monthly newsletters
- Educational videos
What if you dont like creating your own content? You can easily hire someone to write for you. To find a copywriter, you can post an ad for a ghostwriter or you can go to sites for freelancers, like Fiverr or Upwork. Before hiring any writer, make sure you know what you want from them and have a content plan. If you still want to write your own content, here are some tools to help you.
Which tools will help you write your own content?
If you are going to create your own content, then you want to make sure you create quality content. Aside from posting your ratings on Zillow, which is important, you want to create content that will capture your audience and help you connect with them. The following tools will help you create content that increases readability and helps you stay organized.
How Do I Generate Mortgage Leads
Create Automated Email Campaigns To Follow Up On Leads
Email marketing is one of the simplest ways to generate leads, but its also one of the most widely used by just about every industry, so you need to be sure youre offering the right content to the right person, at the right time.Mortgage lending is not eCommerce most of your clients simply dont need to hear from you on a weekly or monthly basis, so be smart about how you use this channel or your unsubscribes will pile up. Creating automated, personalized follow up email series based on the category of lead is a far smarter and more effective strategy.
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Optimize Communication With A Crm
LionDesk CRM interface
A CRM streamlines communication with prospective clients and makes it easier to nurture and convert leads. Although there is a learning curve to most CRMs, it is an important investment for all mortgage professionals who intend to continue a successful career built from lifelong relationships and referrals. Not only do CRMs provide lead management, many also have marketing, transaction management, and robust digital communication capabilities.
A highly recommended CRM for mortgage professionals is LionDesk. With their all-in-one platform, mortgage brokers can generate leads from day one by syncing contact information and sending email campaigns using premade templates. In addition, the LionDesk dashboard is customizable and qualifies leads for you using artificial intelligence . Plus, theres no risktry it for free for 30 days.