Attracting leads to your mortgage brokerage is a vital step in growing your business. After all, your business needs customers in order to thrive. Leads are people who are interested in your products and services.
The goal of mortgage lead generation is to find those people, share information about your products and services, and get as many of the right people to buy your products or services. Both online and offline lead tactics can work. Below are a few ways to attract leads to your mortgage brokerage.
Offline Mortgage Lead Generation Tactics
Offline mortgage lead generation refers to practices that do not involve the Internet. For example, direct mail is considered an offline lead generation tactic.
Direct mail – Use the types of products you intend to market to guide you in purchasing a suitable mailing list. For example, if you intend to market reverse mortgages, you will want to target homeowners over age 62. Similarly, if you are marketing refinancing, you might want to target homeowners who have been in their homes for at least a year.
Telemarketing – Telemarketing involves calling potential or existing customers at their homes or businesses. Many consumers are on the national Do Not Call list, making it important to use care in purchasing lists to ensure compliance.
It’s often smart to call past customers periodically, especially if rates have fallen and they could benefit from refinancing. Loan performance software is helpful in identifying existing customers who could benefit from a new loan product.
Events – Home improvement shows are filled with homeowners looking to improve their properties, making them ideal for generating leads for refinancing. A popular way to capture names and phone numbers of leads is to hold a contest and have each person fill in an entry form with their contact details. The downside to this technique is that many people will enter for a chance to win, but may not be in the market for a mortgage.
Online Mortgage Lead Generation Tactics
Online mortgage lead refers to lead generation practices that occur online. The most common tactic involves using SEO or pay per click advertising to direct interested people to specific mortgage “landing pages” filled with compelling information and a call to action. The call to action could be to call an 800 number or fill out a form.
Do-it-yourself online lead generation – Some mortgage companies have the talent and resources to launch their own SEO campaigns to direct mortgage leads to a landing page with an online form. As leads come in, they direct them to brokers who call the lead, make the pitch, and hopeful, close the deal.
Buying mortgage leads – Buying leads from a third party lead provider is another tactic that can bring fresh leads to your business. The lead generation provider invests in SEO, website development, advertising, and more to generate as much traffic as possible.
From there, leads are captured and sold to mortgage brokers. The benefit to using such a service is that you can specify exactly what type of lead you are interested and pay only for mortgage leads that make sense for your business.
Both offline and online mortgage lead generation can bring a steady flow of leads into your sales pipeline. No matter which lead options you choose, pay attention to your conversion rates and continue fine-tuning the performance of your mortgage lead generation campaigns.
Frank Shields is the author of this article about mortgage lead generation tactics. He has worked in the loan and mortgage industry for a number of years. Feel free to connect with him on Google+.