Maximizing Mortgage Lead Opportunities Online

Every time the banks tighten loan guidelines, it makes buying qualified mortgage leads more critical.  Mortgage marketing continues to unravel for many top mortgage companies, because the cost of business is rising yet in most cases the revenues are decreasing. 

How does a mortgage company spend their marketing dollar more wisely with mortgage leads?  The first step is to align your company with a mortgage lead generation company that offers leads that are not sold too many times.  Another important step is to partner with a lead company that is generating mortgage leads from applicants who really want a loan.  Buying leads from consumers that want to win an iPad rather than lock an interest rate will not help your cost to funding ratio.  Consider buying real-time mortgage leads or live transfer mortgage leads.  Even though they tend to cost more, the contact rates will be much higher and usually your cost to funding ratio will be much lower. 

Another important step to maximizing your mortgage marketing dollars is lead management.  Make sure your loan officers are calling the leads in a timely manner and verify that they are handling the calls the way you would like them too.  In many cases a loan officer will get bogged down with a few loans in process and then they will pretend to call new leads.  It is not uncommon for loan officers to fake following up on new leads.  Mortgage lead buyers need to evaluate the time a loan officer received the lead and the time they actually called the lead.  How many times are your loan officers calling on the leads?  Are they also following up with these applicants by email?  Remember that with internet mortgage leads, quite often the applicants prefer to communicate by email, so if your loan officers are only calling on the leads, then they are not managing the leads right.  And then of course there are the loan officers that only email the loan applicants because they don’t want to pick up the phone.  You need loan professionals calling and emailing the mortgage lead prospects to maximize online mortgage marketing.

The Lead Planet will create a custom lead generation program for you and your loan company. Take advantage of search engine optimization and consider our mortgage websites to help bolster your image and presence online.  Call the Lead Planet at 619-600-5720 and ask about our Free Mortgage Lead Incentives for new accounts.

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Comments

Lead generation companies are certainly not all alike. I appreciate that the Lead Planet provides organic search solutions for mortgage companies. Please keep me posted on any of your new marketing programs. – S. Anderson

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