You have a website up and running, your sales team on standby, and several ads in the paper. All this sounds great for a business making its way through the beginnings of a long upward climb. But are there enough prospective buyers? Are you making more sales? Check out the mortgage lead generation strategies and how they can connect you with the community.
What Is A Mortgage Lead?
Mortgage leads are any potential customers for your mortgage business. They are people who are interested in using your mortgage services. Different companies may vary in their definition of what a lead is in terms of how far along a prospect is in terms of your transaction with them. For some, any contact with the possible customer is already a lead whereas in others there must be a sure sale to refer to someone as a valid lead.
In this article, we will be talking about leads as potential customers from which you have acquired information from. These can, later on, be used to close a deal with you as a broker, mortgage lender, or loan officer.
There are also different ways to look at leads according to where they are as possible mortgage service customers. You will want leads that fit into these categories: those who are eligible to apply for a mortgage, those who are currently shopping for a mortgage, and those who are thinking about shopping for a mortgage.
Do You Need Mortgage Leads?
The simple answer is: yes. With more than 150 mortgage lenders alone in the United States, there is plenty of competition in the industry. For you and your company to stand out and grow you cannot rely on prowess and quality alone. Marketing and, more specifically, digital marketing in this case can help you acquire leads for your sales team as well as ensure that your leads are of good quality: they are set on owning a house and have the means to do so.
As a mortgage business after all it is ideal that your potential customers are those with positive stats in any of the aspects below:
- Credit score
- Cash reserves
- Debt-to-income ratio
- Down payment
- Employment/self-employment
- Income
- Mortgage insurance
How Do You Get Mortgage Leads?
In today’s internet-centered culture getting people to see your business online is an important strategy that will help you collect more leads. Pushing further than vague advice such as “Make a good website” or “Use Search Engine Optimization” here are some ways for you to generate more mortgage leads:
Organize Your Website So You Get a Sure Lead
There are various ways you can accomplish this:
- Use clear language- Do not beat around the bush. Each page on your website has to have a purpose and has to be loud and clear about it.
- Use website ergonomics- Your website is sort of like a calling card. The more presentable it is the more professional you look. The easier it is to use, the more clarity you show as a person.
- Include Calls-to-Action- What is your website for if not to help service your customers? Add at least 1 move you want them to make on every page of your website. Only one call-to-action per page of your website helps keep the entire experience easy.
- Keep it simple- If there is anything that lessens someone’s excitement it is lengthy forms. If you can just get a little info about your prospect before placing them on a page filled with blanks then do so.
- Make sure your website is on the important local directories- If you are not using one already sign up for a Google My Business account to get your business on Google Maps. Your website will show up on local search results if you do this, making it much easier for interested homebuyers to find you. AngiesList, Yelp!, and other listing sites are a good idea too. This increases the chances of you being discovered by more people looking for brokers.
- Create a Blog section- Write or hire someone to write content about trends, commonly asked questions, and other news related to mortgages and buying homes. Streamline the process with the help of a Search Engine Optimization (SEO) specialist to make sure topics are relevant to what your potential customers are searching for.
- Place Reviews on Your Website- Add customer reviews to your website so that those who visit it can witness anecdotes from people like the— customers. This can give them more confidence in your services.
- Make More Content- Don’t stop at making a blog. Infographics, videos, and other forms of media can go on your site too! These can also be appealing to a wider audience than written formats.
Get on All the Socials
You might already have a Facebook page or a LinkedIn but committing to creating content on these platforms can raise the bar for you. Getting-to-know-you segments and “Did You Know?” content or professional photos can make internet surfers’ eyes pop and tap on your name. You can also use your profile to interact with others thus putting your brand out there and clickable by people who visit those pages, in turn bringing more people back to your profile.
Make your content match your brand so it does not seem like you are having an identity crisis on your online platforms. If you want to come across as trustworthy and knowledgeable you might want to respond to LinkedIn posts in a well-researched manner. If you want to appeal to the cozy retiree, try posting a friendly Facebook quote. If you have a budget and want to start on the right foot, hiring a social media manager is an efficient method as well. This way someone with the experience and know-how to oversee this aspect of your brand can do so.
Make Connections
Connect with realtors and other professionals in your location to meet more people and get your brand out in the open. Be a part of organizations in your community, help with causes and charities. Tell your circle all about your business as well. Join events and trade shows. All of these are hands-on ways the old word-of-mouth marketing works. You can post about these on your social media platforms and website, too.
Reach out to old and potential customers through email lists every holiday season or during big events to increase the hype around your brand. Personalized messages can go a long way.
Reviews Matter
Getting a 5-star review on Yelp! or any other review website can make all the difference between you and some other obscure mortgage business. The more potential customers can find the proof you provide legitimate services the more they will be encouraged to reach out. You will also get feedback about your services this way.
Track Your Efforts
Trying your best to do all these strategies sounds ideal but to be realistic you will need to know if your work in optimizing your website is bringing more people to it. You can use Google Analytics as a free resource that will give you a hint of where your traffic comes from. Now that Facebook Analytics is gone you could try Facebook Business Suite or Creator Suite if you have those options available to you. These can help you understand how people are interacting with your website or page and its content. You can then put more energy into the parts of your website or socials that generate more leads or attract more people.
How Much Do Mortgage Leads Cost?
The ballpark is somewhere around $20 and $100 for one mortgage lead. The work does not stop there though. You will need to complete the transaction; you will still need to make those leads into actual borrowers. Be quick to respond to any leads to ensure you have them in the bag.
Final Thoughts
From First-to-Own buyers to repeat customers— leads can come in all kinds. You will need strategies to improve your lead generation as a mortgage business to ensure your sales are continuously growing. With the ushering in of the digital age, prepare your website, social media profiles, and online presence for the age of the internet.