Ask any mortgage originator their opinion about online lead generation and you are likely to hear an earful. For some, online mortgage leads have been a tremendous way to grow their business. For others, the money spent on myriad services delivered no results. Ask mortgage marketing experts what our thoughts are, and we only have one answer: WHAT IS THE FOLLOW-UP?
The reality is that buying bad quality and cheaper mortgage leads is going to yield low quality results. Investing wisely in good leads can also go south if your CPC (costs per close) are insanely high. And you are truly missing the boat if you are not marketing effectively across all platforms to get their attention.
Once a lead is delivered to you, do you have automated, timely follow-up scheduled? What is your approach? There are MANY tricks of the trade with mortgage leads, but we keep those for our customers. (Hey, we give you plenty of info for free, but we have to keep some things under wraps!)
Your online lead campaign needs to be smart, automated, delivered across multiple channels, timed for the best hours when a prospective buyer can actually talk, and move the buyer toward application.
Ideally, for most buyers, you are asking the important questions to make narrowing the marketing journey around their specific needs easier.
The first questions to establish:
- Is the borrower employed currently and has their income been steady and stable?
- Does the borrower have a credit score that will enable them to qualify for their loan?
- Are there outstanding debts or liabilities that will cause the borrower not to qualify?
- How are their savings accounts?
- Do they have money for a down payment?
- Are they ready for the commitment of buying a home?
No matter which of the hurdles mentioned above are detected, you should have a comprehensive game plan for solving that problem for your mortgage leads. You should offer solutions the moment you leave the call and follow up immediately with the success plan for each lead. But don’t stop there. Keep in front of mortgage leads with excellent resources until they are ready to apply.
There is a science to great follow-up when it comes to mortgage leads, but, before you blame your lead provider for having poor quality leads, ask yourself if your strategy needs tweaking. Or ask Intent for help. We can show you how to make online lead generation your very best tool.