Major credit bureau Equifax has introduced a lead generation tool for the mortgage industry. Thanks to its Mortgage Lead Generation Models, Equifax can now help users predict the probability of a lead converting to a sale within the first two to six months. Equifax believes this will allow mortgage lenders to better target their mortgage marketing campaigns because lenders will … Read More
Retention Marketing Versus Customer Acquisition
According to Harvard Business Review, it costs loan officers nearly five times as much to acquire a new customer as it does to retain a current customer. Increasing customer retention rates by 5% can increase profits by 25-95%. Keeping these points in mind, it should be easy to see that while building new business is important, nurturing current customer relationships … Read More
Three Types of Data and Their Impact on Mortgage Marketing
When using data collected to target mortgage leads, it is important to understand the type of data with which you are dealing. This will ensure that your mortgage marketing is being communicated correctly. Following are the three major types of data, which involve varying sources and interactions: First-party data – In its broadest terms, first-party data is data that has … Read More
Retargeting Leads is Crucial in Mortgage Marketing
What strikes us about lead generation in the mortgage industry is not so much how it is created (though the model could use some refinement) or the follow-up (which is decidedly interesting across the board). Rather, we are struck by how far the industry is actually behind in cultivating leads from past data and re-targeting leads on sites to build … Read More
How Does Intent Help Nurture Mortgage Leads?
Lead nurturing, the process of tracking and developing prospective leads into sales-ready customers, is a crucial component of any successful mortgage marketing plan. When mortgage leads are captured from various sources, they cannot be expected to simply convert to a sale at the first point of contact. The mortgage leads must be nurtured before they are willing to entrust a … Read More