Only a few short years ago, internet leads for mortgage loans were among the best consumer-initiated leads available to any mortgage professional. However, these leads have become over-saturated these days. There is far too much competition and over-selling of this information on the part of the people who run these websites, promotional ads and gimmicks, and offering to do almost anything just to get the consumer to sign up for their featured service.
Even though the conversion ratio has gone down significantly for internet leads in the mortgage industry, these are still an excellent source of new business for other markets, like debt settlement, credit repair, or if you want to provide a semi-exclusive lead to a large loan officer team. Do not buy exclusive internet leads unless they are first called by a call center, then live transferred to you directly. Unverified paper leads can cost you much more than they’re ultimately worth.
Telemarketed leads have at least some chance of being high quality. This is because you might happen to call a borrower on the right day and time, and bring up a topic that has been on the back burner of their mind for a while, and they are finally ready to talk about it with you and make a purchase decision – minds can change easily and quickly. However, since the creation of the Do Not Call list, it’s been difficult to reach many borrowers. Data may also be sold and resold in the popular states, meaning you may not be the only one who has been calling this person, and they may be sick of all the phone calls..
Even if you buy an exclusive lead, other call centers are very likely contacting the same data, whether they are domestic or foreign. When asking about call center leads, ask where the call center is located. That’s because most American homeowners will respond less when obviously foreign out-sourced call centers ask for information.
If you are pursuing a telemarketed lead, you might want to ask your company about live transfer options, or be sure you receive a file of the conversation with the borrower, so you can at least know that the person was interested in finding out more about a loan or home mortgage refinancing [http://lasertargeted.com/mortgage/home-mortgage-refinancing-contract.html]. Otherwise it’s difficult to keep your provider in check about how valid the mortgage loan leads [http://lasertargeted.com/mortgage/mortgage-lead-generation.html] are.
Direct mailers are known to be effective on a long-term basis, but you shouldn’t expect to see any rapid results or immediate conversions. The average person needs to see the same advertisement 5-7 times to respond, if there is an interest. So even if response is low on your first two or three campaigns, hang in there, it will take a few more campaigns to get your marketing engine running! You should budget enough to keep this advertising going for about three months before you see a return on your investment. This strategy is recommended for companies who have been at it for a while. The direct mailer strategy can also be one of the best strategies for niche markets, such as reverse mailers and BK lists.