Mortgage Lead Generation

Finding people that are looking for financial services such as residential and commercial mortgage can be a daunting task as there are thousands of mortgage services out there. In order to be a successful financial advisor, you need to have a good lead generation program that can get you potential clients. In this article you will learn the best mortgage lead generation tactics to capture serious mortgage clients.

What are mortgage or financial Leads?

A financial lead is a potential customer who has shown interest in your financial services with their contact details such as Full Name, Email and Phone. They have provided their contact information in order to receive more information from you or to set up a meeting to plan their finances. 

What are Qualified Leads?

Financial leads can be generated through extensive marketing using various generation platforms. This will determine the customer’s intent to gain more insight into your financial services. However, there are people who are interested in your services but may not fit the requirements. For example, someone may be interested in creating a financial plan but not have a stable job that leaves them with a large income after paying all of their bills. Finding someone that shows interest in your services and has the proper resources to use them would be considered a qualified lead. 

Pros of Qualified Leads

Qualified financial leads are the goal, since they are more likely to become actual customer. By generating high quality leads, it will allow you to have a higher ROI, build brand awareness, and to gain more information on your clients. The Business Exchange is a great platform for providing high-quality financial leads. They make it a priority for qualified financial agents to provide their financial services for all inquiries they receive.

Who is Your Target Demographic for Financial Leads?

It is important to understand who your target demographic is when generating leads so that you can find qualified customers. This includes their gender, age and location. By having this knowledge of your client base, you can create marketing content specific to them. The Business Exchange helps with lead generation and has an established list of users targeting any key demographic within financial services.

Lead Generation Options

Financial lead generation can be done all over the internet and in person. There are many different platforms for lead generation such as: social media, emails, blogs, live events, and networking.

Social Media 

Using social media allows your content to be seen by thousands of people but it doesn’t always provide high quality financial leads. If you do not know your target demographic or how to monitor engagement levels, your ads could be put on the wrong people’s feeds. Which will lead to many people signing up for your services without fully understanding what you are providing to them. Social media also pushes hundreds of ads to multiple users every day, so if someone signs up for your services and is not contacted within a reasonable amount of time, they will usually forget that they signed up in the first place, resulting in a large number of leads but low quality leads. 

Email Marketing

Using email marketing and blogs allows you to explain commercial mortgages, residential mortgages, business loans, and house loans in more detail than you can on social media. However, many people do not actively search for blogs and some people have the tendency to bounce away from emails not personalized to them. Users that receive emails may find the content not within their interests or do not read their emails in general. It’s important to have a segmented email list for the right people looking for financial services or financial lead generation.

Live Events and Networking

Attending events is very effective since you can speak face to face with potential clients and can determine if they are high quality leads but, this is very time consuming. Not everyone has the opportunity to attend the perfect event regarding their financial lead needs. 

How the Business Exchange can Help

The Business Exchange utilizes all of these platforms. They have social media accounts encouraging users to check out their sites to view businesses, franchises, and other services for sale. They send out emails for featured businesses and franchises to qualified leads. Blogs are posted frequently with the opportunity to have your services featured in a blog post dedicated to you. They also attend franchise shows where they network with thousands of people that can be considered quality leads. They explain their business to those people who look at the website and find your financial services amongst hundreds of other businesses and services.  

How to Generate Leads?

Generating leads can be difficult when first starting, follow some of these tips in order to find qualified leads. 

Personalized Emails

Everybody likes to feel special when receiving marketing content, like when emails are sent directly to them rather than one giant email sent to thousands of people. By personalizing emails it can generate up to six times higher revenue in comparison to emails that are not personalized. 

Ask for Referrals

People are more likely to trust friends or family who have a good experience with a business or service. By asking your current clients to refer other people to you it creates more credibility in your company and builds a sense of trust between you and your new potential client.

Network

By attending networking events you will grow your circle. Speaking to many different people increases the chances of them talking about your services to other people apart from their circle. Ultimately, growing your lead pool exponentially.

Exclusive vs Non-Exclusive Mortgage Leads

Understanding the difference between exclusive and non-exclusive leads is important.

Exclusive Mortgage

 An exclusive mortgage lead is sent to only a few lenders but is more costly, it has a higher closing rate since the lead is very interested in finding a mortgage. 

Non-Exclusive Mortgage

Whereas, non-exclusive mortgage leads are sent to multiple lenders and are less expensive but they have a smaller closing ratio since finding a mortgage is not the top priority of the lead. 

What is Best for You?

Choosing between the two depends on your financial priorities. If you have money to spend and want quick closes, exclusive leads are the best option for you. If you do not have as big of a budget, but want your mortgages to get a lot of exposure, then non-exclusive mortgages are the best choice for you.

What is Mortgage Lead Generation?

Mortgage lead generation is basically the same as any other lead generation, it is the use of marketing to attract customers. It is important to understand, as a mortgage broker because it is one of the best ways to find new clients.

How to Find Mortgage Leads?

You can find mortgage leads by creating relationships with real estate agents. By having this relationship, it encourages them to refer their clients to you. Another way is to post local listings, through search engine optimization local listings will show up on your target client’s search engine. Educating your target leads so that they know you’re reliable, credible and will build trust for any future work. Using these tips will also help you find qualified mortgage leads. 

What are Commercial Mortgage, Residential & Business Loans?

A commercial mortgage is when a commercial property gives a mortgage to a business. A residential mortgage is a mortgage for two or less residential units. Commercial mortgages typically have a higher interest rate than residential loans and the loans do not cover as much value of the property. A business loan is a debt that a company needs to repay.