Mortgage Leads: The Ultimate Guide To Getting Customers
Updated: Oct 18, 2018
So you want more leads for your business. It makes sense. More leads coming in, means more will end up converting into your paying customers, meaning more profit for your business - everyone’s a winner! But we’re getting ahead of ourselves…let’s start at the beginning.
What is a mortgage lead?
A lead is a potential customer for your business, it’s as simple as that. A lead may present itself in the form of a name, email address and phone number of someone who wants to find a mortgage, and need your help to do it. You can get mortgage leads from plenty of places, like via your website, from word of mouth, or because of your marketing efforts. You should always be thinking about the multiple channels that your customers might appear from.
The channel we’re going to focus on is paid lead generation, for a few reasons. Firstly, it’s one of the easiest methods to scale up and down alongside your business goals. Secondly it’s simple, as a lead generation service can do all of the work finding your customers, leaving you to focus on converting them. It’s also brilliant because you can easily track your success and ROI. This makes it one of the best methods to invest in when you’re looking to grow.
What makes a good lead?
Ready To Purchase
Your potential customer should be at the stage where they’re ready to make a purchase, and have a high intent to do so. This means people with a house and mortgage budget in mind, preferably with a housing deposit ready!
Leads are like bread...so much better when fresh. Once someone submits their details, you should receive their details straight away while they’re still hot! The longer it takes to receive them, the more likely it is they’ll turn stale.
In Your Sweet Spot
If possible, you should only buy leads that you can uniquely serve, or leads positioned in your sweet spot. For example, your customers should be looking at the types of mortgages you usually provide, be receptive to how you operate your business and have a budget you are able to serve. Geographically
Thanks to the wonders of digital marketing, you can target areas all over the UK. There's no need to be constricted by your location when you can reach further and wider than ever before.
Beware cheap mortgage leads that seem too good to be true...there may be a catch, like the leads are not exclusive, or are poor quality. Look instead for value - like paying a fair fixed price per lead.
Will Lead Generation work for me? Using lead generation to get mortgage leads can work for anyone. However, there are a few factors that can affect the value you get out of the leads you pay for:
Think about your sales process
Lead generation can only go so far. Once you receive the contact details of a potential customer, it's up to you to make sure you get in contact quickly and book them in to see you. We've put together advice on why speed is key to conversion, how to have a slick sales process and how to achieve the perfect sales call. Your conversion rate is highly dependent on how well you nurture the leads once you receive them.
Are you getting the best leads?
Not all mortgage leads were created equal. Many factors can affect how "good" you might consider the leads you receive. For example, you have more chance of converting an exclusive lead over one that has been sent to other mortgage advisers too. Different methods of collecting leads may produce varying customer quality too.
The multi-channel approach
Now we aren't saying that buying your mortgage leads through a lead generation company is the only way to go. In fact, what we advise is a multi-channel approach. Continue with your local adverts, social media accounts and website efforts - even set up a brand campaign on adwords if you can! But when it comes to having a guaranteed supply of cost-effective customers, lead generation can't be beaten.
Want mortgage leads for your business? Find your customers here