Top 3 Mortgage Marketing Ideas Series (1 of 3)
The first installment of our mortgage marketing ideas 3 part series will start with Affiliate Marketing. Affiliate Marketing should be used by more brokers, but isn’t. Here is your chance to jump in and generate more leads for your mortgage company. It doesn’t have to be left up to the lead generation companies.
- In 15 or more licensed states
- Loan amounts 80k and above
- Landing page or a lead capture page to direct traffic to
If so, then you will have a much greater chance at attracting the larger mortgage marketing affiliates.
Which Affiliate Network OR Software to choose
Affiliate Networks – Each of these companies is currently generating 1000′s of mortgage leads daily for their customers. They understand the financial industry and are very trustworthy. But, that doesn’t mean you can let them run rampant. For example, by sending you 1000 leads when you only can handle 300.
- Media Whiz
Affiliate Software – You will need these software’s to track every activity from your affiliates. This is where they log into grab your creative, landing pages and where you know who/what, to pay and when.
How to control mortgage marketing fraud
Email field validation – This means that you check for valid formats and misspellings (@hotmiall.com), ensure top level domains (.com, .net, .jp, .biz, etc), determine if the mailbox can receive mail, determine if the domain of the email address actually exist.
Third party companies
www.cpadetective.com – They place a line of code on your website and immediately start scoring your leads based on millions of leads through their system to detect fraud. They claim 10% – 30% fraud exists among your leads. Sometimes upwards of 50%. Fraudulent leads convert 4 times lower than non-fraudulent.
www.Lashback.com – Email monitoring tool – They tracks the ads that are being sent out via email by your affiliates, sub-affiliates and competitors. Now you can take a proactive approach at stopping affiliates abusing your messaging and brand.
https://www.brandverity.com/ – This is a search engine monitoring tool. They help you monitor the search engines and alert you if any partners/competitors are bidding on your trademarks, other keywords that you don’t want them bidding on, and messaging that wasn’t approved by your marketing team.
Consider 100 leads that cost you $60 per lead generated to YOUR website. If you close 8% that equals 8 deals at an average of $1500 per closed loan equals $12,000. You paid $6000 (100 X $60 per lead). That is exactly 50% margin
- Marketing cost= $6000
- 8% closing ratio
- Average closed loan = $1500
- Revenue = $12,000
- ROI = 50%
Mortgage Marketing Idea BONUS – For the leads that you can’t fund because they are out of your state, criteria or otherwise. You can use any of the affiliate software’s above, partner with another mortgage company or lead generation company and sell them those leads. They will buy them in a split second from you. This is how you make mortgage marketing on the internet very profitable for you.
Take these mortgage marketing ideas and start fully implementing them. If you want to create massive value within your mortgage company, affiliate marketing is a proven way for your company to begin.