Grow your mortgage business with lead generation marketing

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Grow Your Mortgage Business with Lead Generation
Marketing

• In a competitive market like the mortgage
  industry, staying ahead of your competitors is
  vital for your success. Using CRM software such
  as Shapes Mortgage CRM will definitely help, but
  it shouldnt be the only tool at your disposal.
  As more and more companies realize how much money
  can be made through mortgages, gathering high
  quality leads has become an increasingly
  difficult task. In general, 61 of marketers
  consider lead generation their number one issue
  in marketing, according to a recent study.

For this reason, hiring a mortgage specific lead
generation agency is a popular trend in the
industry, and something highly recommended.
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Lead Generation Statistics  Before we explore the
benefits of outsourcing lead generation for your
mortgage company, lets first look at some reasons
why lead generation itself is crucial for any
business. Only 18 of marketers believe outbound
marketing methods produce quality leads  Outbound
marketing has been on the decline for years, and
marketers are increasingly shying away from that
type of practice. Lead generation avoids this,
focusing on nurturing leads and developing them
into qualified leads for your sales team. On
average, cold calling only produces 1 of paying
customers  Although cold calling doesnt require
a huge amount of effort, it seems like a waste of
time if it only accounts for 1 of your
customers. If your company still relies on any
type of cold outreach to generate sales, its
probably time to focus your efforts
elsewhere. Almost 80 of marketers noticed an
increase in both leads and conversions when using
automated marketing software  Currently, lead
generation uses automated marketing software to
both identify leads and actively nurture them
through the marketing funnel. In addition, most
automated marketing software is designed to
integrate with customer management software such
as Shape Mortgage CRM, which can enhance your
marketing even more.  There are other uses for
automated marketing software, but the most common
use happens with lead generation marketing.
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Nurtured leads spend 47 more per
purchase/contract compared to non-nurtured
leads  The lead generation process works by
nurturing leads through your marketing cycle,
constantly exposing them to your brand or
product. By doing this, these nurtured leads
spend more money than non-nurtured leads by 47
(on average). For B2B, this often means choosing
the more expensive plan or staying as a client
for longer. For B2C, this could mean buying a
more expensive item or buying more items as a
whole.  Why You Need Lead Gen for Your Mortgage
Business In a general sense, it should be clear
that quality lead generation is essential in any
industry. Being able to constantly supply your
sales team with qualified leads is a guaranteed
way to help any business, regardless of what
their product or service is.  But in the mortgage
industry, lead generation is seen as an absolute
necessity for two reasons    Mortgage Leads
Possess Extremely Specific Qualifications Unlike
other B2C industries, convincing a randomly
selected person to use your service will almost
never work in the mortgage industry. The decision
to buy a house isnt something that happens in
the heat of the moment, so if a person doesnt
want to buy a house theres not much you can do
to change their mind. 
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• But lets say they do want to buy a house. You
  then need to figure out if this person will
  actually qualify to purchase a house, which isnt
  easy. For starters, here are a few possible
  issues a potential borrower must address before
  qualifying for a conventional loan
• Down payment
• Credit score
• Mortgage insurance
• Income
• Employment/self-employment 
• Debt-to-income ratio
• Cash reserves
• Occupancy 
• Home appraisal
• It is possible that someone will want to purchase
  a house while meeting all the requirements,
  however this scenario is extremely unlikely.
  Using lead generation, you can essentially vet
  your leads, narrowing them down so the ones
  remaining either are trying to buy a house or
  meet some of the requirements above.

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Competitiveness in the Mortgage Industry The
mortgage industry has become increasingly
competitive in the last several years. The number
of mortgage lenders, brokers, and originators
have been rising, crowding the lending industry
and saturating the market. Because of this,
simply providing quality service wont be enough
to separate yourself from the pack anymore.  But
dont misunderstandquality service will still
benefit your company, especially in the long
run. When I say its not enough, I mean its
not enough on its own. At the end of the day, you
can only provide high quality service to
borrowers once they begin the loan origination
process. The quality of your service, good or
bad, wont matter if you cant get them through
your doors. Regardless of your industry, it
doesnt matter how good your product is if no one
knows about it. To succeed in todays
competitive climate, its imperative that
mortgage companies have proper lead generation.
Consistently providing qualified leads to your
sales funnel will not only contribute to the
short-term growth of your company, but it will
also help sustain this growth in the long run.  
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In general, lead generation can happen one of two
ways either through an in-house marketing team
or through an outside agency. Both in-house and
outsourced lead generation are viable options
with distinct pros and cons, but in this article
we will be focusing on the benefits of
outsourcing your lead gen marketing.  Why You
Should Outsource Your Lead Generation Lower
Overall Cost Compared to In-House Arguably the
most beneficial aspect of outsourcing your
marketing is the overall cost, as developing an
in-house lead generation team can be quite
costly. Although the size of the team can vary
from company-to-company, on average the total
cost of paying your in-house marketers will be
higher than the monthly price of a lead gen
agencyand thats not all.  You also need to
factor in the overhead costs associated with an
in-house team. From the software on their
computers to their company Smartphone, your
employees will need certain items to function as
a proper lead gen marketing team. And once you
include office space, training, and management,
you should clearly see how expensive an in-house
team can be compared to outsourcing.
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A More Efficient Marketing Process One of the
most time-consuming steps in the marketing
process is figuring out the initial marketing
strategyand lead gen marketing is no different.
Marketing teams can spend weeks planning their
campaigns, especially if they have no prior
experience to work off of. If you commit to
in-house lead generation, there will be a lot of
time spent strategizing and discussing potential
approaches to the campaign. Outsourcing, however,
avoids this whole ordeal. With a little bit of
research into your prospective agencies, you can
choose one that specializes in mortgage lead
generation, which means they should already have
experience dealing with your type of service.
They can almost immediately begin the lead
generation process, providing qualified leads
ASAP. Easier Time Evaluating the Results When
you outsource your lead generation marketing,
evaluating the results becomes much simpler. If
your sales team is receiving high-quality leads
on a consistent basis, then the agency you hired
is doing their job. If your sales team isnt
receiving high quality leads consistently, then
the agency you hired is not doing their job. You
only need to evaluate the agency as a whole,
rather than each member of a team individually.
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• Spend Less Time Managing
• Building a successful in-house marketing team
  that can handle the lead generation process
  requires extensive managing. For example, if you
  were a new mortgage company looking to create
  your own in-house marketing team, you would need
  to
• Hire your team 
• Train your team 
• Provide the proper equipment and software for
  your team
• Create a HR department for your team 
• Monitor the results and performance of each team
  member
• If you choose to outsource, you only need to
  focus on the last bullet point monitoring the
  results.
• Choosing the Right Mortgage Lead Gen Agency
• Although outsourcing your lead generation clearly
  has its benefits, it does have one obvious, but
  significant, issueyou lack control over the
  marketing team. I mentioned before that
  outsourcing is often the cheaper option, but
  thats only relevant if the marketing agency
  actually produces high quality leads. If the
  agency you choose fails to live up to
  expectations, this whole process turns into a
  waste of both time and money, which could have a
  severe effect on smaller companies.
• Below are the main concepts you need to be
  concerned with when choosing a lead gen agency.

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What industries do they cover? Most lead
providers specialize in certain areas, so it is
important you choose one with experience in the
mortgage industry. This should be relatively
easy, as most agencies clearly state the
industries they specialize in on their
homepage. Do they provide leads for
you? Although most lead gen agencies handle the
task of providing leads, some do not. These
agencies focus on the nurturing aspect of lead
gen, and rely on your company having an
established marketing funnel for them to grab
leads from.  If you do not have an existing
marketing funnel, make sure the lead gen agency
you choose will provide leads as part of their
service. How do they generate their leads? If
you choose an agency that provides leads for you,
its crucial you understand how the leads will be
produced. You do not want agencies that buy bulk
leads from third-party lead distributors, as the
quality of those leads is often lacking. This is
because those leads will be sold to several lead
gen companies and independent mortgage
businesses, making them highly competitive. Ideall
y, you want an agency that creates a marketing
funnel solely for your business. Having your own
marketing funnel will guarantee your business
unique leads, giving them a much higher chance to
convert compared to others. If this isnt
possible, the agency you choose should at the
very least have their own marketing funnel to
generate leads. These leads can be shared
throughout the agencys clientele, however most
will designate certain leads specifically for
your company. 
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Does their lead generation software integrate
with your CRM? (if you have one) Its important
that the software your lead gen agency is
flexible enough to easily integrate into the CRM
software your company uses. Most CRM softwares
are designed to function with marketing software,
however that doesnt mean everything will
integrate smoothly.  If your company uses a CRM
software (i.e. Shape CRM), I recommend you check
to see if their marketing software integrates
with your CRM. Currently, most companies use some
form of CRM software, so it is important that the
software your lead gen agency uses can integrate
with your CRM.  (Header 5) Best mortgage lead gen
companies Now that you have a general
understanding of what you should be looking for,
here is a list of a few popular mortgage lead
generation agencies 1. LeadPops LeadPops is a
marketing agency focusing on the mortgage and
real estate industry, where theyve claimed to
have generated more than three million
ready-to-fund leads since 2014. Their services
are flexible, as they offer both standard
marketing services and quality lead generation,
depending on the needs of your company.  As a
lead generator, leadPops uses pre-built marketing
funnels that are designed for easy implementation
into your marketing channels, if you have them.
These funnels are unique to each client, meaning
any leads generated by your funnel will be
exclusively yours. The funnels work by using
non-threatening quiz-style forms to quickly
filter your potential borrowers, ensuring your
sales team only deals with qualified leads. 
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• If you currently have no existing marketing
  channels, leadPops can combine both their
  standard marketing service and lead generation
  service into one comprehensive plan, providing
  everything you need for a slightly higher cost.
• Price Range 97/month - 297/month
• Strengths
• Both provides leads and nurtures them
• Leads are exclusively for your company
• Generates leads for 21 different mortgage loan
  types
• Has CRM integration
• 30-day free trial
• Upfront pricing
• 2. Verse.io
• Verse.io is a marketing agency that specializes
  in lead generation for the mortgage industry. But
  unlike the other marketing agencies on this list,
  verse.io does not offer any services that will
  generator leads for you. Instead, they focus
  solely on the nurturing aspect of lead
  generation, ensuring that any lead that comes to
  your sales team will be 100 qualified with a
  high chance of conversion. 

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• More so than anything else, verse.io emphasizes
  their ability to support 24/7 lead coverage with
  both AI and human communication. Most agencies
  that provide lead generation claim to cover leads
  24/7, but they do this strictly through automated
  messaging systems and AI. Verse.io provides
  in-person lead coverage 24/7, which greatly
  increases the likelihood of a lead converting. In
  addition to this, verse.io also nurtures both
  responsive and unresponsive leads, while also
  supporting omnichannel communication depending on
  the preference of the lead.
• So if youre looking for an all-in-one lead
  provider for your mortgage business, verse.io
  probably isnt for you, but for those who already
  have a proper marketing funnel, I highly
  recommend verse.io. 
• Price Range Varies by customer
• Strengths
• 24/7 lead coverage
• Use both human and AI
• Nurture both responsive and unresponsive leads
• Communicate however the lead wants to
• Great customer service

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• 3. LendingTree
• Founded in 1996, LendingTree is a great option
  for mortgage lenders that want to be involved in
  the lead gen process, but also need hands-on
  lender support. When you partner with
  LendingTree, you instantly gain access to a
  network of over 30 million high intent borrowers,
  with built-in filter functions to narrow down
  your choices. LendingTree is one of the few
  companies that can provide a service like this
  simply because of their brand recognition.
  Potential borrowers head to LendingTree.com to
  learn more about mortgages and the loan process,
  and are prompted to make an account during their
  time on the site. This is the primary way
  LendingTree adds borrowers to their network, so
  you know every person you market towards will be
  knowledgeable and have an interest in borrowing.
  On top of that, LendingTree provides client
  support for all aspects of their service. Your
  business will have a LendingTree expert at your
  disposal if you ever have questions about their
  software or marketing, and they even offer sales
  and leadership courses as well. 
• Price Varies
• Strengths
• Hands-on support
• Wide range of services
• High quality leads
• Large volume of potential leads
• Brand recognition

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4. Arlo.ai Arlo.ai is an all-in-one lead
generator, including both standard marketing
services and lead generation in every plan. They
specialize in the mortgage and real estate
industry, where they claim to generate 5x more
loans from the same marketing budget while
allowing you to work less. For their services,
arlo.ai includes the following in every plan
automated advertising campaigns, intelligent web
forms, and automated outreach.  Their automated
ad campaigns work by using an A.I powered
marketing assistant to guide you through the
duration of the campaign. All you need to do is
fill out a short form at the beginning, and
arlo.ai essentially handles the rest of the
campaign for you. They launch ads from your
social media accounts, growing your brand while
ensuring that the generated leads are 100
yours. While their ad campaigns bring in new
leads, the intelligent web forms and automated
outreach are designed to nurture and qualify
these leads. The automated outreach is relatively
straightforwardyou get instant follow up on all
of your leads. But the web forms are what make
arlo.ai unique. These web forms are custom made
for the mortgage industry, requiring less fields
to fill out yet providing more data to you.
Arlo.ai claims that, on average, their
intelligent web forms convert 6x more visitors to
loans than standard forms. Combine that with
instant follow up and your leads are guaranteed
to be qualified. Price Range 195/month -
295/month
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Strengths All-in-one service Will scale with
your business 3-months free with annual
plan Leads are exclusive for your company Upfront
Pricing 5. Experian Experian Mortgage is an
industry expert that possesses both experience
and insight in mortgage marketing. Although they
just discontinued their self-service solution for
mailing list creation and data append, Experian
still offers comprehensive mortgage marketing to
generate leads for your business.   Overall,
Experian provides four key benefits to your
business insight and analytics, marketing tools
and guidance, a streamlined origination process,
and access to consumer data. On their own these
might seem relatively average, but when these
solutions work together your business will see
great results. For example, having access to
consumer data on its own is valuable, but not
game changing. But when you combine that with
their industry insight and analytics, the
information you draw from it becomes much more
relevant and applicable to marketing and the
origination process. This synergy between
services has allowed Experian to remain a giant
in the mortgage industry for years, which is one
of the reason why they are a solid choice for
lead gen. Price Varies by Client
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• Strengths
• Experienced in mortgage marketing
• Provides a wide range of benefits
• Has access to consumer data
• Analytics focused approach
• 6. LoanBright
• With more than 20 years in the industry,
  LoanBright is another potential mortgage lead
  provider whose business model is unique to them.
  With LoanBright, you dont hire them as a
  marketing agency, nor do you purchase leads
  directly from them. Instead, you pay a monthly
  fee for a license that grants you a seat on
  their customized dialer system. They call this
  design model a Season Pass, which you pay for
  on a month-to-month basis.
• Through the Season Pass, LoanBright allows you to
  selectively (or completely) outsource your lead
  gen, along with online marketing and direct
  response call center functions. The more you
  outsource the more it will cost, however if
  something doesnt work out you can easily cancel,
  as LoanBright does not require long-term
  contracts to use their service. Like most lead
  gen agencies, LoanBright uses marketing software
  and tools to streamline the lead acquisition
  process, providing mortgage qualified leads when
  you use their service.
• Price Range Minimum 200/month 
• Strengths
• Abundance of experience in the mortgage industry
• Month-to-month commitment
• Real-time display of leads
• Great for local leads 

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• 7. TransUnion
• Founded all the way back in 1968, TransUnion is
  an experienced business that is constantly
  adapting the newest technology in lead gen. For
  mortgage leads, TransUnion does not directly
  provide leads like other companies on this list.
  Instead, the integrate their customize-made lead
  acquisition tools into your business, allowing
  your company to generate leads on its own. Then,
  you can utilize their prescreen campaigns to
  directly target individuals that have shown an
  interest in acquiring a mortgage. The combination
  of these two lead solutions provided by
  TransUnion is a trusted way to generate leads for
  your mortgage lending business.
• Price Range Varies Per Client
• Strengths
• Leads are unique to you
• Produces qualified leads
• Precise lead targeting
• Service is highly customizable
• Article Source- https//setshape.com/blog/grow-yo
  ur-mortgage-business-with-lead-generation-marketin
  g