An important challenge for a loan officer in the mortgage industry is consistently generating enough mortgage leads to keep a pipeline full. When you are a new loan officer, it is often not enough to rely on traditional word-of-mouth referral marketing and develop relationships with real estate agents or other mortgage professionals. If you are looking for qualified leads, what is your best source? Mortgage Lead Generation Companies specialize in attracting leads that are likely to convert.
In this article, we examine some of the best mortgage lead generation companies and how to choose the right one.
Important Takeaways
- Learn about mortgage lead companies and how they can help you generate mortgage leads.
- The top mortgage lead companies and their services can be compared
- Find out how to choose the right mortgage lead marketing company.
How do mortgage lead generation companies work?
Mortgage lead generation companies specialize in helping your business acquire and amass qualified prospects. While some businesses still rely on internal lead collection strategies, these companies can help you switch to digital approaches and develop effective incentives that will draw a steady flow of leads into your sales funnel. By leveraging tools such as social media marketing, online ads, and other proven tactics, they’ll help you reach the audience you want and capture ready-to-convert leads for your team to close.
What is the process of lead generation companies?
Companies and loan officers work with lead generation companies to develop a successful lead generation strategy. By helping you analyze your target market, develop data-driven lead generation strategies, and leverage different digital marketing opportunities, they do this. Using demographics and online behavior, they help you determine your target audience.
See also: Best Mortgage Loans for First Time Home Buyers
In the digital age, borrowers are increasingly opting for online mortgage loan services. FannieMae estimates that two thirds of potential buyers favor the fully digital mortgage experience. For lenders, their website could become a highly effective lead generation tool or an inconclusive advertising venture. To successfully reach the right demographic and give visitors an optimal web experience, consulting with a lead generation company is essential. Such companies can provide sites that link directly to your CRM, empowering you to supervise leads and observe them through their entire journey.
How does a mortgage lead generation company help your business?
To attract and capture new leads, a quality mortgage lead generation company employs data-driven lead generation tactics and innovative technology. Additionally, they can help you develop a robust system of marketing to drive leads your way. This includes:
- Segmenting your audience helps you generate high-converting leads and develop your target audience
- A powerful website will help you attract the right audience while also providing an engaging web experience.
- A quality mortgage lead generation company will provide the tools to generate targeted leads, whether you are looking to generate refinance leads, foreclosure leads, residential mortgage leads, or commercial mortgage leads.
What to look for when choosing a lead generation company
Asking the right questions is crucial when choosing a mortgage lead generation company to help you boost leads. Some things to look out for include:
- Do they have an industry-specific focus?
- Do they specialize in generating mortgage leads?
- What are the methods for gathering leads?
- What is the exclusivity of leads?
- How are you charged?
- Is there a refund policy?
Test out a lead generation company to find out if it will work well for your business. Many businesses offer a trial period that allows you to see just how beneficial their services are. After the trial period, you can make an educated assessment. Ask yourself these questions:
- What is the number of new leads received?
- What is the conversion rate of those leads?
- What was the total cost of your project?
- What was the profit generated by the leads?
If the leads generated led to profit, you’ve probably found the right lead generation company.
There is a huge difference between the right lead generation company and the wrong one
You need to generate quality leads in order to succeed as a loan officer, and finding the right lead generation company can make all the difference. It is a good sign that your investment with a quality company will result in quality leads that will help you achieve your goals if that company is responsive, flexible, and willing to work with you.
The six best mortgage lead companies
In this article, we examine some of the top reputable mortgage lead companies, what they offer, and some of their advantages and disadvantages.
1. The Good Vibe Squad
Good Vibe Squad offers a convenient Done-For-You fractional CMO service which is only for mortgage loan officers. It takes charge of your marketing needs so you can devote yourself to closing loans. Through the utilization of its well-proven strategies, the company strives to induce mortgage leads and link them up with an automated process. Furthermore, they supply system training, sales coaching, phone scripts and high-performance advising to make sure that you are equipped with everything required for business development.
Also check out: How to Find the Best Mortgage Rate for You?
Offerings
It’s like having your own advertising agency with Good Vibe Squad’s Unfair Advantage fractional CMO service.
- Implementation of hybrid automation systems
- Creating qualified leads
- Advert planning
- Coaching for high performance
- A unique mastermind community is available to you
2. LeadPops
In contrast to traditional mortgage lead generation services, LeadPops focuses on every stage of your pipeline rather than simply lead generation. This process ensures that not only do you generate leads, but you nurture these leads throughout the entire pipeline as well. In addition to engaging potential leads, they increase engagement, and find leads who fit your target market using business-specific quizzes.
Offerings
- The Conversion Pro website
- Creating conversion funnels
- SEO for local businesses
- Advertising on digital platforms
- CRM integration
- Partnering with a success coach
3. Black Knight/Top of Mind
Black Knight Financial Services Inc., acquired Top of Mind in 2021 and integrated Surefire CRM into their mortgage technology ecosystem to accelerate mortgage marketing and boost lead generation.
Offerings
- CRM software such as Surefire
- Client for Life Program
- Power Messaging
- Power Calls
4. Chime Solution Suite
The Chime suite offers a multichannel advertising service that identifies and attracts potential leads, as well as a robust CRM system designed to help loan officers attract and nurture new leads. When a potential lead views an advertisement that directs them to a form, their information is directly transferred to your CRM system. You receive a notification when a new lead is created, as well as a welcome email from you.
Offerings
- CRM that is robust
- Nurturing leads automatically
- Marketing lead generation optimized
5. The Loanbright program
The Loanbright team has been providing mortgage lead solutions for over 20 years. They were inspired to create a powerful advertising and marketing engine that would attract new prospects every day. It works slightly differently, allowing loan officers to access the system and select the leads that best fit their needs. You don’t have to commit to long-term contracts with Loanbright because you pay by the month.
Offerings
- Display of real-time leads
- Pairing with local leads is essential
- There are no long-term commitments
6. The Mortgage Growth System
Despite being used for decades, marketing strategies in the mortgage industry are not as effective as they used to be. These outdated and ineffective strategies have caused many loan officers to struggle to generate leads. Through a combination of lead generation, cutting-edge technology, trained telemarketers, and individualized coaching, Mortgage Growth System helps lenders grow their businesses.
Offerings
- Leads that are 100% exclusive, live, qualified, and long-form
- All leads are segmented based on qualification ability through automation
- Automated follow-ups
- Three times a week one-on-one conversion rate coaching
- Booking your appointments can be handled by optional appointment setters
- Referral strategies to boost partner sales
- Leads with pre-approval guarantees
- Options available on a month-to-month basis