Nathan Rufty is a mortgage coach and trainer with Mortgage
Marketing Pros, a company that works with loan officers to
develop marketing plans that increase leads and closed loans.
Mortgage Marketing Pros was created by a producing loan
officer and a master marketer to teach mortgage professionals
how to create their own businesses without relying so much
on one or two streams that can dry up without warning.
For more information, visit mortgagemarketingpros.com.
Reach Rufty at (909) 731-1218.
Go Social to Get Local Leads
Online marketing requires more time and effort than money
By Nathan Rufty
There are so many marketing avenues that mortgage companies and loan originators can spend their time, energy and money on to increase their purchase and refinance
business that trying to figure out the best method can
be a challenge.
The way to grab attention and generate business
has changed over the years. It will continue to develop
in the future, so you need to change with the times
and get on board with the latest methods.
Break the cycle of using old-school marketing
methods like cold calling, radio and print media.
Today, you need to go direct — to where consumers
are — and that is online.
Leads versus closings
Everyone can get leads. The goal is to increase closings,
so spending time and money on leads that don’t result
in closed loans is a waste of resources. It is important
to monitor the time and effort you spend to generate
leads to ensure a profitable rate of return.
Plenty of avenues exist online where you can spend
money to generate calls. Take pay-per-click ads on
Google, You Tube, Facebook, Instagram and other social
media sites, for example. These can generate leads at
an affordable cost or be a waste of good money depending on the filters you set, which determine who
sees the ads.
Unfortunately, too many loan originators throw
money at the problem thinking it will cure their low
lead count, but this is the wrong direction to take.
Spending money can cure the immediate issue — your
emotional need to get more leads now — but that will
only leave you even more frustrated and disappointed
Generating a steady stream of quality online leads
requires setting goals and establishing a strategy to
reach those goals. This will allow you to see where you
are spending your time and money and help to ensure
you aren’t throwing money at the problem unwisely.
Before spending any money to generate leads, you
need to make sure you are going to deliver the right
messages to consumers. Do not distort your message
with services you can’t support or you will end up
with leads that don’t actually want to do business with
you, because they responded based on the wrong
Online marketing methods
It seems plenty of companies today are trying to sell
their proven system to increase leads. Of course, they
never call and say, “Do you have a moment to discuss
how to increase your closings and, in turn, increase
your monthly income?”
The systems these companies are trying to sell are
an added expense and are generally slow to generate
leads. Instead, let’s look at some methods for gener-
ating leads and closings on your own that cost little
to no money, and don’t have the added expense of
paying someone else to do it.
The pay-per-click, or PPC, method mentioned earlier
searches for consumers who are browsing social media
and have expressed some interest in home loans
through their online activity. This may be a low interest on their part, however. It’s best to look for qualified
buyers and refinance borrowers who are serious about
a home loan. Still, even if these leads may be mostly
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