Finding the Best Mortgage Lead Provider for your Business
A mortgage lead supplier can be a valuable supplement to your business, keeping your lead pipeline full during difficult times. However, it’s important that you find the right match of a provider to get the greatest value for your dollar. Consider these points as you search for a suitable mortgage lead partner.
Pick a Provider Style
Mortgage lead providers vary in their approach. Some use their own resources and marketing leverage to generate targeted leads. Others are clearinghouses that purchase leads from other companies and repackage them in large quantities for resale. Leads may be exclusive, but if so, you will pay extra for that privilege.
Choose the style of provider that works best for you but keep this in mind – anyone that you add to the mortgage lead supply chain must provide value for their presence.
Do Due Diligence
Research your potential mortgage lead provider before entering into any contract. Use a combination of networking, online research, Better Business Bureau ratings, and good old-fashioned detective work.
Online research can give you a good starting point, but it’s difficult to assess the accuracy of these opinions, either good or bad. Check with industry sources that you trust to get the inside scoop. Rank the providers from most to least promising, and then see if your initial contact matches the expectations you have based on your background work.
Stay Within Your Budget
Can you afford a significant deposit or a large minimum purchase requirement? If so, does it appear that the lead provider will supply value for the extra expense, such as exclusive leads or a supplementary lead management system?
You will find a wide variety of mortgage lead providers available at different levels of pricing. Start by defining an acceptable budget for a lead provider. Select several provider options within your budget, keeping in mind your style preferences and research results listed above – and then select the provider that gives you more value for your dollar. If you’re transparent with your budgetary constraints, a good lead provider will help customize your campaigns to maximize your returns.
Investigate Customer Service
Include customer service research in your due diligence, and take note of your interactions with the mortgage lead provider, all the way through making your first purchase of leads. Good lead providers will value customer service, because they know that’s the key to satisfied clients and repeat business.
Your customers expect excellent service from your business, and will not put up with substandard efforts. Why should you expect any less from your mortgage lead supplier?
Manage Those Leads
Finally, consider the follow-up on the leads that you purchased. Does your provider offer a lead management system as part of their services? If not, can you handle the leads that you purchased on your own? Does your conversion rate or the number of contacts required to produce a sale suggest that you need lead management assistance?
Be realistic when assessing your needs and capabilities. It will do you no good to purchase mortgage leads if you allow the opportunities to slip away through poor lead management. Call (310) 209-8600 to see why so many businesses rely on LeadPoint for lead management services.
