As a mortgage broker, you need leads like a fish needs water.
But let’s face it, just reeling in leads won’t get you anywhere.
You need to convert those leads into paying clients, and fast. That’s where calling your leads within an hour of their initial contact comes in handy.
In this blog post, we’ll dive into why it’s crucial to do so, and we’ll even toss in a few extra tips to help you turn those leads into loyal clients.
So let’s go fishing!
Why call your leads within an hour?
The secret to converting more leads into paying customers is all about timing – specifically, calling them back within an hour of their initial contact.
When you call a lead back quickly, you’re showing them that you’re on the ball and ready to do business. This creates an amazing first impression that can make all the difference in whether or not they choose to work with you over a competitor.
The longer you wait to reach out, the less likely they are to convert. In fact, a Harvard study has shown that leads contacted within the first hour are a whopping 7 times more likely to turn into customers compared to those contacted after 2 hours.
When a lead contacts you, they’re usually in the research phase of the buying cycle. This means that they’re actively looking for a solution to their problem and are likely to be more receptive to your sales pitch.
By calling them within an hour, you can capitalise on this moment of interest and increase your chances of converting them into a customer.
[ RELATED POST: Inbound vs outbound mortgage lead generation in 2023 ]
Six Helpful Lead Conversion Hacks for Mortgage Brokers
In addition to calling your leads within an hour, there are several other lead conversion hacks that can help you close more deals. Here are a few:
Personalise Your Communications
Make sure to personalise your communication with leads. Use their name, reference their inquiry, and offer specific information that’s relevant to their needs. This helps to establish trust and build rapport, increasing the likelihood of conversion.
Well, it’s like when you’re out at a party and someone comes up to you and says, “Hey, you look familiar, have we met before?” You’re immediately more engaged because you feel like they’re interested in getting to know you personally.
The same goes for personalised communication in mortgage lead conversion. When you tailor your message to the prospect’s individual needs and show that you care about their specific situation, they’re more likely to pay attention and engage in a conversation with you. And as we all know, a good conversation is the first step towards a successful conversion!
Provide Valuable Information
There are many different types of information that you can provide to your mortgage leads, depending on their specific needs and interests. For example, you could create a series of blog posts or articles that provide detailed explanations of the mortgage process, including the different types of loans available, how to apply for a mortgage, and what to expect during the closing process.
You could also create informative videos that cover similar topics, as well as provide tips and advice on how to improve credit scores, save for a down payment, and more. By offering this type of valuable content, you can position yourself as a knowledgeable and trustworthy resource that your potential clients can turn to for guidance and advice.
Another way to provide valuable information is to offer personalised mortgage rate quotes and other financial planning tools. By using sophisticated algorithms and advanced analytics, you can offer personalised quotes that are tailored to each individual lead’s specific financial situation, credit score, and other key factors.
This type of personalised information can be incredibly valuable for your leads, as it can help them to understand their mortgage options and make more informed decisions about their financial future. And by offering this type of personalised service, you can differentiate yourself from other mortgage brokers and lenders who may not offer this level of attention and expertise.
Offer your leads a special discount or promotion that’s only available for a short period of time. For example, you could offer a 0.25% reduction on interest rates for the first 100 customers who sign up within the next week. This creates a sense of urgency and incentivizes your leads to act quickly to take advantage of the offer.
Highlighting the limited availability of your services or products can also create a sense of urgency. For instance, you could mention that you only have a few mortgage slots available for the month or that you’re experiencing high demand for your services. This can make your leads feel that they need to act quickly to secure their spot or miss out on the opportunity altogether.
Don’t Bombard Your Leads with Follow Ups
Ah, the classic follow-up conundrum. You don’t want to be a pest, but you also don’t want your leads to forget about you faster than they forget their high school crush. The key here is to follow up strategically and with a personal touch.
First off, take the time to really understand your lead’s needs and interests. This could mean doing a bit of research on their business or personal goals, or simply asking them questions about what they’re looking for.
Once you have a good understanding of their needs, you can create a follow-up plan that’s tailored specifically to them. For example, if you know that your lead is interested in a particular type of mortgage, you could send them articles or resources related to that topic.
And if you really want to stand out from the pack, why not try sending them a personalised video message? This could be as simple as a quick selfie-style video that thanks them for their interest and reiterates your commitment to helping them find the right mortgage solution.
Remember, the key is to stay top-of-mind without being annoying. So be creative, be strategic, and don’t be afraid to inject a little personality into your follow-up plan. After all, nobody wants to do business with a boring robot.
Simplify the Process
Getting a mortgage shouldn’t feel like you need a degree in rocket science to understand it. That’s why it’s crucial to make the application process as easy and straightforward as possible. Remember, your potential clients aren’t experts in the mortgage industry, so don’t expect them to know all the jargon and technical terms that you use on a daily basis.
Instead, simplify your language and provide clear instructions, so they don’t have to second-guess what they’re supposed to do. You don’t want to leave them scratching their heads, wondering what “APR” or “LTV” means. Trust me, they’ll appreciate it if you can make the process easy for them.
After all, the easier you make it for them, the more likely they’ll be to choose your services. So, keep it simple, my friend!
Let’s face it, no one wants to sift through a disorganised mess of leads.
By using a CRM system, you can keep all your leads in one place, with notes and details on each one. It’s like having a personal assistant who never takes a day off (unless there’s a power outage).
Start Talking to Your Mortgage Leads ASAP
Whether you are a broker, lender or aggregator Wealthify’s ‘pay per lead’ model of lead generation is just what you need to fill your sales pipeline.
We generate your mortgage leads fresh, in ‘real time’ with proven digital campaigns on Google Facebook, Instagram & other ‘big tech’ platforms.
You only ‘pay per lead’. Everything is included in the price.
We’ve developed all the intellectual property (I.P) required for successful campaigns, which we licence to you. This means you avoid the upfront capital cost of building landing pages, ad creatives, lead magnets and funnels.
We then also completely manage the campaigns. All you need to do is call the leads, and convert them to appointments.
Check our MORTGAGE LEAD PACK or call us on 1300 41 00 81