I know, I know... Trulia is primarily a real estate specific
blog, so why would I choose to post a blog that talks about mortgage lead
generation? For starters, you'd be surprised with how many mortgage
professionals regularly visit, and post to Trulia.
It's a great platform, and excellent tool to reach a targeted demographic. Not
to mention, everything I post about mortgage lead generation applies to real
estate marketing as well - We're all targeting the same group of people. Those
who want to buy or sell a home.
Though my comments today will be short, they will be pointed. Mortgage lead
generation has changed. We've all watched it happen in fact... The market has
shifted, the refi boom ended, and people have been hesitant to take action.
As if these changes were not enough, the shopping habits of the average
consumer has changed as well. According to the National Association of
Realtors, in 2009, 90% of home buyers used the internet to help select a new
home. While I don't have official statistics in front of me, we can imagine
that a huge percentage of those home buyers also used the web to check on
mortgage rates, and compare loan officers.
Direct mail, magazine ads, cold calling... Traditional methods of mortgage lead
generation are not as effective as they once were. I'm not here to scream that
the sky is falling, and that these means of generating business are completely
dead. Traditional methods will always have their place when used correctly.
I know, I know... Trulia is primarily a real estate specific
blog, so why would I choose to post a blog that talks about mortgage lead
generation? For starters, you'd be surprised with how many mortgage
professionals regularly visit, and post to Trulia.
However, in 2010, the average consumer is
hit with (According to the most recent stats from the DMA) more than
3,000 advertising messages per day. That's right, more than 1.2 million per
year! Is it any wonder that interuption based advertising methods such as direct mail and
cold calls are not as effective as they once were?
This is advertising overload! Which brings me back to the original point I wanted
to make. If you want an effective marketing strategy, you're going to need to
alter your focus. Instead of lumping everyone into a single group to advertise
to in bulk, why not spend your time marketing to those who are already
interested?
Sounds impossible at first glance doesn't
it? I named this blog post "mortgage lead generation" for a
reason, and that's because despite appearances, it's very doable. There are
hundreds, if not thousands of prospects in your area taking the time
to search for mortgage rates, companies, brokers, and more. These people are
actively searching, and they're leaving bread crumb trails for savvy marketers
to follow.
I'll continue telling you about the process in my next post. Make it a great
week, and please check back in a few days to learn how to identify these hot
prospects.
You can skip ahead and read more on the topic of Mortgage Lead Generation here.