After speaking with thousands of Mortgage Professionals nationwide, I have found that the majority of Loan Officers get their business from 3 different channels. They are either relying on Realtors, buying shared leads, or utilizing platforms such as Google and/or Yelp. These avenues are great for generating business but they usually have one thing in common - they are somewhat inconsistent.
If you're looking to scale your business, the bottom line is that you need a system in place. Something that is truly consistent in delivering results month after month without having to depend on the methods mentioned above. Something that can help you determine the cost associated with acquiring new clientele. Once something of that nature is in place it becomes relatively easy to scale your Mortgage business to whatever extent you desire. It all boils down to simple math, let me explain...
For those of you who don't know me, I like to describe myself as an Online Marketing Strategist who specializes in helping Mortgage Professionals across the United States achieve their goals and take it to the next level. For this example I will use the last 3 months of data to help deliver the main point of this article.
Over the last 3 months I have helped deliver exactly 225,369 exclusive, live, long-form Home Buyer, Refi, & VA referrals to Loan Officers across the nation. I have created the Pie Chart below for visual reference.
As you can see in the diagram above, statistically 12% (near 15% with follow-up automation and/or CRM integration) of all leads go to application within the first 30-45 days of generation, 65% go into the Loan Officer's Pipeline (credit, buying time-frame, etc.), and 23% result in no progression (failed contact attempts, bad number, etc.).
Now, based off this system and the statistics provided... it's relatively easy to scale your business.
For the sake of example, let's say your goal is to close 10 deals a month or you want to make $30,000 (average deal being $3000 in commissions)... then you approximately need 168 leads. This will result in 20 App's signed ( with a rate of 50% converting to financing). Every market is different but once the CPL (cost per lead) is determined, you will know how much money to allocate to ad-spend. From there, the sky is the limit!
To summarize, it's essential to have a reliable system in place that helps determine your cost per client acquisition. That is... if you're looking to take your Mortgage Business to the next level.
What type of system do you have in place?
Here's a list of seven specific reasons that your business needs to strongly consider investing in Search Engine Optimization (SEO)
1. It still works - First and most importantly, the strategies used to improve online branding through SEO still work. Although data regarding natural traffic from Google was pulled relatively recently, the methods themselves remain sound. A lot of SEO case studies carried out post-Hummingbird Google Update by third-party companies can verify this. Joshua Guerra, CEO of marketing company BIZCOR states "As long as you are focusing on the overall user experience while carrying out SEO strategies, you will be rewarded with higher positioning and organic traffic."
2. It is not going to stop anytime soon - Based on the conclusive data, online search engine appear to be growing dramatically, it is not likely that SEO will cease to be efficient at any time in the foreseeable future. On some level, even audio and video searches now depend on keywords in the very same context as text-based content; this reassures the success of SEO strategies as long as the web exists.
3. It is affordable - Compared to the expenses associated with other forms of internet marketing such as PPC advertising, social networks marketing, or buying leads for an email marketing program, SEO provides one of the best ROIs in the industry. While PPC may own more profits and social networks might be more vital for your image, your organic SEO will be the bedrock of your company’s online existence.
4. Online search engines are getting more market shares - Somewhere between 80-90% of clients now analyze online evaluations prior to making a purchase, and this number is expected to increase rapidly. It will not be long before everyone is searching for items and services online. Do you want them to be able to locate your company, or not? Without organic SEO in place, people will have an extremely challenging time finding your business and instead will find your competition.
5. Rise of mobile bandwidth and local search optimization - Later this year, the quantity of traffic provided to mobile gadgets is anticipated to go far beyond that provided to standard desktop devices. With this remarkable surge in mobile use, an entire brand-new world of effective SEO strategies have already opened up for companies, such as local search optimization.
6. Not having a healthy content profile is damaging - With each and every upgrade to its search algorithm, Google and other search engines alter the methods when evaluating websites. Things which didn't exist a few years ago, such as social network indicators, now offer relatively high value in terms of their effect on the organic rankings. Not constructing a healthy content profile spread out months and years is possibly damaging to your company's image.
7. Your competitors are doing it - "Remember, SEO is an ongoing procedure," says Jason Bayless, Owner of BestSeoCompanies.com, a site which tracks and ranks the effectiveness and services of the country's leading SEO companies. "If you're not moving forward and improving your position, you're losing ground to a rival who is. That's a basic fact of how the procedure works." Do not let your competitors out maneuver you by ignoring this valuable service for your company.
Purchasing organic SEO is more vital now than ever in the past, regardless of the existing circumstances. Well-established companies require an effective SEO strategy in place to be an authority figure on the web; SEO is among the single most crucial parts of any organization's branding efforts and online existence.
-Kris Pattison (Owner of Grow Local SEO)
I have outlined some FREE and essential tips (see video below) on how to make your website convert and bring in more paying customers!
Grow Local SEO is growing fast and we want to thank you.
First and foremost, we would like to thank each of our clients for putting their trust in Grow Local SEO. We wouldn't be here without them! For those of you who want to find out more about our company, simply google "Hawaii SEO Company." We are now #1 in the State of Hawaii!
The Three Kinds of SEO Services
As you search around for SEO services, you may wonder exactly what sets one business's SEO services apart from another's. Companies which provide SEO services typically use different SEO philosophies, tools and methods for optimizing their customers' websites. These different techniques are normally termed as "hats" SEO services typically can be found in 3 various hats:
Black Hat SEO Services
Black Hat SEO is understood as SEO spamming. From the 2nd term itself, you might have a concept of exactly what this type of SEO service deals. Black Hat SEO is fixated creating sites that are targeted at controlling or deceiving search engines for much better website ranking. Black Hat SEO relies greatly on automation to come up with large numbers of sub-par pages and pulls links from other websites which are really irrelevant. Subsequently, this SEO approach usually gets poor or irrelevant online search engine result pages or SERP quality. What is useful with Black Hat SEO is that it can get your website on the top of online search engine rankings in a matter of a brief period of time. Nevertheless, this is not a wise SEO services strategy in terms of web style point of view. Worse, once online search engine find out that your website reviles their results; your website may and will run the danger of getting banned or crashing on view. So if you wish to get on top of online search engine listings in a matter of days and want to take the risk of violating some guidelines, Black Hat SEO services will do the trick for you.
White Hat SEO Services
For each black, there is always a white. The same is real for SEO services. White Hat SEO services, on the other hand, depends on the advantages of putting in relevant and quality content in addition to efficient marketing methods to place sites on top of online search engine rankings. SEO providers that offer White Hat SEO will focus mostly on your website's content. White Hat SEO companies will assist you in developing content that will attract people, and not get you into trouble. You ought to understand that unqiue material is an essential aspect in SEO building (if not the most important). With great content, White Hat SEO services will have the ability to get you more inbound links from other appropriate sites. White Hat SEO is definitly considered to be the better SEO tool. It will not put your website in the threat of getting blacklisted and does not violate any online search engine SEO standards. Most notably, visitors who check your site will most likely be converted quickly with your great material.
Grey Hat SEO Services
Grey Hat SEO is mid-way between the two tools above and is all about the balance between risk and benefit. There are in fact a broad number of SEO services solutions categorized under this. Some Grey Hat SEO services may have the tendency to utilize more suspicious methods and take even larger threats to produce fast and high search engine rankings. While many Gray Hat SEO services approaches comply with search engine standards, others might put you at danger. If you go with SEO services using Grey Hat, be sure exactly what you are subjecting your website to.
Which hat should you choose?
According to significant search engines such as Google, White Hat helps SEO; Black Hat is bad SEO, while Grey Hat is for the most part, dicey. Those using Black Hat SEO services may inform you that White Hat is too inadequate and Grey Hat may be safe but not as efficient. Those who prefer Grey Hat may declare that White Hat SEO Services is less efficient when no Grey or Black Hats are included. On the other hand. white Hat SEO companies might tell you that Black Hat SEO users are cheaters and those supplying Grey Hat are quitters.
Through all these differing viewpoints, understand that it is still your obligation to choose the ideal kind of SEO services that you want. It is your goals that will identify which kind of hat you should wear. From my viewpoint, White Hat is better and more expensive but far more reliable if you are concerned about violating Google's TOS.