The Power of Lead Generation

Tapping into quality leads may at times frustrate and perplex you, but it is crucial to not only surviving but thriving as a mortgage broker.

Regardless of where your lead comes from, it is useless unless that lead is converted into a client.  Of course there will always be the tyre kickers, and the loans that are impossible to write – legally and ethically that is!  However, it is important that you treat every lead as equally important and ensure the potential client hears that loud and clear.  You never know if the 'dud' lead becomes a great deal in the future, or because of your attitude and professionalism they may refer friends and family - you want to be the one that first comes to mind when they need the services of a broker. 

How though can you increase your leads?  

To follow are six ways you can obtain leads that you may be able to improve or newly implement in your business to do just that.

 

Client for life

The most obvious and best way to increase your leads is by having a 'client for life' strategy...how many times have we heard that!  Leads that come by way of word of mouth from existing clients are the best you will get.  By providing a professional service initially and continually, you are giving your clients reason to confidently and happily advertise your business and refer others to you.  Make sure you thank your clients for their referrals, and at appropriate times don't be shy about asking for referrals.  If you concentrate on making your service outstanding your clients will sing your praises and you will have the reward of seeing your leads increase.  Watch how one can become a thousand!

 

Networking options

Another area that is not difficult and is very rewarding is networking – build strong business relationships with others.  It is important though that you don't overdo it.  You are better off concentrating on areas that are related, and choose a few who you feel compliment your business strategy, not conflict with it.  Get to know the person and how they run their business before you make any suggestions to start a referral network – obviously you want to feel comfortable sending your clients to them...it is not a one way street!

There are many networking options – the oldest is becoming a member of a network group and attend meetings – often breakfast, lunch or another organised event.... or the newest – the online network groups like LinkedIn.  Don't negate individual relationships you may already have – who is your accountant, financial planner, insurance broker, real estate agent?  Were you happy with their service? 

Whichever method you feel more comfortable with, by nurturing the relationship you form, giving them confidence in your abilities and by showing them their business is important to you also, you will get all the referrals you need...then do what you do best and create another client for life and you will have yet another happy client to continue referring more leads... happy days!

 

Purchasing leads

This is another way many brokers have boosted their business.  This next option can be very effective, but extreme scrutiny is required.  If you carefully look at your options and ensure you know exactly what you are purchasing – qualified or cold leads, it can be a very rewarding and effective way of increasing your database so you can again work on generating repeat and referral opportunities.  Clearly you want to make sure the income you generate from that client is more than the amount you paid for the lead. .. Otherwise it is not worthwhile.  A word of caution is to be very wary of any company that demands an upfront charge. 

Do some research on the companies you are thinking of using, even ask other brokers for any experiences they may have had...good or bad.

The same can be said for buying a trail book.  Make sure you know exactly what you are doing, and ensure the price you pay will be less that the revenue you are confident you will be able to raise.

 

Social Media for your business

Social media is leaving many of us behind in a daze of bewilderment!  Where to start...FaceBook, Twitter, Pinterest, LinkedIn.... the list goes on..... And on! 

Although it can be very overwhelming, it is vital that you make a concerted effort to keep up – at least to some degree.  If you don't, you will be left behind, and trying to catch up will be even more of a battle.  Share interesting and relevant information, make sure your clients will want to follow you – make it rewarding for them. 

Whatever you do, be yourself.  Your clients will look to identify with you and see you as genuine – some have even found it beneficial to have a mix of business and personal posts.  Think about what you feel will work for you and your clients.

Be prepared to invest some time and effort into not only setting up but maintaining your social networks.  If you are not convinced as to the effectiveness of these marketing masters, do some research and get some insight into just how big and popular they really are.  Ask other brokers or professionals in related fields how they have used them and if they feel they have benefited. 

I'm sure you will see that this is one powerful way to generate leads.... get busy!

 

 

 

Make sure you have a brilliant web site!  

PLEASE no DIY dodgy, unprofessional mock ups that look like a kindergarten child created.... oh yes; sadly there are plenty of those out there! 

Take a look at other web sites and see what is being created – how do other brokers present themselves online....if you saw your website would you be confident in using your services – does your business present itself professionally?  Whether you like it or not, with each generation the internet is playing a greater role in lead generation. 

It is important that you not only have a web site that looks professional and perhaps provides information, but make sure you have it set up to generate leads effectively.  The new kids on the block will expect you to have a strong online presence....make sure you have one.

 

 

Make sure you are visible on other online media. 

Speaking of having a strong online presence, number six is underlining and highlighting this a little stronger.  It is of very little value if your web site appears on page forty two of a Google search... unless of course someone types in your domain name – unlikely!  Whether it is a business directory, forum, blog or any other opportunity that will increase your chances of being seen on the web, this will naturally increase your leads, and be a great way of exposing your business.

 

All of these lead generating formulas are effective, but again only if you continually implement the first vital step... yes here it is again, 'client for life'! 

Do your job well, apply the above strategies, and enjoy the reward of watching your leads snowball, and your business thrive.

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Disclaimer : While we have taken all reasonable care in producing the information contained on this site, we do not promise that it contains all the information you need to answer all your questions. This document is for information purposes only, and must not be relied upon as a substitute for professional services or legal advice. Mortgage Broker.com.au does not guarantee the accuracy of information provided by third parties linked to this site.

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