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Marketing Service Not Product - Mortgage Broker

by jordorules
4 replies
Hello Fellow Warriors,

I have a unique situation of not only being an internet marketer but I'm also a mortgage broker as my primary profession and am wondering if any other warriors have a similar situation where they were able to apply their knowledge to bringing in more traffic to their website for their service based business? I would assume it's all about lead capture with a service instead of a product being the only difference. Any tips or tricks you know of I'd be a very appreciative to hear. Are conversion rates about the same as affiliate marketing or higher? I would think you'd be looking at 0.5% (1/200) conversion but maybe that's too low. I'm building a website right now so I'm curious to know. Thanks J
#broker #marketing #mortgage #product #service
  • Profile picture of the author RonBartling
    I wouldn't say your situation is unique. There are quite a few people on here who are trying to use what they learn here to drive traffic for their own service business.

    Conversion rates are driven by multiple factors. Untargeted traffic will convert really low. And what are you defining as a conversion? Writing a new mortgage from a lead or a request for more information? I'd go with the later as you can begin to build ratios. Ideally you'll track traffic source to requests all the way through to ultimate sale. That way you'll know where to focus your traffic generation efforts.
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    • Profile picture of the author KevinDahlberg
      I'm in the same boat you are in. My "real job" is running a DJ business. Up to this point, every single thing I have done is through referrals. I've been trying to leverage my online presence to get more customers.

      2 things that I have tried were to include a contact form on the contact page of my website and to run a few Facebook ads. I have gotten a couple leads through the contact form, and I have gotten a few eyeballs on my page with the Facebook ads.

      Other things that I have done is join local FB groups related to my niche (there is one for brides and grooms in my area). They want me to pay to promote my business, which I'm not sure of the reward yet. Instead, I message people on Facebook directly when they are asking for a DJ.

      Besides online marketing, I am doing a bunch of offline marketing. I'm doing a few bridal shows, and I have a gift certificate that I send to silent auctions in my area for my service.

      I have a lot of work yet to do. I know I could probably put together a free guide and put an option page on my website to get a few more leads. I also need to update the copy on my website.

      Good luck applying your IM stuff to your mortgage business. I feel that knowing what we do definitely gives us a leg up over our competition.
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      • Profile picture of the author jordorules
        Originally Posted by KevinDahlberg View Post

        I feel that knowing what we do definitely gives us a leg up over our competition.
        Thanks KevinDahlberg. I agree and feel that most of the skills are transferable to our service based business. I was thinking I'd ask anyway and see if there was something I was over looking.

        J
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        "Whether you believe you can or can't ... You're right." - Henry Ford, CEO, Ford Motor Company

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    • Profile picture of the author jordorules
      Originally Posted by RonBartling View Post

      And what are you defining as a conversion? Writing a new mortgage from a lead or a request for more information?
      Thanks RonBartling. Yes I should have specified lead or sale. I guess I would break it down from lead and then further break it down from there how many leads translated into sales.

      J
      Signature

      "Whether you believe you can or can't ... You're right." - Henry Ford, CEO, Ford Motor Company

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