The news is out ... the first four months of 2014 have shown that the demand for home loans has plummeted, mortgage rates are increasing, Freddie Mac and Fannie Mae are being overhauled, and Wells Fargo cut 700 mortgage jobs. In the midst of all this gloom, there is a way to for you to shine…
As is important with all types of marketing your first want to make sure you comply with the regulations of the Federal Trade Commission (FTC) and Customer Financial Protection Bureau (CFPB) as well as any internal company policies that are in place. The rules are changing, so staying abreast of these regulations is imperative. Read the guidelines available on the Federal Trade Commission (FTC) and CFPB Web sites, work with a reputable marking firm who has experience with the types of marketing you are doing, take advantage of your compliance department, and most importantly, discuss compliance with your marketing firm. While it is not up to the marketing firm to ensure that you follow the rules, a quality firm will encourage and support you through the compliance and marketing process.
The hot product of the season is Live Transfer Leads. The number of professionals using live transfers is rising, and with good results. The benefits of using these leads are illustrated by the clarity and ease of tracking and calculating your ROI, close ratios and customer costs.
Live Transfer Leads provide you with pre-screened, qualified candidates. And you pay per call. Pre-qualified candidates mean receiving calls from leads who are already interested in what you have to offer. Furthermore, paying per call lends itself to easier tracking and calculations of your close ratio, so you really know the cost of each customer. So, perhaps it’s your turn to shine this summer!
TagQuest Inc. Client Spotlight … Matt Flores
Each month, we like to talk with our clients and find out how their campaigns are going. Here is what we heard from one of our mortgage professionals in California.
Product: Live Transfer Leads
One-week snapshot: The below numbers were taken from a Monday-Friday.
►Forty-nine total calls
►Six applications completed
►Twelve more working leads
►Ten others that were pitched loans
Highlights of the campaign that worked well for Mr. Flores? “Technology, integration and leadership,” Mr. Flores said.
Medford, Ore.-based TagQuest is a full-service marketing firm created specifically for the ever-changing business world. TagQuest assists companies with their direct marketing, advertising and branding needs, and knows what it takes to generate quality customers and, most importantly, how to retain those customers for years to come. TagQuest brings forth a unique opportunity to utilize our experience and expertise in varying consumer sales and marketing environments. For more information, call (866) 376-5540 or visit Tagquest.com.
This article originally appeared in the May 2014 edition of National Mortgage Professional Magazine.