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Lead Generation Online Is A Hot Marketfrom: Jemma Tipping
The lead generation market is becoming more and more
competitive, mortgage advisers and brokers are competing to gain
new business in the ailing property market of 2008. The internet
has had a revolutionary impact on the mortgage lead market over
the past couple of years, making it a sophisticated and
potentially very profitable business, if it is conducted
cleverly and correctly.
A great deal of business is carried out online, and it seems the
key to successful lead generation relies upon clever marketing
across the internet. These marketing techniques will generate
the leads in the long term, so they need to not only initially
draw the customer in, but extract the required information as
easily and quickly as possible.
The internet has made it easy for consumers to quickly compare
products online, meaning that people will generally research
their options this way. If the lead is passed quickly and
efficiently on to the broker or adviser while it is 'hot' it is
more likely to convert into a sale. Mortgage leads unfortunately
'cool down' very quickly and if the customer can be contacted
while still browsing for deals a sale is much more likely.
External factors greatly influence the mortgage leads market,
the boom of early 2007 is well and truly over and 2008 had
brought with it a decline in property prices and demand for new
mortgages with better terms and lower interest rates. Alongside
this trend the credit crunch has, however, made it harder for
people to take mortgages out, which is reflecting negatively on
the mortgage lead industry.
A broker needs to ensure they properly check out a lead
generation company before getting tied in, as there are some
less than reputable companies around.
However, research by E-consultancy and Clash-Media revealed that
less than half of companies effectively use online lead
generation to improve and expand their business. 47% admitted
that they do not use lead generation as a way of increasing
The survey was based on 400 marketers and revealed that 61% of
respondents use the press to generate consumer leads. These
methods are no longer as popular, or as fruitful, as they once
were and it's time for companies to get up to scratch with the
way online trading works or lose money and business to other
more technology focussed companies.
Only Leads is a relatively new lead generation company, from
clever technology it has managed to keep up with the competition
and is competing with long established companies.
The company is also a fan of the aforementioned clever marketing
techniques, offering a 25% for all new business in January and
February as well as the unique promise that any useless leads
will be refunded, that is if the contact details supplied are
not correct or the customer is not looking for a mortgage.
Only Leads offers its brokers the opportunity to manager their
accounts 365 days a year, and offer a pause function on the
account which is free for any periods customers do not wish to
receive leads. Brokers are automatically invoiced four days
after a lead is sent to them, so they only pay for the business
It seems Only Leads is keen to keep ahead of the competition and
using clever marketing techniques is perhaps the smart way to do
this. Lead generators need to adapt to the ever-changing market
to keep up with the property market, although brokers also need
to keep on top of their game to convert the leads they buy into
Banks are also beginning to branch into the lead generation
market, proving strong competition for the existing companies as
they increase advertising rates and lead prices.
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