Automation of Mortgage Leads
Automation to get mortgage leads will help you convert more business. This will really help you focus your time on who you can actually work with. We have response rate in some of our different campaigns. We got 71%, that’s a very high response rate down to our average of between 52 and 48%.
So using automation helps you just get that initial contact. You can focus your time on the people, you can actually help. More contact attempts leads to more conversions, right? Most people aren’t going to contact on the first attempt. I think it’s at the sixth attempt when you actually start having a reliable, fairly high amount of conversions.
Let’s just look at a hypothetical situation where you’re following up manually with your leads everyday. Not using any automation. If your process for following up with leads is to call them one time, text and email them once a day.
Generating Mortgage Leads
On the first day you have five leads come through your online marketing, whether it’s through Facebook, YouTube, or however you’re generating your business, you have to do five calls, texts, and emails, pretty easy. The next day, it’s 10, the next day 15, then 20, then 25, then 30, all of a sudden, within one week of you generating five leads a day, you’re having to text 30 people, email 30 people and call 30 people every day. And that number just continues to grow.
As you continue to do your outreach to reach the number of people you actually need in order to convert, you will have a big business and really make an impact on what you’re doing. So using automation allows you to focus your effort on the two most important groups of people. Those who respond positively saying yes, I’d love to get some more information.
“How can you help me?”
“Can we talk on at Tuesday at three o’clock?”
Those who haven’t responded yet? Well, a no response to your automation is super valuable. It allows you to save your time and energy. You don’t have to reach out to that person anymore. They’ve already told you they’re not interested. They don’t want your help right now and that’s fine. Let them sit in your database. And we’re going to talk about how you can convert them into business down the road. But when it comes to automation, your initial goal is to get people to respond. You engage them on a level that is based on response, obviously. So if they say they want help, then you help them.
If they say they don’t, then you don’t write or you can re-engage them, as you like. Now, using automation really allows you to save your time by splitting that group into three people.
- Those who haven’t responded yet.
- You have people who say yes and want help
- And then, people who say no, then you don’t have to worry about your time wasting there.
So all of a sudden, your contact, if you’re having a 50% response rate, half of your people are responding and you’re going to know immediately, “Yes or no”. If that’s worth your time to follow up with those people, in my experience around 20% of responses are positive. So it allows you to really weed out like 20 to 30% of your entire lead database, as people who say no, and you can save your time and energy that way.