Want to get more leads for your mortgage brokerage?
That’s exactly what we are going to discuss today.
Frankly, when it comes to marketing, the mortgage industry is way behind the curve – and that’s good news for you!
We will show you how you can take some of the most effective digital marketing strategies and then use them to explode your mortgage lead generation… And leave your competitors in the dust!
So are you ready to take your lead generation to the next level?
#1 Create a Value Ladder Sales Funnel
Here at ClickFunnels, we believe that the most effective way to sell online is the Value Ladder sales funnel.
Our co-founder Russell Brunson, the creator of the Value Ladder model, has used it to take ClickFunnels from zero to $100M+ in annual revenue…
And you can use it to grow your mortgage business faster than you ever thought possible!
Why Having a Business Website Is Not Enough
Okay, so before we get into the Value Ladder, let’s talk about websites. Why simply having a mortgage brokerage website isn’t enough?
There’s a principle in sales that you need to know to understand this:
“A confused mind always says no”.
Now, you might be thinking, “But my website isn’t confusing!”
However, traditional business websites are confusing by nature, since they are a maze of links that the potential customer has to navigate themselves.
So what happens is that the potential customer arrives on your website and starts randomly clicking around.
They check out your About page, read a blog post or two, see how much you are charging for your services…And then they leave, possibly to never come back again.
How does any of this help your business?
Meanwhile, a sales funnel is by definition designed to guide the potential customer towards a sale, one step at a time.
When they arrive on your landing page, you offer them your lead magnet. There’s nothing confusing about it. It’s a yes or no decision.
Then you offer them a paid product or service. Again, nothing confusing about it, a yes or no decision.
You might then offer them another product, and another one, and another one… Until they have gone through your entire sales funnel.
Note that at any given point in your sales funnel, you are presenting them with a yes or no decision, which makes them more likely to say yes because they only have to choose between two options.
So is it any wonder that sales funnels convert better than websites?
In fact, according to our data:
On average, a sales funnel generates 6x more sales than a website.
Honestly, we are continuously baffled as to why people are still using websites, but that is a great opportunity for you – you can get ahead of the competition by using a sales funnel instead.
Meet the Value Ladder Sales Funnel
The Value Ladder sales funnel has four stages:
- Bait. You offer the potential customer a lead magnet in exchange for their email address.
(This is also known as the lead generation funnel – it serves as an entryway into your sales funnel).
- Frontend. You offer the potential customer your least expensive and least valuable product.
- Middle. You offer the customer a more expensive and more valuable product.
- Backend. You offer the customer your most expensive and most valuable product.
Ideally, there’s also some sort of a continuity program, meaning a subscription that generates recurring revenue.
The reason why the Value Ladder sales funnel works so well is that it allows you to:
- Start the relationship with the potential customer by offering free value.
- Nurture that relationship by continuing to provide free value.
- Build trust by providing progressively more paid value at each stage.
Here’s how Russell explains it:
How To Build a Value Ladder Sales Funnel for a Mortgage Brokerage
We understand that the Value Ladder graph above might seem overwhelming.
A lead magnet, three products, a subscription program… What if you just want to help people get mortgages??
Fortunately, you can create a Value Ladder sales funnel with just the lead magnet and one product or service, which in your case is brokering a mortgage.
Your sales funnel would look like this:
Even a basic Value Ladder sales funnel like that would put you lightyears ahead of other mortgage brokers who are still relying on their websites for lead generation.
Here are the three key things that you need:
#1 A Lead Magnet
This is a freebie that you offer the potential customer in exchange for their email address. It can be anything that they can either download to their device or access online. Ebooks and webinars are probably the most popular types of lead magnets.
What’s important is that your lead magnet offers a solution to a problem that your potential customer is struggling with.
In this case, you might want to consider creating a guide on choosing the right mortgage, possibly for a specific subset of mortgage seekers (e.g. first-time buyers, the self-employed, etc.).
#2 A Lead Magnet Landing Page
A lead magnet landing page is a “sales” page of your lead magnet – it’s your opportunity to persuade the potential customer to get it.
Here’s our comprehensive guide to creating a lead magnet landing page that converts:
#3 A Sales Email Sequence
Once you have the potential customer’s email address, you should send them an automated email sequence in which you pitch your mortgage brokerage services.
We have a 5 Day Challenge where Russell walks you through building your first sales funnel. It’s completely free. More info at the end of the article.
#2 Use Paid Advertising to Drive Traffic to Your Sales Funnel
Once you have your sales funnel all set up and ready to go, you should test it with paid traffic to see how well it works.
Simply create a Facebook ad campaign, set a small daily budget, start running ads, then watch what happens.
Here’s what you should focus on:
- Does your lead generation funnel convert – are people signing up for your email list?
- Does your sales funnel convert – are people hiring you to help them with getting a mortgage?
- Is that ad campaign profitable – are you in the black after you deduct all expenses from your revenue?
If the answer to all those questions is yes, then you can start scaling your advertising campaign by gradually increasing its daily budget.
You might also want to start optimizing your sales funnel.
Take a look at the conversion rates at each stage of the funnel and see what you can do to improve them.
This can help you 2x, 5x, or even 10x your sales funnel profits.
Here’s how Russell explains it:
Once you have optimized your sales funnel, start experimenting with paid ads on LinkedIn and Google Search (local ads might be worth trying).
Keep in mind that paid advertising is the most straightforward way to get leads, so you want to get that dialed in before you move on to other strategies that we discuss in this article.
#3 Build a Niche Mortgage Advice Website
Okay, so now you are consistently generating leads with paid advertising, but the problem is that each lead magnet landing page visitor costs you money.
That’s why you want to build traffic-generating assets which will allow you to get traffic without having to pay for every visitor.
One such asset could be a niche website that provides mortgage advice to a specific subset of mortgage seekers.
Here’s how to build one:
- Do keyword research to identify keywords that your potential customers are searching for.
- Create SEO content that is designed to rank on the first page of Google for those keywords.
- Build backlinks to that content by getting other websites to link to your website.
Once you start getting organic search traffic from Google, you should optimize your website for lead generation.
Here’s our comprehensive guide on the subject:
Note that search engine optimization (SEO) is a long game, so you should be prepared to invest at least 12 months of work in your website before you start expecting results.
#4 Build a Mortgage Advice YouTube Channel
YouTube is the most popular video hosting platform in the world that has over 2.2 billion users worldwide.
It’s also the world’s second-largest search engine where people go to search for anything from how to cook pasta to how to get a mortgage.
You can build a YouTube channel by making videos that answer frequently asked questions about mortgages.
A mortgage broker named Alex Kerr has a YouTube channel with 13.3k subscribers, his most popular video being this one:
Now, 13.3k subscribers might not seem like much by YouTube celebrity standards, but it’s 13,300+ people that are interested in what he has to say about mortgages.
Even a small YouTube channel like that can be a powerful way to drive traffic to your lead magnet landing page if you are proactive about promoting your lead magnet.
A recent survey has found that 57% of US consumers listen to podcasts.
This means that sponsoring relevant podcasts might be a way to reach potential customers.
You might want to experiment with podcast ads in the personal finance and real estate investment niches.
However, instead of promoting your mortgage services, promote your lead magnet by inviting people to check it out.
Note that the podcast doesn’t have to be super popular for the ads to be effective, what matters is that you pick podcasts that your potential customers listen to.
Also, start by buying an ad spot for one episode to test things, then if you get leads that way you can buy more spots.
#6 Write a Mortgage Advice Book
You can significantly boost your credibility in the eyes of your potential customers by publishing a book about mortgages.
Again, you want to target a specific subset of mortgage seekers, such as first-time buyers, the self-employed, investors, etc.
You can either write the book yourself or hire a ghostwriter to do it for you (you can find them on UpWork).
Once you have the manuscript, you can self-publish it on Amazon through Amazon KDP (for the Kindle version) and CreateSpace programs (for the paperback).
You can then use that book as a lead magnet. It’s not just some free ebook, it’s a real book that costs real money on Amazon. This makes it much more appealing.
And if you want to sell a decent number of copies, you will have to promote your book relentlessly, which might be worth it if you have the stamina for it.
However, the aim here isn’t to make money from the book, although that would be nice, it’s to use the “author” status to make yourself look like a trustworthy expert on mortgages.
There’s also something to be said about building a reputation in your local community as a trusted mortgage expert.
You can do that by going to real estate meetups, sharing your knowledge, and helping people out for free where you can.
Don’t try to sell anyone your services at these meetups, simply provide value for free without expecting anything in return.
This will help you build a solid personal network in the real estate industry.
And when these people or someone they know need a mortgage, who will be the first person that comes to their minds?
Want Russell To Show You How To Build Your First Sales Funnel?
Let’s keep it real:
Building a sales funnel from scratch can seem like a daunting task.
That’s why we created our 5 Day Challenge where Russell walks you through it step-by-step.
You will learn how to:
- Generate unlimited leads.
- Create your first lead magnet.
- Build your first sales funnel.
- Create a simple 6-email follow-up sequence.
- And launch your funnel!
…in just five days.
So don’t hesitate.