How to Buy Internet Leads

If you have never bought Internet leads or think you should be buying smarter it can be very confusing. There are numerous choices with a lot of differences. However, with a disciplined process you can make a very profitable choice for your business.

Start with your products and guidelines

It is critical that you understand the strengths and weaknesses of your product offerings. It is through this analysis that you will identify market opportunities and markets you don't waste your marketing dollars on. No other marketing channel gives you the opportunity to precisely target and capture only customers that you can help.

Build Your Target Prospect Profiles

These profiles will become the seeds of your Internet lead filters, a unique advantage of Internet lead generation. You can select consumer inquiries that very specifically match the products you can offer. Here are some of the characteristics that you should consider in your profile:

  • State

  • Credit scores/grades

  • CLTV/LTV

  • Loan amount

  • Loan type

  • Property/occupancy type

Review Your Past Loan Production

In addition, to reviewing your product matrices for what you can fund look at your last few months of production. You may find out that you have some very specific sweet spots in what you actually fund very consistently—filter for these premium lead opportunities.

Build Your Internet Salesforce

This is a critical part of success with Internet leads. Internet lead generation produces a very unique marketing channel, which will compel a new sales process to be successful. These are the key elements of a successful Internet sales force:

  • Consistent and disciplined sales process

  • Centralized, call center style control of production and key performance indicators

  • Specialized team structures with lead workflows that leverage these expert teams

  • Delineation between telemarketing or contact teams and sales teams

  • Intense focus on maximizing motivation and preventing burn out

Determining Your Lead Buying Budget

This step is absolutely critical to your overall success. It should be your business plan for your new Internet mortgage originations platform. As such, it should include the typical elements of a business plan:

  • Determine if some or all of your loan officers will be getting Internet leads
  • Who will be paying for the leads?
  • Do you need to adjust your splits?
  • How many new leads per day should each eligible loan officer get? (We suggest 3-5 max)
  • How large of a pipeline should a loan officer be able to manage? (We suggest 100-150 max)
  • What is your product mix?
  • What States are you licensed in?
  • What do you make on your average deal?
  • Will you work weekends and all time zones?

Time to Pick a Lead Partner

Now you have all of the answers. And you can crunch the numbers to see what it takes to make money. All that is left is to review top lead providers, their performance, their marketing mix, and their price structure to find the right fit. We can help.