Thursday, January 29, 2009

Learning the Real Thing about Mortgage Internet Leads

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When the Internet was first introduced, everything was poised to change. It became the great equalizer and the great bridge; no longer are there barriers like distances and even languages when it comes to the Internet. As a result of this, businesses are now porting their trade over to the Internet, in the hopes of gaining more and more customers all over the world.

Mortgage providers are not an exception. Mortgage lenders are now modifying their marketing strategies to accommodate the influx of Internet-based leads. These leads are simply people who are searching for good mortgage loan deals by using the Internet tools that are available to them.

Mortgage internet leads are theoretically superior to other kinds of leads. This is because they have the necessary interest to make it easy to close a deal. Moreover, they are easy to contact. Lead contact information is readily available to people offering newsletters on these leads’ subjects of interest.

However, theory is not always similar to practice. There are a lot of reasons why most marketers, especially lenders, fail to close a deal or turn leads into customers, or why Internet leads should not be relied upon. In fact, a lot of money has been spent on Internet lead generation and acquisition by many online-based lenders, but so little returns have been made. Internet leads, though promising, have their own set of disadvantages as well.

Disadvantages of Internet Leads

Here are just some of the disadvantages in using Internet leads for your business:

Not all leads are qualified to get a loan. One disadvantage on using Internet leads is that not all leads are qualified to be extended a loan. There are some rotten apples mixed with the fresh ones, so they say. Out of a certain number of people who searched for Internet loans, some of them are people who are looking for loans that are extended to people with bad credit. These are good if you are offering loans for people that have very low credit score. If you don’t, these unqualified leads are simply a waste of your time and money.

Internet leads can be recycled. There are some companies that sell so-called qualified leads. Although they are interested, you have no idea of finding out if these leads that you have bought are not “recycled.” When a lead is recycled, it means that such a lead has been contacted already by the person who sold them to you. It is akin to being introduced to a girl and courting her without knowing that that girl is already committed.

There are people playing pranks on the Internet. We all know that there are a lot of people who frequent the Internet. These people may have stumbled across one site offering a freebie in exchange for signing to up a loan newsletter, which, in theory, makes them qualified leads. However, this doesn’t make them interested in getting a loan; they may just be interested in information regarding loans or they’re just signing up for the heck of it.

The proliferation of paid-to-sign-up programs in the Internet is also a factor and adds risks in using Internet leads. Members of these sites just sign up discriminately to earn money and may not actually be interested in the program.

The Best Advice about Internet Leads

The truth is that one should exercise care when using Internet leads since these leads are niche markets on their own. As mentioned, some companies and even loan officers like you make a living out of selling out leads. You shouldn’t invest too much money on Internet, but in case you do, make sure to find out how the leads are obtained. Leads who come from paid-to-sign-up programs or from sites that offer something in return for signing up are generally unreliable.

In fact, it is best to generate your own leads. You can avail of pay-per-click marketing that most search engines offer and through forums and social networking websites.

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