Opportunities for Mortgage Brokers

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The mortgage broking industry is dominated by a handful of large companies who have made the very significant and strategic investments necessary to ensure that they win the lions share of all new business generated from the Internet. The traditional marketing approach of brand value has been expensive but very important, but in 2017 it is much more important for mortgage broking companies to be winning the Internet search war.

Annie Stevenson, professional independent mortgage broker

There has been a massive trend over the last few years particularly amongst younger people to use and depend on Internet search as the way to find the best products and services. Unfortunately for everybody else virtually all new business will go to the companies that manage to get themselves into the top 2 or 3 results for major Internet searches. Those companies that have made a large investment in web development and SEO but don’t manage to get themselves into the top 3 will find their investment is largely wasted. For the small handful of large companies that dominate the top three slots their business model is simply making certain they can cope with the massive amount of new customers that “flock in through the door”. They do not even need to deliver excellent service, as reputation is almost irrelevant if they consistently rank in the top 3.

An interesting opportunity exists for specialist SEO companies to nibble away at this new business traffic stream. All an expert SEO company needs to do is to have a reasonably presentable website that is optimised for conversion, and then to apply their SEO expertise and horsepower to rank their website in the top 3 in major Google search terms. When their website is properly optimised for conversion then they should be able to entice around 10% of all visitors to fill out the form on the webpage and become a genuine lead. The company can use a smart cloud-based lead assignment tool available from the web to pass any leads in real-time to the best mortgage brokers found in Upper Hutt as a text message.

Provided the SEO company has configured their web page correctly to eliminate “dreamers” and to get the necessary information from a customer, then the leads produced can have a high degree of likelihood of success for the mortgage broker, and will be very valuable. It will take some months for the SEO ranking to kick in, but eventually leads will start popping out of the system sporadically, and this period can be used to tweet and optimise the website and to gain some hard statistics around the success rate for mortgage business. The ideal way to do this is to have one client such as a good mortgage broker from Wellington who will take all the leads for free but will also put real effort into the leads. Over a period such as one month both the SEO company and the client broker will develop a clear understanding of the success rate of the leads and therefore what the likely value to the broker.

Because the mortgage broking business delivers a very high payback in the way of commission for the typical mortgage, the actual return on investment and time for the mortgage broker is outrageously high. The broker will be aware that this is brand new business that will likely grow, and that they can easily scale to meet the demand at very little cost. Done correctly this should result in a partnership between the SEO company and the broker that is extremely lucrative for both companies.

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