Most lenders don't adequately pursue self-sourcing to achieve successful results; those that do, however, are richly rewarded
By Adam Stein
Special to MPAEditor's note: Over the next few weeks, we'll be running expert advice online origination advice from Adam Stein, CEO of LoanTek. To read Part One, click here.
The primary fail point of the self-souring method is that most lenders do not adequately pursue this method to achieve successful results; those that do, however, are richly rewarded. Self-sourcing site traffic can be done effectively, but the tasks and skills to accomplish the end goal are no laughing matter. There are two key steps to successfully self-source mortgage originations online: create an engaging website, or landing page, that converts optimally, and; determine where you drive traffic from (Google AdWords, Facebook, Etc.,). What follows is a short list of the skills a lender will be required to possess, hire, or contract, to create an effective self- sourced campaign:
- Copy Writing– the ability to write concise marketing that will create engagement Graphic Design & Web Design – the ability to create imagery and landing pages that will use your content to convert clicks to actionable consumer records
- Content Writing (Blogging) – the ability to regularly create and post unique content. Specifically, content that meets the value proposition of the consumer and creates Search Engine Optimization
- Managerial Accounting – the ability to measure the expense and conversion of your overall consumer aggregation model and manage the results accordingly
Hybrid aggregation
Hybrid aggregation assumes two basic concepts:
- You have successfully implemented either self-aggregated or aggregated traffic; and,
- You are profitably managing these and you want to increase you sales opportunities.
Adam Stein is the CEO of LoanTek.