By Adam Stein
Special to MPA
Editor'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 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.
Congratulations on having reached this point! By revisiting the applicable section above you can grow your site traffic model to its fullest potential. You have already done half the work by this point and acquired the basic skills to measure your expense and conversion ratios. With a little more work and creative design you should be able to affect internet traffic at the highest volumes possible.
Adam Stein is the CEO of LoanTek.