Now you may be asking yourself…”Why would you just show me the blueprint to generating loans on auto-pilot?”
The reason is fairly simple…My new software platform will do it all for you for the price of a nice steak dinner with your significant other. Arlo is being used by over 400+ brokers over the last 3 months.
So whether you want to use our software to deploy this strategy or not, it is still integral in this era of digital disruption to understand the fundamentals of an automated direct to consumer advertising campaign.
Video is king. 100 million hours of video are watched on Facebook every day.
After testing image ads vs. video ads with over $50,000 in a one month period, we witnessed our cost per lead (w/ soft credit pull) drop from $48.54 to $9.87 in the Southern California market.
For every ad campaign, we test over 2500 different combinations of:
We have built a portfolio of over 1,000 creative videos that we cycle in and out when certain ads go stale.
If this sounds like a lot of work to reproduce…it is…
Fortunately, we made it easy for anyone to launch video ads.
After the dynamic videos grab your prospect’s attention, it is the copy and offer that gets them to click and engage with the ad.
They promise an on-demand experience only to take you to a BS thank you page telling you someone will call you back (more on this in #3).
Consumers expect an on-demand experience…so we deliver it to them in the form of an instant pre-qualification, free refi and home valuation report.
By providing the consumer with up front value that does not require a phone call, we have seen a huge bump in customer satisfaction.
The more consumers like the ad, the more they share it. The more they share, the more free leads you receive.
Which form do you think converts at a higher rate?
A form with 20+ self-reported questions or one that only requires 3-5?
My 3 year old daughter even knows the answer to that question…yet the majority of MLOs use industry form builders that use 10 year old tech.
Here is the breakdown of the one page we used to generate 1,500+ refi leads EVERYDAY.
50+ individual data points and growing (we are even working on digital income and asset verification).
Upon completion of the short form, Arlo instantly delivers a custom refi calculator and home valuation report.
No waiting. No avoiding calls.
By giving the consumer an on-demand calculation we have seen 54.8% scheduling a meeting with ZERO follow up.
The fortune is in the follow up.
Did you know that you have a 500% better chance of closing a deal if you engage the lead within the first 5 minutes? Did you know, 72% of real estate and mortgage leads do business with the first person that contacts them?
Once a qualified lead comes in, we make sure to hit them with a well timed cadence of:
The key here is to make the messaging seem as “handwritten” as possible.
Most mortgage companies follow up with robotic, canned messages that feel like they were written for a corporate brochure.
Keep them simple:
The key to sustained profitable advertising is to provide Facebook’s algorithm with the proper data so that your ads will be placed in front of the best potential customers.
Most marketers (even the gurus) are doing it all wrong.
They send every single prospect to the same tracking event.
Facebook’s algorithm has no way to differentiate a bad credit lead from one that has good credit and checks all the boxes.
Our software sends all of the proper data back to Facebook so that it’s algorithm can keep optimizing and finding the best borrowers before your competition.
I used to have a team of 5 media buyers who would optimize campaigns all day.
Arlo integrates with Facebook to optimize campaigns every single day, in real-time with ZERO human interaction.
We are even launching a new lead concierge service that will dial everyone of your leads for you…10 times over 5 days to book a call or live transfer a lead who is qualified and ready to apply.
…Plus a new feature we call the Listing Accelerator which will allow you to partner with realtors, fill out a short form and launch ads for all of their listings.
Lenders would not be allocating their marketing dollars to Lendingtree if it did not generate an ROI. However, the question that should be asked is, whether or not that return could be higher elsewhere?
As I have stated in past articles, I did not start in the lead generation / adtech business.
Prior to getting into tech, I was a money manager. I looked at marketing and advertising dollars as a highly appreciating asset class.
Once you find the right mix of advertising and marketing methods, there is no better investment in the entire world.
Not even the smartest quant funds on the street can generate this return…And lendingtree knows it. They profit from what’s called, lead arbitrage. Buy a lead for X and sell that to another party for more with limited risk.
The problem the consumer faces with Lendingtree and any lead vendor, without even knowing it, is that the lead vendor will dictate the return.
They manipulate the price to maximize the profitability for THEIR shareholders.
So while you may be eking out a small return when paying them for leads, you also limit your upside return and scalability.
So why do so many lenders still rely on Lendingtree to fuel their pipeline?
It is the only way they know and up until 5 years ago; building a fully systemized, data-driven, and tech-enabled lead generation platform for your business was complicated and out of reach for most lenders.
Not anymore. In this short article, I will discuss the flaws with Lendingtree and lead vendors in general, followed by how any size lender, from a one-person shop to 5,000 loan officers, can build their OWN Lendingtree without having to take out a second mortgage.
From sources, I have confirmed that Lendingtree charges:
If you’ve bought leads before, you probably have called a “hot” lead to find out that 5 other LO’s have already reached out to them!
How is this good for you? You compete not on the expertise you have taken so long to craft, but solely on your ability to reach them first.
71% of buyers do business with the first person they speak with – Zillow
Have you ever filled out a form at Lendingtree? Don’t do it. You will receive calls, texts, and emails for months. These leads are resold and recycled, so you will never stop receiving calls. How enthused will your next lead be when you are the 5th person that has called them in the last hour?
This leads to low conversion, constant chasing and time wasted.
How long does it take you to get a lead delivered?
Without owning the lead generation process, it’s impossible for you to know if these leads filled out a form in the last 60 seconds, or in the last 7 days.
If you follow up with web leads within 5 minutes, you’re 9X more likely to convert them -Hubspot
Zillow recommends following up with mortgage leads within 30 seconds in order to have the highest chance of a conversion.
Why is that?
Well, if Joe is searching for a mortgage online and fills out a form, and doesn’t get instant feedback that you’re there to solve his problem; he is going to keep searching for solutions. In today’s internet age, there is too much noise, and too many options…immediate follow up is crucial if you want to see ROI!
Modern consumers (Millennials especially) want to be reached through different channels: text and messenger chat.
Yet after filling out over 350+ forms on Realtor and Lender sites, we found the average response rate was 48 hours.
A study by the Harvard business journal found that 72% of online leads ARE NOT EVEN CALLED!
As the great Ricky Bobby Says: “If you ain’t in first, you’re last.”
Where do they get these leads from? How do I know they aren’t using shady sales tactics to get the forms submitted? Are they recycling these leads to multiple LO’s in order to maximize the money they make from each one?
The fact is this- if you don’t own the digital assets (websites, ads, etc.) that are generating these leads, and you are on a platform with thousands of other Loan Officers, there is no way to be sure that leads aren’t being recycled. You also don’t really know that they aren’t using shady tactics to generate those leads. Now, this does not hold true as much for Lendingtree, but could possibly for the other 500+ shady lead vendors whose bait and switch ads you will see all over the internet.
When you pay Lendingtree for the leads they are using that revenue to further extend THEIR brand. After doing this for 23 years.
This has lead to millions of people organically (without paying for ads) visiting their site. This produces free leads.
By advertising through Lendingtree or Zillow, you lose all branding power.
Let’s say you run an advertisement for new home buyers for 12 months on Facebook and spend $30 a day. On average that is 365,000 impressions of YOUR brand being shown to your local market every year. Over time more and more people will see & SHARE your Facebook ad with their friends and family. If done correctly, social sharing will produce FREE leads every day. These are the same FREE leads Zillow produces and then charges you for.
So what is the solution?
Build your own systems to generate your own leads by tapping into data and networks that hold a billion people?
Let’s face it. Facebook, YouTube, Twitter, and Google ARE the internet.
To access this vast consumer data set you will need to pay the toll.
That’s what paid advertising is…but it is not as easy as throwing up an ad on Facebook, sitting back and counting your money.
That is why 10,000 Millennials every day sign up for courses and start their digital marketing agency. Then the next day when they launch their “business” they try to charge you $1,000 to $2,500 a month. Advertising online takes time, money, patience, and multiple failures before you figure it out…until now.
Meet Arlo.
Arlo completely rethinks everything about online customer acquisition. Re-imagined for the modern age, it transforms the way you attract, pre-qualify and communicate with new prospects.
Arlo delivers the on-demand experience borrowers expect, on the channels they prefer.
Forget chasing bad prospects, overpaying marketers, or sharing marked up leads with competitors…Hire Arlo.
Arlo will set up proven ad campaigns, uncover the most profitable market segments, pull credit, pre-qualify and manage all your follow up, 24/7/365, so you can focus on building relationships, closing more deals and expansion.
This is how it compares to Lendingtree and other lead vendors.
100% Exclusive & Transparent.
Arlo launches proven ad campaigns from your brand. These leads are never shared with any other broker. You generate the leads at cost and can see first hand how these leads are being generated directly in Facebook’s dashboard.
Credit Qualified – Arlo then will credit-qualify each lead with a FICO and full credit report in realtime, with just their name and current address.
Automated Follow-Up
Arlo will follow up with credit qualified leads across text, Facebook Messenger, email and voicemail drops until they book a call. We are automating everything from Lead to Loan.
Your Page. Your Data
Every ad placed by Arlo is through your page so you get the benefit of increased exposure. One customer just this week generated 14 FREE credit-qualified leads JUST from people sharing his ad post on Facebook. We have developed a method that will train your Facebook pixel on how to target the BEST possible prospects in your market quickly, while you still maintain 100% ownership.
Compliance Ready
We provide full customization so that you can ensure every ad and page is fully compliant under your companies guidelines. These best practices have been adopted by working with some of the largest lenders’ legal teams. Since you are generating these leads yourself, using Arlo, you have full control over what is seen by the public helping defend against any arbitrary complaints.
And drum roll please…CONSUMERS LOVE IT!
They are provided an instant pre-qualification decision and moved to the next step in your process. 84% of qualified leads are booking appointments themselves so you do not even have to pick up the phone.
NO Set Up Fee or Closed Loan Cost.
On average we have seen leads cost $4.34. Of these leads, 38% have above superior credit. If you invested the $10,000 set up fee + $5,000 deposit you would be paying lendingtree and re-invested it in ad spending on Facebook and Instagram you would:
How many of these leads would you need to close to make 2, 3, even 10X your earnings?
So does Lendingtree still bare fruit? Yes.
If I was to compare Lendingtree to one fruit it would be Wine grapes.
Our goal is for Arlo to become every MLOs and Realtor’s most valuable digital partner, and we are doing everything we can to help you maximize advertising ROI….Can you say that about Zillow or your current lead vendors?
Get access to big data and enterprise tech starting at $195 a month.
]]>My team and I have developed these rules after spending over $10MM in advertising over the last couple years. We have generated over 300K+ leads in lending and real estate alone. Facebook is constantly changing, however if you can perfect the fundamentals listed below you will have a leg up on all of your competition.
Facebook advertising used to be complicated…but not anymore w/ Arlo you can launch proven ad campaigns that follow the ten rules above (plus about 30 more) in less than 60 seconds with ZERO technical skills.
Sign up for our trial, launch ads and generate leads in 24 hours or less.
]]>Nobody could have predicted it…
But nonetheless, it’s here.
And this pandemic is the black swan originators have been dreading.
Growing a business during an economic contraction is a radically different beast.
But while everyone around you is panicking.
Frozen by fear.
And as your natural tendency is to go into survival mode and contract.
Remember, your perception is your reality.
We are here to help you persevere in the downturn and fully prepare for when the market opens back up.
As Warren Buffet says:
I am not an originator. I don’t know the first thing about mortgage-backed securities, rate fluctuations or underwriting.
However, I do know how to use paid advertising and technology to help businesses grow.
If you are unaware, Facebook’s Ad platform is an exchange.
Simply put, it acts just like every other supply and demand economic model.
You have advertisers bidding to show their ad to their target audience.
Facebook Advertising is fueled mainly by e-commerce, travel/leisure, restaurants, and consumer goods.
Over the last 3 years, the Zuck was running out of digital real estate to place ads in front of his huge audience, so the cost for Facebook has risen dramatically…until now.
With the majority of businesses being forced to close down, all major advertising categories (e-commerce, travel/leisure, restaurants, and consumer goods.) have slashed their ad budgets…many of them stopping completely.
While at the same time, millions of Americans are sitting at home scrolling through Facebook at historic rates.
This pricing is similar to the good old days 4 to 5 years ago..
Now is the time to be placing REFI offers in front of every potential prospect in your local or national market for pennies on the dollar.
Rates are not going to stay this high forever.
Americans are actively searching for ways to save money and access cash.
They are not caught up in the daily rate fluctuations…they just want solutions.
Thousands of people in your area are searching Google for refi quotes while you are reading this article.
They are raising their hand and asking you for help.
The largest lenders in the world are capitalizing and scooping up all these hot prospects.
Just like Facebook, Google works on an exchange. You bid to place your ad in front of people who are actively searching for refi keywords.
Increased traffic has lowered the cost so anyone can generate highly motivated leads without a huge budget.
Before I go into the solution let’s briefly discuss why most independent brokers and regional lenders are not able to take advantage of this online lead goldmine.
Generating leads on Facebook is fairly easy. Plenty of the online, overnight “gurus” and digital agencies who fill up your own Facebook feed can do it.
The key to predictable online success is CONVERSION.
Let me explain in the most basic example:
Mortgage Company A & B place the same exact ad, word for word on Facebook & Google.
They pay the same exact amount per click, let’s say $10.
The potential borrower goes to a sales page and hopefully fills out the form.
Most will not.
The average conversion rate for most pages is sub 5%.
So for every $10 click, only 5 in 100 will fill out the form, effectively creating a lead for $200.
Then you would drop your lead cost from $200 to $50 (20% conversion) to $33.33 (30% Conversion).
The top marketers who get paid the big bucks focus solely on conversion, while all the amateurs chase vanity metrics.
Once you have pages that convert at 30-40% (Hint Hint we show you how in the video above.) then you will need to master how to turn that lead into an appointment.
This is where even the big boy lenders fail.
A lead fills out a form only to land on a generic thank you page that says someone will call them within 24 hours.
This is the lead graveyard.
The modern borrower wants an on-demand experience.
They do not want to wait for you to call them back or be forced into a long application.
So…we threw out the old, slow model and built a better way.
Give the customer the small reward they want: A free credit score, instant pre-qualification or a customized home valuation and refi report.
By giving the consumer what they want we have seen 80% of qualified prospects book a meeting or dial in WITH ZERO follow up.
Whether a recession hits or not, you still need systems to properly work your leads with as minimal effort as possible.
Most people fill out forms incorrectly and lie about their credit scores.
Over 73% of the leads we have captured this year have self-reported false credit ratings.
So we created a better solution…Leverage soft credit reporting to pull credit score with just name and address then give them an instant decision that they qualify.
So while every other originator is chasing down bad leads you can laser focus on the 20% who are credit qualified prospects while building a pipeline of fair credit leads who may qualify when credit guidelines ease.
Every digital mortgage marketer out there touts how they can help LOs schedule appointments on auto-pilot, but what they regret to tell you is that only 10-20 out of 100 will be good prospects…especially for purchase.
You end up wasting time and money talking to people who will never qualify.
If a recession hits then every dollar you invest in your business is an important decision.
Many lenders are tricked into paying digital agencies to set up ads for them. (Read this article for more info)
Or you pay that company that rhymes with Pillow and lead aggregators to share leads with your competition.
Don’t waste your money…Hire Arlo.
Arlo (my company if you have not already guessed) is a 24/7 sales and advertising assistant.
All you need to do is fill out a form and let Arlo build your campaigns.
Watch me set up a campaign below in 60 seconds
Arlo does what a large team of highly trained advertisers cannot for $195 a month.
If your qualified leads do not call or schedule then it is paramount to follow up with them across every channel.
You need to show up everywhere and often.
71% of customers do business with the 1st person they meet. – Zillow
MIT did a study that shows if you engage your leads within the first 5 minutes you have a 500% better chance of turning them into a customer.
Arlo has an omnichannel suite of tools so you can engage your leads and customers on auto-pilot across Facebook Messenger, Text (SMS, Audio, MMS), ringless voicemail, call routing, and even dynamic “handwritten” postcards.
All you have to do is plug in, push-button and Arlo handle all the follow-up.
Don’t go into hiding.
Don’t worry about rates, they will come back down.
Don’t worry about the things you cannot control.
Use Arlo and new technology to save money and automate customer acquisition.
Start building out your tech stack while times are slower.
Sign up for a free 7-day trial
]]>
Keeping Realtors and lenders’ best interests at heart is secondary to dividends & share price value. (If you don’t believe me than listen to the last two earnings calls)
I first want to say, I have no ill will for Zillow. As an entrepreneur, I marvel at what they have done…
How they can convince thousands of Realtors and lenders to pay rent for a parcel of their online property is no small feat.
Will this “old internet” pay per lead model that worked 10 years ago exist in the next decade?
The short answer…No…and Zillow already knows that.
They are moving from an advertising-based business model to algorithm-based home-flipping. Their executives knew this day would come for years.
Zillow has also started to ramp up mortgage operations, Zillow Mortgage, to fuel it’s iBuyer platform, Zillow Offers.
“Home shoppers who visit Zillow to shop for a mortgage can now get financing directly from Zillow Home Loans.”
This transition would never happen without the support of their Realtor and lender partners who pay upwards of $5,000 a month for certain zip codes and $90+ for an exclusive lender lead.
In this short article, I will explain the top reasons why you need to take back control of your marketing budget and start to diversify in 2020.
Did you catch that?…unlike every other digital marketer I did not say: “Stop using Zillow!”
If you are making a nice profit margin on Zillow, then keep doing it.
Prior to shifting into ad tech, I was a money manager.
I look at a marketing budget like an investment. You MUST diversify.
Most lenders and agents are unaware of the potential huge upside of investing in building their own online customer acquisition system.
Therefore, I am going to make the case for why you need more options, then I will talk about the solutions.
Lead & Traffic Cherrypicking. Zillow is buying and selling houses. If a strong seller, buyer or lender lead fills out a form on their site that fits their profile; how do you know they are not keeping that lead for themselves? After visiting the site for the past 6 months I have seen a barrage of ads and emails promoting their new iBuyer platform. While the business model transition is taking place you, as an advertiser, are paying high prices to essentially market Zillow’s new platform. I personally do not see why that would make sense, considering that this new platform will seek to eliminate your role as a realtor or lender.
High Lead Cost. Zillow leads often convert higher than the national average (which is an abysmally low – sub 3%), but you end up paying for it. On average a Zillow mortgage, long-form lead can cost upwards of $90+ per inquiry. I immediately see a glaringly obvious problem. Will this person every qualify for a loan? NO idea…these leads are all self-reported credit ratings. Add in the opportunity cost lost chasing down bad leads and it really starts to add up. Almost every single high-value area code has already been gobbled up by deep-pocketed competition who have the money to burn.
Zillow does not scale. Most Zillow markets are over-saturated and overpriced. Zillow controls the flow of leads and uses primarily organic methods to generate leads which are limited to the amount of new daily site visitors. You cannot flip a switch and 10X your output without paying dearly for it. Zillow is the sole dictator in deciding how many leads you will be alotted.
Speed to Lead As with all online lead vendors you never really know when that lead was processed. Did they send it in real-time? Sure they say the leads come in quickly, but they are not legally bound to a specific time period. As you have probably heard before…The Fortune is in the Follow Up.
No Branding Power – Zillow markets for Zillow. They use some of the same advertising methods that you have access to right now. They know that if they advertise on Facebook they will generate new leads, but also understand that they are getting the secondary benefit of branding. Over time this branding power will start to generate traffic and leads for FREE. Let’s say you run an advertisement for new home buyers for 12 months on Facebook and spend $30 a day. On average that is 365,000 impressions of YOUR brand being shown to your local market every year. Over time more and more people will see & SHARE your Facebook ad with their friends and family. If done correctly social sharing will produce FREE leads every day. These are the same FREE leads Zillow produces and then charges you for.
You Don’t Own the Data The most profitable part of online advertising is being able to cookie and track potential leads across multiple online patterns. Zillow owns all of this buyer data and leverages it to perfection. 99.9% of DIY online advertisers have zero understanding of how powerful this data is so let me break it down in simple terms.
Facebook, Twitter, Instagram, and Google have the largest databases of consumer data in the world that YOU can tap into (for a minimal cost). Once you place this tracking code on your site (correctly), then you will start to tell these networks who your BEST customers are. This tracking code (pixel) data is owned by YOU. The more data it tracks, the more powerful and cost-effective your ads will become. So while Zillow generates 20+ million leads a year, you can tap into Facebook billion person network and train the algorithm on how to find your best customer for as little as $10 a day.
RESPA Compliant? As you are probably well aware, RESPA auditors are cracking down on shared lead sources. Some legal experts interpret Zillow advertising as walking a fine line with compliance.
In short. Build your own Zillow.
In the past, it would take a huge team, access to enterprise tech, and deep pockets to build a data and tech-driven marketing machine.
Now you can launch in minutes. How?
Meet Arlo.
Arlo completely rethinks everything about online customer acquisition. Re-imagined for the modern age, it transforms the way you attract, pre-qualify and communicate with new prospects.
Arlo delivers the on-demand experience borrowers expect, on the channels they prefer.
Forget chasing bad prospects, overpaying marketers, or sharing marked up leads with competitors…Hire Arlo.
Arlo will set up proven ad campaigns, uncover the most profitable market segments, pull credit, pre-qualify and manage all your follow up, 24/7/365, so you can focus on building relationships, closing more deals and expansion.
Lower Cost. Higher Quality – We have been producing leads on Facebook and Instagram since the platforms went live. There is no other open advertising platform that produces lower priced leads that convert. Arlo requires zero technical knowledge. Just connect your Facebook page and let Arlo deploy, optimize, and scale your ad campaigns to generate 100% exclusive leads.
Credit Qualified – Arlo then will credit-qualify each lead with a FICO and full credit report in realtime, with just their name and current address.
Automated Follow-Up – Arlo will follow up with credit qualified leads across text, Facebook Messenger, email and voicemail drops until they book a call. We are automating everything from Lead to Loan.
Your Page. Your Data – Every ad placed by Arlo is through your page so you get the benefit of increased exposure. One customer just this week generated 14 FREE credit-qualfied leads JUST from people sharing his ad post on Facebook. We have developed a method that will train your Facebook pixel on how to target the BEST possible prospects in your market quickly, while you still maintain 100% ownership.
Compliance Ready – We provide full customization so that you can ensure every ad and page is fully compliant under your companies guidelines. These best practices have been adopted by working with some of the largest lenders’ legal teams. Since you are generating these leads yourself, using Arlo, then you have full control over what is seen by the public helping defend against any arbitrary complaints.
Our goal is for Arlo to become every MLOs and Realtor’s most valuable digital partner, and we are doing everything we can to help you maximize advertising ROI….Can you say that about Zillow or your current lead vendors?
Get access to big data and enterprise tech starting at $195 a month.
]]>
That is a Dodo bird.
Why am I showing you a picture of a Dodo?
Well, let me tell you a story…
About how that Dodo can serve as an incredible lesson for your mortgage business to not only survive but thrive during these turbulent times.
The Dodo bird inhabited the island of Mauritius in the Indian Ocean, where it lived undisturbed for so long that it lost its need and ability to fly.
It nested on the ground and ate fruits that had fallen from trees.
There were no mammals on the island, just a range of bird species.
Then, In 1505, the Portuguese became the first humans to set foot on Mauritius.
The island became a popular stopover for ships trading spices.
Weighing up to 20kgs, the Dodo bird was an easy source of fresh meat for the sailors.
Large numbers of dodo birds were killed for food.
Later, the Dutch used the island as a settlement to exile prisoners.
Pigs and monkeys were brought to the island along with the convicts.
Before humans and other animals arrived the Dodo had little to fear from predators.
They were roaming the island fat and free.
But the combination of human exploitation and introduced species significantly reduced Dodo bird populations.
Within 100 years of the arrival of humans on Mauritius, the once abundant Dodo was a rare bird.
The last Dodo bird was killed in 1681.
Well, just like the Dodo bird up until recently.
We’ve been experiencing the largest and longest economic expansion in history.
That’s right, the 2009 bull run is going on 127 months (10 years).
So pretty much we’ve been going on uninterrupted…
Just like the Dodo bird for the last 10 years!
Roaming around free from disturbance from other species (economic disasters).
As a result, a lot of originators have been relying off word-of-mouth and referrals to get new clients.
They haven’t been advertising.
They’ve lost their ability to fly.
But now the monkeys, pigs and convicts have arrived.
And change is no longer a choice, it’s a necessity.
Listen very carefully when I say this…
Instead of letting your business become extinct….
You must evolve and adapt to this ‘new normal’.
To the new economic climate in order to survive.
This quote by Charles Darwin sums it all up…
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.”
Don’t be the Dodo.
Pivot, modify and evolve your business.
How your team works.
Your messaging.
Your ads.
Your market.
And beyond everything else…
Evolve your mindset.
]]>That’s an exaggeration, but if your email and Facebook feed looks anything like mine it may be not very far off.
I’ve been in the industry now for 6 years and never before has it been so over-saturated with amateurs. If this comes off as an angry article…it is. I’m sick of hearing horror stories of fake experts charging exorbitant fees to over promise and under deliver.
I made a shortlist that goes over my top reasons why hiring a digital marketer is a waste of time and money if you are a lender or realtor.
I am not trying to say every single digital marketer is bogus…just the ones in lending and real estate. Their are plenty of branding agencies and D2C e-commerce advertisers who deserve big paychecks. Your digital marketing consultant or internal marketing director may be a great person. They may do a great job…but they are missing a number of key elements that separate a highly profitable marketing campaign from one that just breaks even.
A 3 comma mentor of mine gave me this short acronym with which I measure every deal (and product I build).
So if you are paying an agency right now, have entertained doing it in 2020 or have been burned by one in the past then hire teo…you and your bank account will not be disappointed.
]]>Setting Up ad on Facebook and generating leads is easy.
Turning those leads to sales is hard.
That’s why every millennial in America takes a course and becomes a Facebook “expert” overnight.
Then they go and charge business owners $2,500 to $5,000 a month.
Most business owners will pay this because they simply don’t know how easy it is.
The hard part is generating GOOD leads and converting them to sales predictably.
Most small, mid-size and even global companies have a bad follow up process.
They waste billions…Yes, Billions paying for marketing that send leads to a broken follow-up system that is slow and dated.
My team has personally tested over 500+ companies both locally and globally.
This is what we found:
72% of online leads are never even called.
42 Hours is the average response time to inbound inquiries.
We live in an on-demand economy. Your next best customers want the information they need to make a buying decision NOW.
400% is the drop off in conversions if you do not engage that prospect within 5 minutes.
Most people are lazy. They want immediate gratification.
78% of consumers will work with the first person who reaches out to them.
So in order for you to turn more leads online into sales, you really have to do only 2 things well.
If you engage them in 5 minutes you will convert 400% more (video below shows how).
If you reach them first you have a 78% chance they will buy your product or service.
You are probably saying to yourself…
”No Ray…I already do that…I send follow-up email autoresponders.”
This does not work anymore. The methods of customer acquisition have changed.
With teo you can:
We have seen an 8-10X increase in conversions by adding in on-demand credit qualification + omnichannel outreach while saving our customers 2-3 hours a day from dialing bad leads who will never turn into loans.
]]>