Ad conversion rates are measurements many loan officers and mortgage companies track as they employ search engine marketing to elevate their online presence and compete in a digital mortgage world.
Using Surefire℠ CRM and Mortgage Marketing Engine, mortgage companies can boost conversion rates with tools like landing pages, forms, mortgage calculators, educational interactives, text messaging and marketing automation. The good news is these won’t be just any conversions – they’ll be quality conversions that may actually translate into deals.
What are ad conversion rates?
An ad conversion rate is the ratio of people who take a specific action to the number of people who viewed an ad. Some marketers consider the “action” a simple click, while others may look at the number of people who actually made a purchase. Still, others may look at the number of people who become leads. While all are relevant metrics in different scenarios, for the purposes of this article, let’s look at the number of people who complete a lead form relative to the number of people who view the ad.
The math will look something like this:
500 (lead forms returned) divided by 50,000 (people who saw your ad) = 1% ad conversion rate
In this scenario, the conversion rate relies on the effectiveness of several aspects of your approach – how well you’ve targeted your audience in your social engine marketing, the appeal of the ad itself and the success of the landing page or form in enticing people to take the next step after their initial click.
A “good” conversion rate in this case varies by industry and channel. For example, an average conversion rate for Google Ads is about 3.75% while the average pay-per-click (PPC) advertising conversion rate is around 2.35%. On average, financial and insurance industry ads convert about 6.2% of viewers, according to research from Unbounce.
Surefire can boost an ad’s effectiveness so you reach more prospects and close more loans.
Which Surefire tools can boost ad conversion rates and bring in quality leads?
Surefire has out-of-the-box and build-your-own solutions to boost the number of leads generated from social engine marketing. These solutions work together to create an experience that can educate potential borrowers and inspire them to act, creating more quality leads. Here’s how that breaks down:
- Landing pages – Surefire offers pre-built landing pages, or standalone web pages, where prospects can “land” when they click on an ad. These pages contain experiences ranging from simple, stylized educational information to interactive content to mortgage calculators. Optimized for mobile viewing, they typically include options for social sharing as well as response forms. Surefire’s landing pages are designed to be branded for the LO or company sharing them, with space for licensing, contact information and even co-branding with referral partners. Many designs pull in company colors, providing a seamless experience for prospects.
- Forms – Surefire forms can be placed on a Surefire landing page or even on a non-Surefire website. Surefire-created web forms are typically simple, since longer forms often result in abandonment and fewer conversions. When a prospect completes the form, they’re immediately added into the LO’s database as a lead. With Surefire’s marketing automation, the LO will receive a notification, and the lead will receive an immediate automated SMS response (a key factor in converting leads to borrowers) While Surefire has plenty of pre-built forms, which are branded for the LO, the mortgage CRM also has the tools so mortgage companies can build their own forms.
- Mortgage Calculators and Educational Interactive Content – When your ad entices someone to click and they land on a page with quality content, they’re more likely to take the next step and complete a form. Furthermore, assuming they’ve taken time to input some numbers in the calculator or otherwise engage with the content, they’ll be a better quality lead, too — one who has put more thought into a mortgage than the average rate shopper. Like landing pages and forms, many of Surefire’s mortgage calculators, games, video riddles and interactive content pieces are custom branded, and all contain LO info and the option to co-brand with referral partners.
What comes after ad conversion?
What comes next is just as important as capturing a lead in the first place. With Surefire’s marketing automation:
- The lead will get an immediate response over their preferred channel.
- The LO will be notified so they can engage personally at their earliest convenience.
- An omnichannel automated workflow can be triggered to engage the lead for days, weeks or months until they become a borrower.
If you’re interested in learning more about boosting your mortgage company’s ad conversion rates with the power of Surefire, register for a demo today!