DISQUS

Jay,

I think you are right on all accounts, however there may be an additional factor that only substantiates and supports your theories and that is consumer confidence. Let me explain. Its my thought that the online mortgage lead generation vertical is nearing or entering its second generation of inquiries. Meaning, consumers have already once before gone through the process of searching online for mortgage help and have possibly experienced the typical lead gen process, which is fill out a form, have your information sent to 3-5 brokers, and possibly many more over time, received 10's of calls and quite likely left the process happy they received a refinance, but unhappy about what they just went through.

Therefore, consumers are looking for big brands, big banks and possibly avoiding the "Can you qualify for a 3.99% loan? Find Out Now" forms that go to an unbranded page. So this all leads to your Brand Value point.

You are exactly right about the Google effect. No doubt people are will to spend x amount of dollars more for their "own" marketing. Does it always pay off? Not usually.

I think one point that may have been overlooked was the actually decline in market value for mortgage leads. Over the last few years the average mortgage lead value as gone from $45 to $15 or even less. Now lead generation companies, working in the mortgage vertical, are being forced to drastically reduce payouts and we have watched that happen over the last few years. Frankly, I think that is the main reason. You didn't mention whether or not the lead form was converting less or not, but my guess the contextual ads are simply out performing the lead forms payouts and the form itself hasn't experienced a degradation in conversions, just a thought.


-Mike

Hi Bill,

I think this is a great move! Voice broadcasting is intrusive and annoying. With the recent loan modification buzz I have been receiving 2-3 a week. And it is not from telemarketers only voice recordings.

Its one thing to have a telemarketer call, but voice broadcasting is straight spam and unwanted. I think this actually makes it easier for the real sales person to compete. The consumer just may be in a little better mood when you call now, rather then the bad mood they are in when they just received 2-3 voice broadcasts in the past week.

I see this as a positive step for sales people, not a negative.

just my opinion, though

Jeff,
Great post. I think you hit it on the head and I am a little, hmm maybe not even a little surprised that the official blog post responder doesn't agree.

It is absolutely fine to advertise and it would be completely ridiculous to think otherwise, but when a company make claims over and over that they are on the consumers side and then allow advertisements like the ING example, it does come off short sided and hypocritical.
The fact that David wants to sit here and argue the point is even more ridiculous.
Come on David, snap out of it and correct your own misconception. How narcissistic is that comment anyway? As if they are always right...

How would the loan go down on this deal? Would you be able to spread it across both houses? Would they be totally separate? Would you be able to purchase and then cash out to help pay the $1.6m?

I think they are still there, but simply working PPC more efficiently, ie long tail keywords, rather then the more expensive generic terms.

At $20 a click you are looking at a $100+ lead that you are selling at $25 on average 3 times, if your lucky and that is only if the leads is a prime filter. What if the lead generated is subprime or purchase, you may not be able to sell that $100 lead at all. ouch

http://www.informationweek.com/news/internet/sh...
take a look at the Digg example too

This guy thinks he can push people around for giving their opinions is simply Crazy and will cost him, apparent scam of a business.
What a big p****
I am sorry for you Vlad that you ever talked with person and actually tried to help.

I am a blogger and am furious about this!

I like the theory Bill, but I really don't think this is going to work. I think you ask the most important question, "Would you Qtopia?"
I wouldn't...why would I? For the tools? Come on, I have way more important things to do. I think this will fail just like many of the other virtual marketing ideas.
Although, I think QL should be proud, as a company, to take such initiatives. Most companies don't have the guts to even discuss such an idea.

Trace,
Great article!

Great post Bill,
It really is all about speed and persistence (or diligence). I have heard so many brokers say I can't close leads and then to find out they called the twice. It is not about being rude and annoying ,but it is more about being respectfully persistent.