Lead Generation. It’s been around since the first banking system was invented in ancient Egypt 2,500 years ago. Yet good quality lead–gen tools remain elusive. And it’s that pesky word “quality” that seems to keep it at arms reach. This despite the fact that we are well aware of what makes up a quality lead — someone with the desire to buy as well as the ability to buy.

So if we’ve had so much practice chasing leads and since we know very well what a good lead looks like, why do we struggle so much with obtaining it? Why do we spend countless hours and dollars on lists and other tools that in the past have proven unpredictable at best?

We need a fresh look at lead generation and we need look no further than our marketing strategies. Today’s emerging marketing tools are narrowing the gap between the big guys and the one–man–shop. By harnessing the Internet with some strategic and solid thinking, one can turn a marketing campaign into a powerful lead generation tool with lasting bottom line impact.

NextGen Web Marketing
What is lead generation through web marketing? It’s currently the least expensive and arguably the most effective source of advertising available. Companies seeking to gain more business have been turning to web marketing experts to create campaigns that will drive leads to their company. But you don’t need to be an expert. All it takes is a simple search in Google for a mortgage rate quote or a roofing repair contractor. You visit a site that offers you the ability to receive a quote from a company, and you request this quote. Like that, the lead is generated. You receive your free quote and the company receives a quantitative result from an advertising campaign.

A company in a major market can spend more than $10,000 for a one week radio advertising campaign and only receive a handful of telephone calls that they could consider a lead. An internet marketing lead generation campaign, however, allows a company to spend a fraction of that amount and receive much greater results. In many cases, leads generated by the Internet have a higher close ratio than any other form of marketing because the prospect has already made several purchasing decisions about the company. It’s the difference between generating leads and generating “quality” leads.

Offering Something for “Nothing”
The core of the emerging Lead Gen marketing trend is in many ways a new twist on the value added, money back guarantee voiceover that is heard on any late night infomercial… 

"And if you order now, we’ll throw in a second set FREE!"
The idea is to find what your business has to offer that is compelling and hard to find elsewhere and “give” it to your prospect in exchange for information, not money. This can be tricky as we may identify something “of value” only to find that it is already available elsewhere. For example, a Realtor who requires its online users to provide information to search its MLS listings will not be very successful in this approach down the road simply because there are too many other sites that allow a person to conduct that same search anonymously.

A mortgage quote is difficult in our industry simply because there are so many variables to consider. While a mortgage calculator may be useful in determining a ballpark figure, we all know they are about as accurate a tool as a sundial is for timing a 7–minute egg.

One piece of the puzzle that savvy brokers and lenders are starting to harness is the credit report. It’s something that requires personal information and it is often difficult for the average consumer to understand.  Plus the credit report most people have access to is not the same tri–merged report that the mortgage industry uses in assessing risk for its loans.  If you empower your  prospect to obtain his/her credit report easily through your website, you’ve already determined if it is indeed a quality lead by discovering that this person: A. wants to buy a home; and B. can (or cannot) buy a home based on credit score. If you’d like to offer credit reports to your customer to generate leads, Credex has a built–in AppWizard to help you generate these leads.

So whether it’s a quote, a credit report or even a free home inspection, the value-add is the secret to transforming a marketing campaign into a lead generation tool.

But you can’t stop there.

So you’ve got the lead. Now what?

Treat your new leads like gold. Respond quickly and professionally. Be available. Be knowledgeable. Refer them to good Realtors that you know serve their area of interest. Service, at the end of the day, is what wins you the business.

We are simply not a commodity business anymore. We are a service business. This is the largest purchase of most people’s lives and they must reveal a great deal of personal information about themselves to a host of people they don’t know to get it done. No matter how long you are in this business, you must always remember how exposed the customer feels and treat that new lead with exceedingly good service. After all, that’s how we build referrals — and the referral is the best lead of all. It costs nothing to obtain and it’s a testament to your good work.

The Future of Marketing
The trend towards providing something of value “free” in exchange for information isn’t new in traditional advertising mediums. But savvy marketers are learning that this concept, combined with today’s electronic advertising medium, is a powerful combination. And one you’ll be seeing more of in the future. The time to jump on this trend is now.