Cost per click website promotion

MortgageMamma

Hi to all mortgage brokers using this site.

I am looking for a bit of feedback, as I have just gone into business as a broker couple of weeks ago. As ever with a new business things are a little slow at the moment, and I am wondering if any of you use cost per click on your websites? I am currently considering this but its costs a small fortune and it could be make or break for me. If any of you are currently using it or have used it in the past I'd be greatful for any feedback

thanks
Lisa

silvercar

Friends bought a flat in Puerto Banus that they wanted to rent out. They created a website and did some cost per click through google. They said it was expensive (18p a click?) but worth it.

They paid the higher rates to get onto the first page becuase that was the only way to get noticed, once they had referral business they dropped the rate and moved to the lower pages.

I know its not the same field but it hopefully gives you a bit of an insight.

Barney088

I've not done this either, the majority of my business now comes from leads via satisfied customers. Last week I saw a new client, who was recommended to me, I saw their next door neighbour two days laster and his sister on theThursday. Technology is great but I've found the old fashioned customer service has paid dividends, there three cost me nothing other than good advice. I always ask for recommendations and referals, I don;t charge a fee and don't advertise. Generally see 4 or 5 new cases a week.

AndrewSmith

Cost per click for mortgages will work out prohibitively expensive. Bear in mind you are up against the largest lead generation company in the UK moneysupermarket, who are paying anything up to £15.00 per click and basically get leads in from across the UK then sell them at £45.00 a go to brokers.

I will PM you with a few Ideas (as I promised a couple of weeks ago)

Getting a website recognised on google etc is a long process however it is not always about paying for placement. I have registered with free local directories which increase your rankings, as does exchanging links with other well placed sites.

I completely agree with Barney, I would say that a good 50-60% of my business is either repeat or referral.

Some brokers in the past have signed up on here hoping to get business, however all you get from it is generally PM's asking you to arrange self cert mortgages. Also don't forget that brokers who openly tout for business will have their posts removed and are usually banned from the site. The driving principle of this site is an arena for the public to openly ask questions of qualified professionals who give their time here for free without persinal gain or interest. I, for example, use this site as a way of release from the normaly hectic working day. I do not need to get extra business from here so am happy, as are the other brokers mostly, to give advice without sales spin.


Hope this helps

Andy

theGrinch

maybe you can be more exact "mortgage London", uk etc. the more exact the less you will pay per click and the more qualified the lead. I know that you can specify a daily budget also and even which areas you wish you ad to appear.

MortgageMamma

Thanks for the feedback guys I appreciate it, perhaps the firm I have contemplated using are filling my head full of rubbish, they recommended an initial budget of 10-12 a day fr one lead a day. Obviously that will just be swallowed up with one click on a popular search term. Oh dear things don't look so good.

Andrew, I understand what you are saying about touting for business on here, and to an extent I agree with you, but if you are giving the someone the benefit of your wisdom and time is it not only fair to mention that if they chose you could help them further without a fee? or is this definately a no go there thing?

Perhaps buying leads in at a cheaper price is the way to go, as I could get perhaps 3 leads for the cost of a click on the site which won't always produce anything. Saything that I bought 6 leads last week from GPMA and they were all no goers.

Feel like I am hitting my head against a brick wall all of a sudden, was very sucessful in my last job

payless

I have sucessfully used pay per click for various marketing purposes, but would not bother with it for mortgages, as Andrew says there are certain sites that "farm" leads just to sell on, plus others ( that my the nature of their " fee " busness model) that are willing to pay IMO silly money for leads

Any comment suggesting " contact me" is a no-no here, although you may find if you post with information you may get some contacts ... although don't rely on it to keep any business a float.

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Sounds like you were a successful "broker" , did you have a planned busness model before you went it alone?- are old clients out of bounds?

MortgageMamma

Thanks for explaining the rules in a more friendly manner, I hope I've not got anyones back up!.I was sucesful yes and still might be - I worked for a company currently listed number 8 when you type in remortgage on google. But without going into too much detail, they were wide boys and they ripped me off big time over about 6 months, never paying any of my commission due! So In november a friend of mine who is an established local IFA asked me to set up an online mortgage company for him and be a shareholder director, which is what I've done. However our website is massively delayed as our web designer works for a large organisation and we are not important to him, I moved into my office yesterday and my broadband won't be working until next week, so I'm trying to work from home amongst kids and husband!! Its a nightmare. This week I'm going to stand outside all the major banks in my town handing out flyers offering customers £100 cashback on completion as there's nothing else I can do until site is up, I might even drive about and post at houses with for sale signs - wish me luck I'm going to freeze to death!

payless

I don't think you have put anyone's back up, as you just asked a direct question ... is this allowed.

Not sure I counted the right numbers in the google search - are we talking a company with ( edited now answered) *** in their address -if so interesting in what you say about them, as their other arm have posted ( some have said) spammed the life assurance section.

I would not wait for a fancy website , IMO its not going to make that much difference, unless you have a USP, and it gets near top spot on searches.. a simple page will do initially


I do wish you luck.. although not sure I would do the things you plan ( high site leaflets) ... does the IFA not have a client base you could approach ??

MortgageMamma

Yes the company I am talking about does have that in their address but the mortgage company is seperate from their life assurance company (thank god!) so I had nothing to do with that. You would think from the site that they were a major player, but what they actually are is as follows (and I take GREAT pleasure telling you this!)

1 mortgage broker (was me, now they don't have anyone only qualified professional in the office apart from directors who didnt do any advice/selling)

1 part time life assurance clerk, unqualified and still learning how to do quotes - the company online earns £35 per application and believe me it costs them a hell of a lot more to administer it.

1 18 year old lad "running" the endowment claims service

2 part time middle aged unqualified ladies running the home emergency insurance

1 part time director

1 full time director that breaks rules, cuts corners and rips of the staff

I'm the third member of staff in a year to walk out due to not being paid and have reported this.

So they are not a major player, they are two small guys struggling to stay afloat as they put their fingers in too many pies all at once and now they are getting burnt. They are just lucky enough to have optimised that website to get a good placing on google, however, even that only got approx 4-5 leads a week as its a mess.

payless

Thought it would be -

They seem now to be all under the same FSA number