Why Most Brokers Falsely Believe Social Media Lead Generation Doesn’t Work…
…And how you can break that misconception to use social media to your advantage in 2024.
By Adam Dowd | Wednesday, 22/01/2025
In this short post, you’re going to discover:
1. How lead gen agencies offering paid leads have ruined it for most brokers and planners by offering the exact opposite of a referral lead.
2. That thinking the more financial data that comes with a lead means they are “more qualified” - where really it just makes the lead more expensive.
3. The most crucial thing that determines a broker or planner’s likelihood of success using social media lead generation.
But firstly, an alternative view for you to consider…
Lead generation of any kind is not going to immediately make more business rain from the sky. The intent of lead generation is to start new conversations with interested people - in higher quantities and with less effort than if you were to do it ‘manually’.
Now, let’s think about the qualities of a referral lead when you get sent one…
The lead knows who you are and their prior information about you is that you’re good at what you do - because the person referring them told them so!
But you don’t know any of their financial information to begin with - you don’t even know their name or contact details until they end up contacting you!
Then lead gen agencies came along and offered paid leads.
Here the advertising is done under a third party brand and the generated leads are distributed out to the brokers or planners.
In this case, the lead hands over their contact information and even answers a series of financial questions that provide more insight into the lead’s financial situation…
But they don’t know who the broker or planner is by name or by company name and they have no idea if the broker or planner is good at what they do.
All they get is a random phone call from someone they have never heard of - and the broker or planner is against the wall straight away, having to introduce themselves, demonstrate value and keep the lead on the phone long enough to offer further assistance before they get hung up on!
So the qualities of a referral lead and a paid lead are basically the exact opposite - and the results with each are also quite the opposite.
To make matters worse, paid leads are expensive…
Even though we have just worked out that financial information is not the most important aspect of a ‘qualified lead’, it is a great selling point for lead gen agencies to offer seriously detailed financial data along with their leads.
Home loan value, current interest rate, household income, credit rating, etc.
Awesome! Or is it…?
Every additional data point adds to the price of a generated lead.
This is because ‘resistance’ is being added at each step.
But even if you get a lead with a DTI of 3, an LVR of 65%, and a home loan value of $1,200,000…
Or a super balance of $425,000 at age 37 earning $142,000 per year in some below-average fund…
What does it matter if they don’t know who you are, if you’re any good at what you do, and you can’t keep them on the phone long enough to explain why you are calling?!
Enter Broker Branded Leads.
Advertising is done under the broker or planner’s name and business brand.
The broker or planner controls the messaging in the ad - and therefore the type of lead that is attracted.
The lead is given the opportunity to request a date and time to directly talk with the broker / planner,
Or the broker / planner can follow up manually in a very helpful, non-salesy and natural way.
Lead cost is kept low because the focus is placed on the most crucial aspects of a lead; attracting the right lead through the right messaging and having the lead know the broker / planner by name.
Therefore it's a sustainable, long-term system that continues to produce new client conversations 24/7 with very little effort needed from the broker or planner.
Understanding what factors are most important when generating leads and what constitutes initial qualification of a lead is vital when doing paid lead generation.
This is how you break the common misconception that social media lead generation doesn’t work with some not-so-common (but logical) thinking.
If you’d like to learn more about Broker Branded Leads, find out how it works and the results it has produced for others…
What you get
“The Main Thing”
Setup in our ‘pay-per-opportunity’ lead generation program, delivering exclusive, SMS-verified refinance leads direct to your inbox.
One small setup fee, then you’re only charged when a lead hits your inbox. No upfront payments in the thousands and thousands of dollars.
“The Other Things”
1) Free account in our lead nurture & management system, ActiveClient.
Track new leads along the sales pipeline, make notes against each lead, set reminders for follow up.
2) 30-day email follow up sequence in place, branded for you.
Aimed at both informing new leads about the refinance process and getting them wanting to reach out to you, if you haven’t managed to make contact with them yet. Put in place to maximise your conversion rate as much as possible.
What does the broker see
The broker receives real-time notifications popping up in your email inbox and SMS to your phone as soon as a lead has successfully completed our vetting process. The broker notification is sent within minutes.
Here's what the emails look like:
Information includes: Name, Email, Phone (SMS-verified), Preferred Time To Be Contacted, State / Timezone, Loan Type, Current Loan Amount, Estimated Property Value, Current Employment Status, Approximate Household Income.
Standard Filters: Leads are rejected when;
- Current Employment Status = Unemployed
- Loan Type = Fixed, with a fixed period remaining of more than 3 months
- Loan Amount = Less than $250K
What are the pricing options
There are two program options for brokers to select from: the Broker Starter Program which is an initial 30 day period, or the Broker Growth Program which is an initial 90 day period and discounted lead pricing is available.
Broker Starter Program
$249 Setup Fee ($499)
Up & Running in 3-5 Business Days
Agree to 15 Leads
Program Period 30 Days
Access to ActiveClient Lead Management System
30-Day Email Follow Up
Pay Only As You Get Leads!
$120 per lead, incl. GST
Broker Growth Program
Broker Growth Program
$249 Setup Fee ($499)
Up & Running in 3-5 Business Days
Agree to 15 Leads Per Month
Program Period 90 Days
Access to ActiveClient Lead Management System
30-Day Email Follow Up
Pay Only As You Get Leads!
$105 per lead, incl. GST
What to do next...
At this point, I'm going to assume you're in one of two categories:
Category 1 - You Want to Talk to Find Out More
Excellent! Here's your options: give me a call right now - 0403 176 532. I'll be happy to answer any questions you have.
Or you can book a time that suits you by clicking the button below, and we'll catch up on Zoom.
Category 2 - You're Ready To Get Started
Perfect! The first step is to secure your place by taking care of the setup fee, then we will get the Terms of Agreement over to you to digitally sign. The Terms are also linked on the payment page should you wish to review these first.
Once we get you setup in our system (takes 3 to 5 business days) we will schedule a Zoom call with you to run you through how everything will work and test your system.
After that call, you're ready to go live and started receiving leads!
Amateur brokers do this...
Let's say you qualify for refinancing - yay!
Most brokers are just going to get a better rate - which is fine... But there is so much being left on the table!
For example, a $550,000 loan refinanced from 2.69% to 1.89% will save $65,547* in total.
Good - yes. But let's see what professional brokers can do for you.
But wait, there's one more!
Make sure those amateur brokers are not secretly working in the bank's interests!
If you only had 25 years left to pay off your loan, don't let that broker extend it back to 30 years!
You'd pay another $26,314* in interest and take 5 years longer to pay it off!
Who is AskCharlie?
AskCharlie.com.au is like that knowledgeable guy/gal everyone turns to for solid advice.
Here, we provide Aussie families with awesome mortgage slashing information - because we are passionate about Aussies getting the best deal possible.
We also connect busy homeowners with our legendary mortgage brokers, saving you time, effort & stress searching for a great broker!
How do we help...
We scour the country to find the very best brokers - so you don't have to!
No Googling, no dodgy referrals... none of that.
We've already checked our broker's eligibility to get you the best deal, leaving nothing to chance.
If you'd like to access one of our legendary brokers, simply complete the 30-second form on this page.
WHAT IS BROKER BRANDED LEADS?
Broker Branded Leads is a tried and tested lead generation system built specifically for your individual personality and brand.
It consists of a completely custom-built social media ad campaign, including vital lead follow up via SMS and email, with a booking system fully integrated with the your calendar.
It works 24/7 to start new client conversations with the goal of allowing leads to request a date and time to talk directly to you, allowing you to develop those qualified conversations into new client relationships.
We are an ROI-focused lead generation and digital marketing agency like no other.
We provide expert one-on-one guidance and personalised solutions for our clients, at prices that reflect our understanding that in order for us to succeed, you must succeed.
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