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Turn Loan Shoppers into Buyers

By Jim Bruene on October 10, 1997 10:25 AM | Comments (0)

One of the complaints of Web users and publishers alike is “information overload.” It’s hard enough to find the information you need the first time, but how do you find it again six months later when you need it ASAP? The browser’s bookmark file helps, but as the bookmark file balloons in size it can become nearly useless.

As a Web marketer your job is to develop techniques to get shoppers back to your site when they are ready to buy. Or even better, make it possible to buy without even revisiting your Web. Once you’ve identified a hot prospect, someone using your payment calculator for instance, offer something of value to get them to give up their phone number and e-mail address. Then use e-mail, direct mail and telemarketing to close the deal.

Rate update e-mails are one of the least expensive and best ways to keep in touch with loan shoppers. But not everyone wants to sign-up for another barrage of e-mails. And even among those that sign up for the rate update, how do you separate the merely curious from the serious prospects?

You need more than one device to engage loan shoppers. Although Salem Five has not yet implemented an e-mail update program, it is using no fewer than seven offers to get mortgage prospects to identify themselves. These are in addition to www.homelistings.com .

InteractiveLending05.jpg

 

InteractiveLending07.jpgSalem Five’s online coupon. 

Salem Five (Salem, MA; $978 million) has been running a personalized coupon (above) since mid-95 and it still ranks as a Best of the Web for its simplicity and elegance. In a world of complicated mortgage products and 10-page loan applications, this offer is a breath of fresh air. Just enter your name, phone number, e-mail address, hit print, and within a few seconds you’re the proud owner of a $100 off closing costs coupon

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