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Mortgage leads on Facebook? (14)

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Hey folks,

Long time listener, first time caller.

Has anybody had any luck generating mortgage leads on Facebook? I'm working with a local mortgage company in Canada with a large advertising budget. I was hoping I could generate some high volume, but so far it's been pretty underwhelming (low CTRs, few clicks/conversions, etc). That said, FB is still pretty new to me as an advertiser.

Can anybody provide any suggestions on how I can make this work?

Allan

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Get creative. I've done mortgage leads on facebook. Standard copy does not work at all CTR-wise (just like everything else). You have to get super creative to get them clicking.

I'm not going to write your ad copy for you. But yes, you can get them to click if you find the right words.

Test 100 different ad titles / body copy combinations that are completely different from what you're doing now.

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^ Good tip. Check out some of the ad copies being used by LendingTree: http://www.moat.com/search/results?q=lendingtree

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I totally agree, you need to come at them from a totally different angle to get them to click.

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As suggested by the posts above, mortgage campaigns in Canada that have done well were pretty creative. Rather than a regular landing page, try taking them to a Canvas Page with a prominent "Like" button at the top (for organic growth/collecting leads). The various rates being offered with a prominent call-to-action would be below. Emphasize something simple in the copy ("Like" us for better mortgage rates!), have a cute smiling girl in the image, and you should get good CTRs with qualified traffic that converts.

The best way of driving high volumes is by mixing and matching what's already worked for others to create a beast campaign.

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Ad copy? More like image will get them to click. Its been proven so not sure what some of you guys are saying..

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Thanks for the suggestions everybody.

profitable - I had a feeling my ad copy was a little weak. Here's what my ad text currently reads:

"Mortgage Rates Drop Again - Are you overpaying for your mortgage? Find out Now. Free service, zero obligation..."
"Find The Perfect Mortgage - Compare quotes from all Canadian lenders - not just banks. Fast approval, free service."

Can you (or anyone else) give me an idea of what you would do differently to be more creative on the angle?

pancakes - awesome resource, thanks man!

lotsofads - Interesting idea. I've never sent FB traffic to an internal page before. So would this just be for the purpose of getting likes or would I capture the lead on that page as well?

What about the image? As vidivo pointed out and I've read elsewhere, image is a big factor in CTR. Would a cute smiling girl apply only to a male demographic or would it work for both men and women?

Allan

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"Get PAID to Refinance!"
A penny saved is a penny earned, right? Don't give your money away, click here!

"Hate Paying Your Mortgage?"
Quit making banks rich! Lower your rate for FREE and stop overpaying!

"You're Getting Ripped Off!"
Why pay such a high mortgage rate? Lower it now, for FREE!

try stuff like that...

DEFINITELY use women in your ads... hot women, more skin = more eyes = more clicks. Good luck

Edit; YES - women are drawn to pics of hot women (probably more than men)... it's in their biology to be competitive so it's automatic for them to notice and analyze a potential "threat" (other woman)

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I'm just basing this on what I see doing well using our tool.

The most successful mortgage campaign in Canada was doing both - the "Like" button at the top, underneath would be the external page with several quotes (from FirstNational, MCAP, Meridian, ING Direct, etc.) and a "Request Rate" button next to each rate. Clicking any of the buttons would lead you to a simple form requesting information for a callback. You may want to split-test signing up the user through their Facebook data, so submitting their information would just be a click of a button (just a suggestion, the current mortgage campaigns aren't doing this). Keeping the user on Facebook may build trust - increasing conversion rates, and you still show your external page regularly within the Canvas Page (it's just embedded now).

The successful mortgage campaigns in the United States use a cute smiling girl, which is why I suggested that (must be driving higher CTRs). The mortgage campaign in Canada was doing well without girls in the creatives, which is what leads me to believe a Canvas Page may yield higher conversion rates once the person clicks the ad. Combine these things from the successful campaigns, and I'm pretty sure you will have a winner in your hands with higher conversions through the Canvas Page, and better CTRs using cute girls.

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This is incorrect. Sure image is the main factor. but using the wrong copy with a great image will kill it.

I test my best CTR images with 5-10 different ad copys and at times I can double CTR with copy changes alone.

Imagine an image of a woman eating a hamburger and there are two Ad Titles

1. Burgers Are Unhealthy
2. 1 Tip to Melt Your Fat Ass off

you think #2 wouldn't get quadruple ctr? haha

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Im sort of in the same boat allan. Im working with a homebuying company in the uk with a big budget and a big payout for "sell house leads". Works great on search but i have not cracked it on facebook. CTR's and conversions are much, much lower than search. Im going to try the embedded offer on a facebook page and see how it goes. The sheer volume on facebook is soo enticing.

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Hey Tical - I loved your suggestions for mortgage ads so much that I tested a couple of them verbatim in my account (thanks!). For instance, I tested the first one - "Get PAID to Refinance" - with a picture of a hot woman to a male demographic. Very surprisingly to me, it actually performed worse than my "Mortgage Rates Drop Again" ad, with a CTR of 0.032% :-(

And I had to bump that ad up to $1.50/click just to get any traffic. All of the other ads I ran didn't get any traffic at all and kept displaying that little yellow box telling me how much my ads suck. So once again, great suggestions...I guess I just gotta keep testing until I find something that works.

LotsOfAds - I didn't realize you could use FB data to populate a form on an internal fb page...that's really cool. Thanks for providing that resource on how to do so - definitely worth a test.

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Are you using facebook connect to pull the data? Any suggestions on where I could learn more about this or who I could hire to get this setup?

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try a fb fan page, collect emails through it and send them to offerwalls / backend stuff

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