Long or Short Form? And Does Size Matter?
A Comparison Between Aged Loan Modification Internet Form Styles
The scope of the real estate mess has certainly led to an abundance of foreclosure prevention service leads all falling under the umbrella of loan modification leads. A large part of the lead generation in the loan modification field occurs on the internet. Remember, loan modification pre-dated many of the services out there that have come along in reaction to legislation, changing loan modification qualifications, foreclosure sale prevention and mortgage payment relief scams and the media throwing gasoline on a fire creating an inherent lack of trust of any loan modification service or firm. With the waters muddied in the loan modification field, forensic audits, litigation, mass joinder, document preparation and do it yourself software and kits have evolved as foreclosure prevention service offerings in the market. The goal of each is to help homeowners stay in their home and/or prevent foreclosure. This does not change the fact that the leads
fall under the advertisement and umbrella of a loan modification lead.
Loan Modification short form aged leads will use a submission form or request for contact form geared to capture basic information. Again to repeat a notion previously offered, the depth of the real estate crisis and foreclosure mess in our economy has created tremendous opportunities for marketing and lead
generation firms with the ability to corral tons of homeowners searching the internet in need of foreclosure prevention related services and advice. Landing pages and websites with short forms typically ask for basic information which includes first name, last name, address, phone number, email address, loan amount and lender. There is nothing wrong with short form aged internet leads and when it comes to aged internet leads the short form aged loan modification internet lead is one of the best short form leads ever produced. Why is this? Because when the lead is generated it is dealing with a defaulted home loan tied to real property with a physical address, the short form used to create loan modification internet leads that become aged short form loan modification leads capture three points of contact. At GenStar Marketing, not only will you hear us say that we believe in the quality of aged short form loan
modification leads, but also you will hear us tell you that the best internet leads include a physical address so that the sales organization’s contact efforts include the ability to choose to direct mail and leads they cannot get in touch with in a short period of time. When firms use phone, email and direct mail to reach their clients, we call this effective monetization of data. Studies show that most companies fail to work their internet leads well and therefore fall short of maximizing their returns. Aged short form loan modification internet lead buyers have a ton of opportunity as a result.
Loan Modification Long Form aged internet leads require a little more than a page of information on the contact form. A larger percentage of internet users searching for information, products and services simply do not have the patience to fill out the extra fields. The long form aged loan modification to a homeowner looking for payment relief will appear to be just like a 1003 mortgage application which is known
to be a pain in the neck. It represents a ton of detailed information and the convenience of the internet to reach out for more information loses its luster when the inquirer/homeowner has extra fields to fill out. Given the previous discussion on long and short form aged loan modification internet leads it is not hard to believe that there are less long form fresh and aged leads than there are short form fresh and aged leads.
If you were thinking that this would point to a disparity in cost between the short form aged loan modification internet leads then we would say you are dead on. Less people bother to fill out the forms with extra fields so the time, effort and dollars spent to generate the long form loan modification internet lead effects both fresh long form leads and aged long form leads. The prevailing thought on long form fresh and aged loan modification leads are that you have a more motivated and responsive buyer. But is that necessarily the case with loan modification internet leads based on what we know about the industry.
It could be, with the following potential pitfall of the long form loan modification internet lead being that, the desperation that leads to filling out a longer form may be the result of someone who has been turned down for a loan modification and looking for their last chance to get something done. This possibility makes the extra expenditure required to pick up an aged long form loan modification internet lead risky and perhaps the extra money for the aged long form should be used to pick up more aged short form loan modification internet leads.
We at GenStar Marketing believe strongly in aged loan modification internet leads. Our experience has told us that as long as the form is not misleading or co-registration and include phone number, email and address then you have a lead that when all the contact methods are employed with consistent follow up and good scripting that will produce some of the lowest costs per close in the industry.