When starting or revamping a mortgage Web site, learn the tools to make it profitable
Roger Vetruba, CEO, MortgageMovies.com
As published in Scotsman Guide's Residential Edition, December 2007.
Every originator wants to know one thing about the Internet: How can I make more money from it?
You've probably seen numerous advertisements and articles about this topic. But perhaps you don't have a Web site and are considering getting one. Or maybe the one you have hasn't made you a dime.
CONSIDER MULTIMEDIA OPTIONS
Why do people use Web sites to rate-shop? It could be because most sites have a low level of engagement, meaning that they don't give users a reason to stick around for a while.
A page with rich media, such as audio or video, could enable them to spend more time on your site and discover other features. A video that immediately starts speaking to them could be more engaging than clicking through a few pages, and it delivers a deeper message.
-- Roger Vetruba
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Starting or bettering a Web site is just like opening a store in the middle of the desert. You may have a wonderful store, but there's not much traffic, and no one will find you by accident way out there. You also can have thousands of visitors per day, but without a reason for them to stick around or return to your Web site, it's like pouring water into a strainer. In other words, plenty of people will see your brand and content, but you won't make any money.
Making money comes from converting visitors into leads, then leads into applications, then turning clients into return clients and referral sources. Here's how to get started.
Getting it together
When it comes to building a site, you first must choose between purchasing a template-based site and having your site custom-made.
If you're a single originator, a template site can be wise initially. Some template-site providers cater specifically to the mortgage industry and offer pre-written content to save you on startup time. Some even offer your first Web page for free.
Hundreds of other companies provide template kits or packages not specific to the mortgage industry. The upside to these is your site can stand out from your competitors, and it often can be customized more easily. But it also may take more work to set up. Many domain registrars offer hosting and Web site packages that include a domain, design template and hosting, which are the bare essentials needed to do business online.
If you're a company or net branch or determined to have your own look, or you want to serve a specific market, you may be better off having a site custom-built. This can be more expensive upfront, but there are less ongoing expenses. You'll have greater control but greater hassles in setting up the site. Expect the process to take some time. It can pay off nicely, however, for companies looking to create something unique.
The design stage
If you choose to work with a Web designer to determine your site's graphical look, try following these steps.
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Give the designer two or three Web sites that you like, in terms of looks.
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Sketch your ideas on paper. It's OK if it's ugly; it is the graphic designer's job to refine the idea into something of which you're proud.
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Give the designer materials, such as articles and other content, in text form to save yourself time and money.
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Have clear objectives about what the site will do. You may want it to produce leads or simply to display your contact information. Chances are, the designer does not know the mortgage industry or its terms.
Expect the process to take several weeks. The reward is that you can get exactly what you want and have a more individualized presence in the end.
Which designer or site style should you choose? Try the one that has the features you're looking for at a price that works for you.
Site applications and tools
One of the most-important questions to ask yourself next is what else you would like your site to do.
One question could be whether a secure online-application form is a top priority for you. This would allow potential borrowers to submit applications on your site. Some template-Web site providers have it, while others do not.
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