Over a year ago Google began testing a mortgage rate search within their Merchant Search platform in the UK. Not much more then a few blog post here and there discussed the new search tool. Most couldn’t imagine it going much further then just a simple test and the fact that it was circled around generating calls, not specifically data leads, added to the passive concern of so many.

With the new LendingTree suit against Mortech and the revelation of Google’s continued interest in breaking into the mortgage lead generation industry it has proven that the UK test was not performed on a whim and they did have long term intentions. What can be debated is what those intentions truly are. I think to do this we have take a look at more then simply the disheveled mortgage lead generation industry, but the online marketing industry as a whole.

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A study conducted by GlobalSpec that surveyed 555 Marketing and Executive level managers found that while they were focused heavily on lead generation and customer acquisitions they had a very difficult time actually finding enough leads.

More then half surveyed said “there are too few marketing resources”, however they also said that buying quality leads was far more important then receiving quantity. There simply are not enough quality sources according the findings. The study claimed that majority of the responders said, “generating enough high quality leads for sales” was a major issue as well.

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I am not sure if you have noticed the trend of TV commercials that supposedly trick the consumers into believing they are eating food from a fine dinning restaurant, but are in fact eating fast food. These commercials have been driving me nuts. Let me tell you why.

First, if you haven’t seen the commercials here is a good example:

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According to MarketingSherpa’s Business Marketing Survey, lead nurturing is an area that is a point of pain for many businesses. They asked 980 marketers in a variety of industries if they have a process for lead nurturing. Surprisingly, only 56% have a solid plan in place.

56% have some defined lead nurturing process in place, but only 36% of them are satisfied with that process. I believe that most lead nurturing programs out there are not really as successful as they could be in optimizing communications during the sales cycle.

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It seems that things like to come around in full circle. Maybe we don’t actually come full circle. Maybe we simply get to a point where objectives become clear again and the things that where cluttering our vision and making our judgments questionable got so fuzzy that we were forced to get back to the basics.

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Another company that was covered here and interviewed here few months ago, SmartHippo made an announcement today. The community based mortgage shopping network announced that it has created an advisory board that included a number of industry experts.

Founding advisory board members include Lori Collins, former Senior Vice President and General Manager for LendingTree Exchange; Bill Rice, CEO of Kaleidico; and John Philip Green, Founder and CTO at LearnHub.

George Favvas, CEO of SmartHippo.com, said: “We’re excited to have some of the smartest and most accomplished business and technology leaders join our advisory board. Their expertise in lending, customer acquisition, social media, and consumer Internet will be invaluable assets as we grow our business.”

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So, who has the most loyal customers in financial services? Here they are according to the Brand Keys 2007 Customer Loyalty Engagement Index.

Bank

1 Wachovia/
Washington Mutual (tie)
2 Bank of
America
3 JP Morgan Chase
4 PNC/Bank of NY (tie)
5 Wells
Fargo
6 CitiCar Insurance1 Geico
2 State Farm
3 Allstate
4 Nationwide
5 ProgressiveCredit Card1 Discover
2 Capital One
3 Visa
4 American Express
5 First
USA/MasterCard (tie) Insurance1 NY Life
2 ING/The
Hartford (tie)
3 MetLife
4 Prudential/Travelers (tie)
5 AXA
6
AetnaMutual Fund1 T. Rowe Price
2 Fidelity
3 American Funds/Janus (tie)
4 Putnam/Vanguard (tie) On-Line Brokerage1 Scottrade
2 Schwab.com
3 Fidelity.com
4 TDAmeritrade.com
5 ETrade.com
6 MerrillLynch.comSource: Brand Keys 2007 Customer Loyalty Engagement Index

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I am not sure when the last time you have been to you local shopping mall, but if you’ve been to one in the last 6-9 months I am sure you have noticed a specific store full of buzz. People are slammed together inside the large store chatting with store attendees, testing out the products and quite literally pushing other shoppers out of the way.

If you haven’t been to the mall in a while I will try to fill you in on the huge buzz that is the Apple store. It is simply crazy! There are grandparents, parents and children all enjoying the store and its products. Aside from Apple offering amazing products they have changed the way people shop. They added convenience to process! Not only is Apple an innovator of technology, but they are also innovators of the consumer experience.

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The sky is falling! The Sky is falling!

ComScore released numbers stating that Google’s search marketing produced a 0% increase from the previous year. A complete article can be found at Silicon Alley Insider . What does this all mean? Well, it means that Google isn’t recession proof and they too feel the pain when consumers aren’t buying or clicking in their case. According to Alley Insider Google began seeing a decrease in growth starting in October of last year.

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This is one of the biggest mistakes I see lead buyers making with their leads. An Internet leads, if generated with any level of integrity, is not a cold call. It is an initiated, hand waver!

Think about what a quality Internet consumer lead implies:

• There was a need
• They have done some level of research (i.e., did a search, read an email, had a discussion)
• They provided private contact information

They are asking to be called so don’t treat them like strangers–complete the experience. Read the full story

I am back after a little hiatus and many of you have been wonder where the only out spoken consumer advocate on the Internet has been. Well, I can only tell you that lead providers should beware! I have been on the prowl scouring the Internet for offensive behaviors. If you are out there foregoing the rights of the consumer please change your ways or I will find you and call you on it.

In the in the spirit of the NFL playoffs I am going to throw my first penalty flag at a specific lead generator for unnecessary roughness on the consumer. It is my opinion that there is a fine line of how many offers you can present to a consumer in one form and how many different types of leads you can generate from one consumer. A person fills out a mortgage form to receive quotes for a mortgage and that is it. Although a form may be able to present a few options for the consumer and possibly offer them credit repair solutions if applicable and of course only with their consent.

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While researching search terms and keyword trends there are a two that I will always check out of curiosity and the they are “Mortgage Quotes” and “Mortgage Leads”. I believe the last time I checked these two keywords was over 3 months ago, possible much longer. Either way, it is worth noting for lead buyers the results I found.

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