Creating an Affiliate Marketing Program for a Small Mortgage Company

[moneydrop2021]

Someone from the mortgage & refinance industry was asking me to create an affiliate marketing program for her employer. Her employer (a small but growing company) has successfully promoted reverse finance offers, and it wants to increase applicants. She wants me to build up the affiliate system and find influencers/performance marketers to increase sales. Below are the main points that I am going to give her:

1. Affiliate management software solutions: 8 Best Affiliate Management Software [of 14 We Reviewed] + Guide
2. Recommended affiliate sales tracker: Voluum
3. For a brand new offer that hasn't been tested, I may suggest a rev share payment where the affiliates may get 40-75% of revenue.
4. For a successful existing offer, the suggested fixed commissions range from $4 (Cost Per Lead) to $50 (Cost Per Action). (Ref: Affiliate Marketing | Affiliate Programs | CPA Offers | OfferVault)
5. Besides possibly being the affiliate manager myself for at least six months, I also want the company to work with a few affiliate networks where they have a list of competent performance marketers/influencers in the mortgage industry.
6. Have all successful creatives ready for the affiliates.
7. Since the mortgage industry falls under financial services, the average cost per lead is $761. (Ref:Average Cost Per Lead by Industry 2022)
8. Another article says that the projected cost per lead is $242 (ref:Projected 2023 Average Cost Per Lead By Industry And Channel By Linchpin)
9. Average Landing Page Conversion Rate: 1.9% (Ref:Financial Services SEO Company)
10. The average CPC in the financial industry is $4.57. (Ref:2022 Google Ads Benchmarks for Every Industry (New Data!))

I would love to hear input from you all.

 

[Graybeard]

Someone from the mortgage & refinance industry was asking me to create an affiliate marketing program for her employer. Her employer (a small but growing company) has successfully promoted reverse finance offers, and it wants to increase applicants. She wants me to build up the affiliate system and find influencers/performance marketers to increase sales.

I worked making hard money mortgages and brokering purchase money Trust Deeds (Mortgages in CA) 40 years ago and am going back into foreclosure buying and equity buying with a national marketplace I am developing.

I think right now it will be an uphill battle for reason of mortgages rate 'shock' .
However, on reverse mortgages --6% even 7% is not that bad but stress the re-fi possibilities should rates drop a lot. Historically, the FED rate has been;

median 2.983%
average 3.696%
1960-today I had occasion to check 10-08-2022

So, 1st mortgages cost +2.5 - 3.5 points above that rate (usually) Point is: The rates are not that out of line.

You need to express that in simplistic terms to potential clients in your advertising to reassure them due to all the bad news lately on rates and mortgages.

 

[hhnhafid]

Unless you have an SEO ranked site with a Crypto/NFT audience, a large email list or a huge ad budget --that is just a carrot and a stick.

 

[RassenDe]

Creating an affiliate marketing program for a small mortgage company sounds like a solid idea. It's a smart way to expand your reach without a substantial upfront investment. I think the key is to find the right affiliates—people who understand the mortgage industry and can connect with potential clients meaningfully. It might also help to provide them with valuable tools and resources, like a. That way, they have something worthwhile to offer their audience while promoting your services. It feels like a win-win for everyone involved. Plus, building relationships with your affiliates creates a network of trusted partners who can help grow your business over time. Have you considered offering tiered commissions or bonuses for top-performing affiliates?

 

[JackGrooms]

Creating an affiliate marketing program for a small mortgage company sounds like a solid idea! It's a great way to expand your reach and bring in more clients, especially if you're working with a limited budget. You could partner with real estate agents, financial advisors, or even bloggers who write about home buying and finance. The key is finding affiliates with an audience interested in mortgages or home buying. Just make sure the program is easy to join and has clear guidelines. If you're looking for some tools to help manage the program, foxbots might be an excellent place to start. They offer some user-friendly solutions that could simplify the process for you.

 

[T J Tutor]

Hey moneydrop2021,

How is this progressing? Are you getting the aff program set up?

 

[rosaurroz]

Someone from the mortgage & refinance industry was asking me to create an affiliate marketing program for her employer. Her employer (a small but growing company) has successfully promoted reverse finance offers, and it wants to increase applicants. She wants me to build up the affiliate system and find influencers/performance marketers to increase sales. Below are the main points that I am going to give her:

1. Affiliate management software solutions: 8 Best Affiliate Management Software [of 14 We Reviewed] + Guide
2. Recommended affiliate sales tracker: Voluum
3. For a brand new offer that hasn't been tested, I may suggest a rev share payment where the affiliates may get 40-75% of revenue.
4. For a successful existing offer, the suggested fixed commissions range from $4 (Cost Per Lead) to $50 (Cost Per Action). (Ref: Affiliate Marketing | Affiliate Programs | CPA Offers | OfferVault)
5. Besides possibly being the affiliate manager myself for at least six months, I also want the company to work with a few affiliate networks where they have a list of competent performance marketers/influencers in the mortgage industry.
6. Have all successful creatives ready for the affiliates.
7. Since the mortgage industry falls under financial services, the average cost per lead is $761. (Ref:Average Cost Per Lead by Industry 2022)
8. Another article says that the projected cost per lead is $242 (ref:Projected 2023 Average Cost Per Lead By Industry And Channel By Linchpin)
9. Average Landing Page Conversion Rate: 1.9% (Ref:Financial Services SEO Company)
10. The average CPC in the financial industry is $4.57. (Ref:2022 Google Ads Benchmarks for Every Industry (New Data!))

I would love to hear input from you all.

So her boss sent her to find someone to create a program to increase applicants and you tell her to team her boss up with an affiliate network. They're all affiliate managers.

 

[moneydrop2021]

Hey moneydrop2021,

How is this progressing? Are you getting the aff program set up?

Unfortunately they scrapped the idea.

 

[Graybeard]

Unfortunately they scrapped the idea.

Timing matters --this is not the right time maybe next year.
The problem is not with the rates it's with the term.
Both US Fannie Mae: FNMA (Federal National Mortgage Association) and Freddie Mac: FHLMC (Federal Home Loan Mortgage Corporation) need to make 50 year amortized mortgage loans, as the prices of homes, and some commercial buildings; are more that most people can afford, and in the latter case; commercial property is not profitable, at today's loan term prices.

AI:

Well, IMHO, the alternative may be a real drop in property values, that could cause a lot of problems; foreclosures, underwater property owners --like we had in the "Great Recession (2009 --).

..............................

 

[Graybeard]

Current trends with interest rates coming down with the FED's manipulations (US):

Data to suggest the Mortgage market will be hot again in the 5% to 6% range soon

The Python chart script visualization

This chart is cheery-picked by me based on current market predictions.

Claude AI says: