Check this out…
I popped my earbuds in and opened up Pandora to listen to some tunes while I cranked out some writing.
And I see this…
Now that’s an interesting ad… methinks.
Here’s why it works…
- Timeliness in the headline – Notice how the headline “Obama Generously Gives Homeowners a Bailout” creates the sense that there is something new here. The timeliness communicated in the headline gives the prospect a reason to act now.
- Market call-out in subheadline – The subheadline “If you owe less than $625,000 on your home…” identifies the target audience and calls out to them.
- Customized call-to-action – The call-to-action “Tap Your Age” feels custom to my circumstances and (once I tap) I feel like I’ve already started down the process of finding out how much money I can save.
So I click on my age — knowing full well that no matter where I click I’m headed into the same lead generation funnel. Nevertheless, I still clicked on my age because I was compelled to do so. It felt customized for me.
Here’s what I see…
Here’s why it works…
- Eyes pointing at headline – Notice how the cartoon character is looking at the headline that the company wants you to read. That’s not an accident.
- Risk reversal – Right under the headline it is communicated that there is no risk — it’s “Completely Free.”
- The One Big Thing – The prospect wants to know that “One Big Thing” — in this case, what is my new payment going to be? That is communicated front and center on the page.
So, let’s see how this funnel progresses, shall we?
Here’s what the second page looks like…
Notice how they’ve split the front end of this lead generation funnel into very small steps.
In the end they will collect quite a bit of information from me — as you’ll see.
But they begin with baby steps — asking for non-threatening information like…
- Home Type
- Credit Type
- Loan Type
- Zip Code (They’re easing me into giving over my contact information here)
Ok… I’ve moved this far along… it’s time to turn up the heat just a tad.
The lead funnel starts getting a bit more personal… but not about ME … about my home.
Notice the progress bar communicating how close I am to getting what I’m after.
Ok… time to start asking some relatively non-threatening questions about me personally…
But then they ask for my address… but notice the clear communication that “NO mail will be sent.”
Ok… just a couple more simple questions and then they go for the kill… let’s get that name fella…
We also need that email address (not pictured) and phone number…
They ask for this personal, contact information at the end now that I’ve invested my time into the process and then reinforce the benefit of giving out this information with a the call-to-action “Calculate your FREE results.”
Notice the communication stating “By entering your number you consent to be contacted…”
TRANSLATION: We’re going to call you.
And call they did… within seconds. We’ll get to that in just a second.
First, I click on the big “Calculate your FREE results” call-to-action and land here…
They’ve got my contact information… it’s time to start making offers.
The offer to see my credit score is very relevant based on my clear desire to refinance my home.
Notice the use of trust symbols like the Better Business Bureau at the bottom of the offer – all intended to communicate security.
I click the tiny “no thanks” link and move on to find the promised new mortgage payment amount.
While looking at this screen I got a phone call from Quicken Loans.
It was a live human being (Blake) at Quicken Loans.
I didn’t answer (I’m not actually looking to refinance) but here was his voicemail…
“Hi Russ, this is Blake calling from Quicken Loans regarding the request for refinancing information you submitted online. Could you call me back as soon as you get this because you might qualify for our top-tier pricing. Just call me back today on my direct line which is 313-373-XXXX or toll free at 866-349-8543, I’ll be in the office until 8 pm and I look forward to speaking with you.”
But this phone call is not the full extent of the follow up mechanisms triggered by this lead generation campaign.
Remember — they also have my email address.
Here’s the first one that rolled in from Quicken Loans…
Even better would be to send this email from Blake at Quicken Loans — but this email does the trick. This email opens with timeliness… telling me I should act now because “Rates are incredibly low…”
Then, the email focuses on the ease of getting started with my new loan with language like…
“Our online tools and technology make refinancing super easy.”
Then… they mention something critical — speed to results by stating…
“With that convenience comes speed – we close the majority of our loans in 30 days or less.”
The next morning I received this email follow up from Quicken Loans…
There are so many things going on here…
- Personalization in the subject line
- Using “Per your request” in the opening to remind me that I gave them permission to contact me.
- Taking me “off the hook” with language like “we understand sometimes life gets busy.”
- Restating how easy it is to get started.
- Lots of trust elements (J.D. Power Customer Satisfaction, 95% of our clients would recommend us) and social proof with the “Happy Clients” section
- Numerous calls to action to pull me back into the funnel.
All in all this mobile lead funnel is fantastic.
I’m sure they are testing a number of different mobile ads to move prospects into this funnel.
That said, the one area of improvement in this funnel is in the ad scent department.
Let’s look at the original ad that set off this lead generating machine…
The prospect that responds to this ad is interested in…
- A new opportunity to refinance where (likely) they haven’t been able to in the past
- Saving money on their mortgage
Although the second benefit (saving money) continues to be communicated throughout the lead generation funnel — the first (Obama Bailout) is never mentioned again.
The original “scent” is broken and this will cause prospects to bounce out of the funnel.
In fact, this same lead generation funnel is used to drive leads for home equity loans, new mortgages, etc — not just refinances and certainly not the Obama refinance program.
P.S. As I’m finishing this post up — I’m getting another call from Blake over at Quicken Loans. Poor guy. 🙂
