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.