Mortgage Services Company Collects 30% More Leads by Adding Vanity 800 Number to Radio & TV Ads

Client Profile:

For 15 years, this mortgage services company has provided lending products to the communities of Utah and surrounding states. They have built a wide customer base through their commitment to maintain brokering practices that comply with State and banking regulations.

Background/Challenge:

During their first few years in business, the company was using their local phone number in advertising and marketing materials to reach their customers.

Solution:

Several years after founding the company, the owner of the company decided that a toll-free vanity 800 number would be more easily remembered by his customers, and activated 1-800-NEW-RATE. They now use the vanity number in their ongoing radio campaigns, and in their television ads.

Results:

According to the owner, the switch from using their local phone number to using 1-800-NEW-RATE produced a 30% increase in the number of inbound phone calls the company received versus what had been coming in on the local number. That was over 13 years ago.

Today, the call volume coming into the vanity number continues to be strong, averaging more than 65 inbound phone calls every month by customers inquiring about their mortgage services. He explains, “In mortgage services, business fluctuates with the interest rates. The incoming calls we get are very valuable to us, and the increase in the number of calls we get each month by advertising with 1-800-NEW-RATE contributes greatly to our success.”

Due to the complex nature of the mortgage services industry, and the various products that the mortgage services company offers, speaking with people is a more effective way of doing business, even with the growth of online and paid search advertising.

According to the company owner, “Customers can visit our website and contact us through the online form, but having live conversations with people is much better in this business. There are too many options and too much information to communicate to someone effectively over an email, so we prefer to talk to our customers to establish a relationship and provide the best service we can to meet their mortgage needs.”

The goal of activating the vanity number 13 years ago was specifically to get more inbound leads. With an immediate and sustaining increase of 30% more incoming calls as a result of advertising with 1-800-NEW-RATE, they are meeting their goals for increased phone conversations, and connections with their customers.