Minimize Marketing Attrition

Attrition is one of the biggest enemies of mortgage marketing online. So in order to succeed in your online marketing, you have to understand the concept of attrition and work hard to reduce it.

Attrition Defined
According to the dictionary, attrition is “a reduction in numbers usually as a result of resignation, retirement, or death.” Don’t worry. We won’t be talking about death or retirement here. But we will be talking about a reduction in numbers. So let’s translate that definition for online marketing purposes.

Mortgage Marketing Attrition
In terms of online mortgage marketing, attrition refers to the people who do not take the desired action you want them to take. The level of attrition is inversely proportionate to the success of your online marketing program.

In other words, the more people who drop off along the way, the less successful your marketing program will be. Common sense, right?

Each step in the online mortgage marketing process is also an opportunity for attrition, because you stand to lose some people at each step along the way. That’s the bad news. Now here’s the good news. Each point of attrition can be improved, because you can be proactive about minimizing the number of people who drop off along the way.

Here are some examples of attrition points, and what you can do to reduce them.

Attrition Point #1 – Some of the visitors to your mortgage website will leave if they do not find anything of value to them. But you can reduce this by constantly adding valuable resources and content to your website.

Attrition Point #2 – Of those people who find your website, and find it useful, some will leave without making contact with you in any way. In other words, they will not be converted from a visitor to a lead. But you can reduce this by having lead-generation techniques on all key pages of your website.

Attrition Point #3 - Of those people who visit your website, some simply won’t be able to find what they’re after. But you can reduce this by having a well-organized mortgage website with the preferred path clearly identified on the home page.

The point of this brief list is to show you that attrition shadows all aspects of your online mortgage marketing. But it also shows you that for every point of attrition, there is something you can do to reduce it!