last Updated 1 February 2022

Get More Mortgage Leads with a Simple Split-Test

I often say that when it comes to generating mortgage leads using PPC, the easy bit is getting the potential client to find you on Google and click on your ad. The hard bit is getting that person to convert from being a visitor to being a lead once they’ve landed on your website.

Fortunately, there are a number of things you can do to your website or landing page in order to increase its conversion rate - i.e. increase the number of leads it generates.

And, although this is definitely a challenge, it can also be quite fun because it involves getting to grips with human psychology and understanding more about what makes people tick.

I’ve recently been working with a mortgage broker to improve the results they get from their Google Ads campaigns. And, by changing just three things on one of the landing pages on their website, I’ve been able to almost double their conversion rate. 

In other words, they now get nearly twice as many leads as they did before for the same ad spend. And the quality of these mortgage leads is high too.

How we increased the number of mortgage leads

Want to know how I got this mortgage broker more leads? Well, it was a four step process.

1

First of all I studied their existing landing page and identified three elements which I thought we could change in order to make the page better at generating leads.

2

Then I arranged for the client’s web designer to make a copy of the landing page and apply these three changes. So now we had two versions of the page - the original (version A) and the version with my edits applied (version B).

3

Finally I set up an experiment whereby half of the Google Ads traffic continued to go to version A of the page and the other half got sent to version B instead. This is called a split-test or an A/B test.

4

Once we had run this test for long enough to be sure we knew which page was the winner - i.e. which one had the higher conversion rate - I updated the Google Ads campaign so as, from then on, all the traffic would go to the winning version.

What were the changes that got more leads?

The three changes I made on version B of the landing page were all quite simple, but they had a big impact.

1

Improve the Headline

First I improved the headline on the page by turning it into a proper value proposition that was focused on the outcomes the client was looking for.


The page was designed to generate adverse credit mortgage leads and the headline on the original page simply said “Bad Credit Mortgages”. So it was very plain and factual.


On version B I changed this to “Get a Mortgage Even If You Have a Low Credit Score”. This headline is much better because it kicks off by talking about the outcome the client wants (to get a mortgage) and it acknowledges the pain point they’ve got (the low credit score) and reassures them this won’t be a problem.

2

Remove the Menu Bar

The second change was that I got the designer to remove the menu bar. This made the page less cluttered and meant there were fewer distractions that might stop the visitor filling in the enquiry form.

3

Revise the Enquiry Form

And finally, I changed the enquiry form by reducing the number of questions and changing the wording on those which were confusing.

How the mortgage lead experiment worked

There are two ways you can run a split-test like this if your traffic is coming from Google Ads.

One option is to have two identical adverts and point one of them to version A of the page and one to version B - which is simple enough because each page will have its own unique URL.

Then you can monitor those two ads and see if one of them develops a higher conversion rate over a period of time. If it does, then you know that must be because the page it points to is the better of the two.

The second way to run the test is to use Google Optimize - a free tool which automates everything for you. You just carry on sending all your traffic to the original URL of the version A page and then, behind the scenes, Google Optimize will redirect 50% of your visitors to the new page (version B) instead.

Google Optimize will also keep track of how many conversions (mortgage leads, in this case each page generates and it will let you know when there is enough data to declare the winner.

If you want to know more about how these two methods of split-testing work, check out this video that accompanies this blog post.


Which page got the most mortgage leads?

For this particular experiment, I decided to do the split-testing using two identical ads in the Google Ads campaign.

After just over a fortnight, both pages had received a decent number of visits (around 150) and the difference in conversion rates was quite large - so we were able to determine a winner at this point. Be aware, though, that sometimes the difference between the two pages will be less marked and so you may need to run your experiment for longer until you find a winner.

         So what were the results in this case?

Well, the ad pointing to the original (verson A) page had a conversion rate of just over 11% whereas the ad pointing to version B had a conversion rate of just over 21% - so the new page was the clear winner with nearly double the number of leads generated from the same amount of traffic.

How to get more mortgage leads from Google Ads

Very often, mortgage brokers who want more leads will focus on increasing their Google Ads spend in order to put more traffic into the top of their funnel. But, as the above case study shows, it’s often far more effective and cost-efficient to look instead at how you can squeeze more leads out of the traffic you’ve already got by making some basic improvements to your landing page.

If this is something you’d like some more specific advice on, click here to book a free strategy call with me, or come along to my next Google Ads webinar where I’ll be going into more detail about all the essential ingredients you need for a high converting landing page.

About the author 

David Miles

As a digital marketing consultant, author and trainer, I specialise in helping businesses in the financial services sector use the internet to get more enquiries and increase profits.

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