The mortgage industry has a form problem. Throughout the sales and marketing funnel prospects are expected to fill out heaps of boring forms that are quite honestly soul-crushing. From the mortgage companies’ perspective as well, these forms are a serious drag. At the top of the funnel, lead generation forms yield poor conversion rates that squander user attention and waste millions of dollars in Google AdSpend. Within this context, conversational landing pages are a much-needed solution. They transform an otherwise impersonal lead generation experience into a conversation and in the process increase conversion rate by a staggering 1.5-3x.
This is what Ally Bank’s mortgage landing page looks like:
The page has a 12-field form on it. If there are two things that I know for sure from working in CRO it’s that people hate filling out forms and the longer the form, the more people hate filling them out. Seriously, for a tool that is so ubiquitous in lead generation, forms are terrible at capturing leads, and understandably so.
There are few things in the world that are as boring as forms.
They are the sort of tool you associate less with a digital marketing campaign in 2019 and more with a driver’s license application at a DMV. Yet for services like mortgages they have been an inconvenient necessity. Mortgage companies need information about their prospects before they can sell them anything and collecting information in the past has required the use of forms.
Conversational Landing Pages are the solution to the form problem.
They flip the paradigm of forms on their head. Rather than showing all the fields at one go they ask for one at a time.
More importantly, they transform the form filling experience from an impersonal one-way process into a two-way interaction between a prospect and the company, and this addition of personality to the process is what makes companies who use conversational landing pages see a 1.5-3x increase in their conversion rate.
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Arnav is the Director of Content Marketing at Tars. He spends most days building bots, writing about conversational design and scrolling through Giphy’s trending section looking for the gifs that go into the Tars Newsletter.