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September 10th, 2010

By Marc Diana in: Lead Gen History

Background: Mortgage leads take off, LeadPoint is founded

As the mortgage lead gen business grew, LendingTree and LowerMyBills divided it between themselves.  LendingTree targeted customers with TV and radio spots, with 100+ long-form questionnaires.  LowerMyBills leveraged the Internet targeting customers with short form landing pages with fewer than 20 questions.  With interest rates at historically low levels, the mortgage business really expanded between the years of 2002 and 2004.  During this time, LowerMyBills perfected the art of online performance marketing, establishing it as the business it is today.

For a period of time, LowerMyBills had few competitors in the online space.  Its next biggest online rival was NexTag, the comparison shopping site.  LendingTree didn’t get into online lead generation until it was purchased by Interactive Corp and acquired GetSmart.com in 2003.

In early 2004 I left LowerMyBills with aspirations to start my own company.  Mid 2004 I connected with Per Pettersen of Commission Junction and we discussed the idea of a lead platform.  Together we fleshed out the concept of a lead exchange.  Leveraging aspects of the Commission Junction model and Google’s model the value prop was to aggregate fractional bodies of buyers and sellers and bring them together in a single automated market.

One Response to “Background: Mortgage leads take off, LeadPoint is founded”

  1. By rene on September 10th, 2010

    stagnation@holidays.pursuers” rel=”nofollow”>.…

    tnx for info….

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