Parramatta Mortgage Broker — Google Ads
A mortgage broker was paying $120 per lead from aggregators — Google Ads now delivers 203% more qualified leads at $38 each.
TL;DR
- Challenge:
- A Parramatta mortgage broker paying $120 per aggregator lead sold to 4 other brokers — 5% close rate.
- Approach:
- Intent-based search, rate comparison landing page with calculator, refinance remarketing during rate cycles.
- Result:
- +203% qualified leads, CPL $120 → $38, lead-to-settlement rate 5% → 18%.
Key Results at a Glance
+203%
Qualified leads
-68%
Cost per lead
+260%
Lead-to-settlement rate
Client Context
Business Type
Mortgage broking (residential + investment)
Founded
2015
Team Size
8 brokers + admin
Market
Sydney Western + Northern suburbs
Revenue Tier
$2.4M commission revenue
Stack Before
Mortgage aggregator platforms, no own digital marketing
The Challenge
All leads came from mortgage aggregator platforms at $80–$120 per lead with no exclusivity — the same lead was sold to 4 other brokers. Conversion rate from aggregator leads was under 5%.
Goals & KPIs
North-Star Metric
Replace aggregator lead flow with exclusive Google Ads leads at 4x lower CPL
Supporting KPIs
Qualified leads/month
Target: 50+
Cost per lead
Target: Under $50
Lead-to-settlement rate
Target: 15%+
Refinance campaign ROAS
Target: 5x+
First home buyer share
Target: 25% of leads
Discovery & Research
Audit Findings
- •100% dependence on aggregator platforms
- •No own website beyond a page
- •No calculator or lead magnets
- •Zero conversion tracking
- •No remarketing infrastructure
Baseline Issues
- •18 qualified leads/month (all shared)
- •$120 CPL
- •5% lead-to-settlement rate
- •No refinance campaign
Competitor Insight
Top Sydney mortgage brokers had rate calculator landing pages, refinance-specific remarketing, and their own exclusive leads at $30-50 CPL.
Audience Insight
Sydney homeowners search "refinance calculator" and "mortgage broker [suburb]" 3-4 months before switching, and respond to rate-change news within days.
Strategy
Core Hypothesis
“If we build a rate calculator landing page with intent search + refinance remarketing, exclusive leads will 3x because Sydney buyers prefer direct broker relationships.”
Positioning Shift
Repositioned as "Parramatta's independent mortgage broker — 60-second rate comparison".
Channel Mix
Google Search — mortgage intent · 50%
High-intent capture
Rate calculator LP · 25%
Conversion + qualification
Refinance remarketing · 15%
Rate-cycle triggered
First home buyer content · 10%
FHB scheme timing
Our Approach
Intent-based search campaigns
Targeted high-intent keywords: "mortgage broker Parramatta", "home loan refinance Sydney", "first home buyer loan" — with ad copy addressing rate comparison and pre-approval speed.
Rate comparison landing page
Built a landing page with a simplified rate comparison tool and pre-approval calculator — giving visitors a reason to engage before submitting their details.
Remarketing for refinance
Retargeted website visitors with rate-change messaging — "Rates dropped — time to refinance?" — capturing homeowners who browsed but did not convert initially.
Phased Roadmap
Weeks 1–3
Foundation
- →Rate calculator landing page
- →Google Ads setup with intent keywords
- →Call tracking + form tracking
- →Refinance remarketing audience
Weeks 4–12
Launch
- →Search campaigns for "mortgage broker Parramatta"
- →FHB scheme content push
- →A/B tested LP variants
- →CPL: $120 → $52
Weeks 13–20
Refinance Push
- →Rate-drop remarketing campaigns
- →Refinance-specific landing page
- →RBA-triggered ad activation
- →CPL: $52 → $38, settlements: 3.6x
What We Built
The Results
Monthly Qualified Leads
Before vs After — 5 Months
| Metric | Before | After | Change |
|---|---|---|---|
| Qualified leads | 18/month | 55/month | +203% |
| Cost per lead | $120 | $38 | -68% |
| Lead-to-settlement rate | 5% | 18% | +260% |
“Aggregator leads were a waste of money — 4 brokers calling the same person. Our Google leads are exclusive and they actually answer the phone.”
Raj S.
Mortgage Broker
Key Insights
- →Aggregator leads are shared — same customer contacted by 4 brokers, close rate 5%
- →Exclusive Google leads closed at 18% because they answered the phone
- →Refinance remarketing timed to RBA announcements had 8x ROAS
- →Rate calculator = qualification tool disguised as customer value
What's Next
Adding SMSF loan campaigns, expanding to Northern Beaches, and testing a mortgage broker matchmaking tool.
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Services Used
Representative case study. Figures illustrate the type of outcomes achievable through these strategies for Australian businesses; individual results vary based on market, budget and starting position.