MortgageDaily.com Announces Advertising Innovation
Interactive advertisements to be tested with some stories
April 9, 2001
IRVING, TX -- MortgageDaily.com, a privately held, online mortgage industry news provider, announced that it will test a unique and innovative new advertising method for some of the news stories listed at its website. The method, which it terms as "interactive advertisements," will be available immediately to companies that seek to reach MortgageDaily.com's concentrated user base, which includes mortgage executives, mortgage brokers and real estate agents.
The company indicates that the term "interactive advertisements" is used because users must scroll through a short advertiser message then click "read story now" to continue on to the page where the story is located.
After the initial rush to Internet advertising, some were disappointed with typical banner advertising response rates. While MortgageDaily.com users are highly concentrated and tend to exhibit better click-through rates than less concentrated user bases such as local newspaper sites, the company wants to maximize the benefit to its advertisers.
Because many users do not currently have high-speed Internet access, interactive ads will initially contain no graphics. Instead, a short three-line text message -- as is used in the widely popular email sponsorship -- will be listed on the page along with a link to the story. As a result, the amount of time it takes to load the interactive advertisement will be minimal. When broadband access becomes more universal, MortgageDaily.com plans to utilize more elaborate pages with more images. Eventually, the company plans for the advertisements to function like an interactive television commercial and to include audio & video.
Sam Garcia, who runs MortgageDaily.com as managing editor, indicated that the new advertising method maximizes the results of advertisers while minimizing the inconvenience to users. "While we already were providing some of the lowest cost advertising for mortgage related companies, this new method of advertising increases the chance that users will learn about the services they need from our sponsors," he said.
MortgageDaily.com was registered with Internic in 1998, and the site went live in 1999. The site provides free mortgage industry news to mortgage and real estate professionals. The site is organized into five primary mortgage news categories including Mortgage News Headlines; Subprime Mortgage News; Government Sponsored Enterprise News (Conventional); FHA / VA / HUD News (Government); and Commercial Mortgage News. Other useful pages include the directory of publicly traded mortgage-related companies, national list of local newspaper web sites and an online mortgage bookstore. While its own produced content has been increasing, MortgageDaily.com also directs users to competing news sites if those sites provide a valuable news story about some aspect of the mortgage industry. All of this is currently done with no subscriber fees to users. The site is constantly evolving and forming alliances & relationships with other prominent mortgage industry players. MortgageDaily.com is located in Las Colinas, a futuristic area in Dallas, Texas, where skyscrapers meet canals and lakes.
Details about advertising can be found at www.MortgageDaily.com/advertise.html