HOW MUCH FOR A WEB SITE?" ASKS the mortgage owner. It seems a simple enough question. It's a reasonable question that any potential Web site owner would ask--except that it's the wrong question.

This question, "How much for a Web site?" is also one of the biggest mistakes any Web site owner can make; it is significantly worse if this question is asked by someone who is in the mortgage industry. And any Web designer that actually answers that question (addressing only cost) is probably not a Web designer you want.

A mortgage company is on the Internet to conduct business and generate revenue; it is not there to incur expense or simply to "be on the 'Net." A prospective mortgage site should not focus on short-term cost analysis. While Web site expense is an important consideration, two major factors should control your decision to invest: the revenue a Web site can generate and the market share and brand-name awareness a site can create.

Here is a typical scenario from a year or two ago:

Potential Client: "Do you design Web sites?"

Potential Client: "How much will it cost?"

Web Designer: "How many pages will the site have?"

Web Designer: "Yes."

Potential Client: "oh, 10 to 20 pages, I guess--info on our company, a list of our loan products and a page on how to contact us.

Web Designer: "OK, that will be sx."

1. "Well, our in-house MIS guy said he could design a Web site in his sleep."

Potential Client answers--select one or more of the following:

2. "My neighbor's kid just took a Web design class, let me get a quote from him. . . ."

3. "But we have seen complete Web site pricing elsewhere for less than $995.

4. Potential Client thinks, "I could do it myself for less money," but says, "I'll get back to you."

A Web site is worthless

Here is how a conversation with your Web Manager should progress:

Potential Client: "Do you design Web sites?"

Web Manager: "Well, yes--hile the actual design aspect is very important, that is just one component of the overall success for your mortgage Web site. But a Web site is worthless--"

Potential Client: (politely interrupting) "-- Worthless? What do you mean?"

Web Manager: "Let me show you.... This is how most Web page designers design a Web site: You tell them what you want, show them your logo, tell them your favorite color and the designer brings back a few nifty graphic layouts. Your spouse gets involved, so does your secretary, your mother-in-law and your MIS professional, and you finally pick an award-winning design. Then you build your Web site. The result: a nice-looking site."

Web sites need eyeballs

But that is like creating a wonderful television commercial. The TV ad is worthless, unless potential customers see it. It is the same with Web sites. You can spend tens of thousands of dollars designing a Web site, but if no one sees it, your site is actually worthless. It will not be generating new mortgage customers.

For a Web site to be effective, you need to get "eyeballs" to your site. You may have competitive interest rates and great loan programs, but if no one knows your Web site exists, your online mortgage business will be nonexistent. You will be missing a huge marketing opportunity.

Building a successful Web site

Web Manager: "Here is how a Web management company builds successful Web pages. Internet studies show that unless you are a company like ELOAN, which spends thousands of dollars on banner advertising and real-world media, most people will find your Web site on the Internet by going to a search engine and typing in key words to find what they want--such as 'home loans,' 'mortgage loans' or 'mortgage broker.' So we first work with our clients to determine which key words we will build their Web site around.

"Because information presented on the Internet is not the same information as presented in a brochure, we next determine what information to provide to your current and potential customers. People will arrive at your site seeking exactly what they want. So, unlike a TV commercial that interrupts your favorite show, a Web site is a 'TV commercial' that someone has asked to see and wants to visit. You have five to 10 seconds to entice them to stay--to make them your customer. If you don't, there are thousands of other Web sites that can.

"After we analyze the targeted custoers, we complete the Web page layout and graphics. Subtle? Yes. The difference? Huge! The result is a Web site that produces results. Can we make people purchase a mortgage from your company? No, but we can design your Web site so that it delivers them to your site ... so you can do your job."

The real cost of a successful Web site is $0

Web Manager: "That is how we turn a worthless Web site into a valuable site. That is why a well-designed and well-managed Web site doesn't cost anything; because it generates revenue. With professional Web sites costing tens of thousands of dollars, here is what is wrong with the question, 'How much for a Web site?: A well-designed Web site costs you nothing, because it makes you money. You will quickly find out that a poorly designed Web site is actually costing your company money instead of generating revenue each month."

Client: "So the question is not 'How much does a Web site cost?' but instead is 'How many closed loans could we generate with a well-designed Web site and how much market share will we lose by not being found on the Internet?'"

Rod Aries and Robert Farris are co-founders of MortgagePromote.com, Encinitas, California, MortgagePromote.com, an Internet-based marketing provider to the mortgage industry, offers Web site lead-generation services, Internet marketing techniques and search engine management strategies to mortgage brokers, mortgage bankers and lending institutions.