For any business to survive, it must have the ability to acquire new customers and retain existing ones.
A business must, therefore, advertise itself and create a brand that customers will be loyal to. This is especially true for mortgage companies. Whereas in the past marketing and advertising were propelled by money which favored big companies, today it is much more different.
There are digital marketing options that can offer better results than traditional channels of advertising at a fraction of the price.These digital marketing options can be beneficial for a loan officer marketing mortgage services.
In this article, we shall discuss some mortgage marketing ideas and the benefits of digital marketing you should look forward to.
Identify your Target Marketing
There are always many people looking to buy a home at any given time. As a new or inexperienced brokerage firm or loan officer, you might be tempted to try and capture the whole group of buyers.
However, it is essential that you identify a niche you can focus your attention on. Ideally, a niche is a group of people who share the same traits and desires that your company can service.
Once you have chosen a target market, it will be easier for you to create marketing strategies that will be more effective as they will be more focused on your ideal clients.
At times, it is possible to target a broader scope of clients. However, you should always focus on them individually. A marketing campaign aimed at a diverse range of clients will not be as effective as intended.
To succeed, have separate mortgage marketing strategies for each segment.
With targeted marketing, you will be able to craft messages that resonate with your target market. Mortgage clients are more likely to solicit the services of a broker who seems to have a great understanding of their needs.
When selecting a niche, you can try to identify under-served segments in your market. In such a niche, it will be easier to compete even with the big players in the industry. You will also be better placed to set yourself as the go-to company for that niche.
Customer acquisition is an essential driving force for business growth. This is especially more important for mortgage lenders as they require a constant flow of new clients to remain in business.
When it comes to marketing for mortgage companies, pay per click advertisements (PPC) is an excellent method of generating high-quality leads.
With PPC advertising, you will be able to leverage the high internet traffic and turn some users into website visitors. Once on your site, they become warm leads that you can convert into clients.
Tips to make the most out of PPC advertising
- Have your PPC ads target local markets- A large proportion of searches are specifically aimed at finding local business information. However, not many companies are making themselves visible via local searches. Take advantage of such an opportunity and use PPC ads to target local clients. The higher the position you occupy in such pursuits, the more quality leads you will be able to generate.
- Have your PPC ads lead to specific landing pages- PPC ads are great at bringing traffic to your website. Your aim should be converting traffic into potential clients. Therefore, you should direct this traffic into pages with specific information that will convince them you are the best mortgage broker available.
Leverage on Content Marketing
Content marketing should not be ignored when contemplating various loan officer marketing methods.
It can be particularly beneficial in the mortgage industry as you will be able to build trust with prospective buyers and eradicate false perceptions and expectations.
With content marketing, you will be able to enlighten your audience as well as answer some of the questions they may have. To get the best results, try a non-marketing approach to content marketing.
Avoid taking an aggressive sales approach. You should try to be as helpful as you can to your audience. If they perceive you as a specialist in the field and genuinely concerned with their needs, they will be more likely to seek your services.
Ensure that you have regular updates to your blog. This will help increase traffic as well as retaining the existing audience. Your content should have value to your audience.
Whenever possible, curate it to address some of the challenges and concerns they may have. Another way of capturing their attention is by posting success stories and tutorials. Success stories will help build your credibility as a company.
Social Media Marketing
With an estimated 2.77 billion social media users in 2019, social media is a tool no business can afford not to use. Mortgage brokerage is all about branding. How you or your company is perceived is very important. Social media is a potent branding tool.
Incorporate your unique touch to your page. Clients will identify with your style, and this will form the basis of your brand.
To make the most of your online presence, incorporate paid ads and sponsored posts on platforms such as Facebook. With such ads, your posts will be targeted to the people searching for similar content on the social platforms.
This means you will be able to access potential clients at the time they are ready to make a purchase. Ensure your posts are regular and relevant to what your target market needs.
A very low percentage of website visitors purchase on their first visit. In fact, 96% of visitors leave without converting on their first visit. This, therefore, means that you are likely to make more sales if you will be able to get visitors to keep returning to your website.
Remarketing is a marketing strategy that entails targeting customers who viewed your products or services but did not make a purchase. With a remarketing plan, you should track the pages on your website and identify clients who showed interest in your products but did not proceed to buy.
Once you have identified them, you can target them with personalized ads that display the items they showed interest in thus making the advertisements more relevant to them.
Initiate an Email Marketing Campaign
Email is a very powerful tool for sales and marketing. Unfortunately, most companies do not know the value of email marketing and those who do, are doing it wrong.
Email marketing has one of the highest returns on investment in marketing strategies. For every dollar spent, the average ROI is $38 which is more than social channels, radio, TV and even paid searches.
Build up your email list of potential clients and interact with them regularly via email.
Through email, you will be able to connect with your audience in a way tweets and blog posts cannot do. The content of your email must be engaging and relevant. Keep the emails concise and one leading to the next.
This will keep your audience looking forward to your next email as you build trust with them.
Search Engine Optimization
Search engine optimization is the practice of increasing the quality and the total number of people who visit your website. This is done by improving your rankings on search engine results pages (SERPs).
Getting a higher placement on SERPs will make your company appear as an industry leader in the sector and help you come across as a reliable brand.
To fully optimize your website, your content should be structured in such a way that it will be easy to understand and navigate.
You should consider the following organizational tools:
Search engines use title tags to know what your content is about. They can be identified as the blue elements that appear in search engines or the text placed in between title tags in HTML documents. Use the following strategies for your title tags:
- Use the keywords- Title tags are the first thing people will see. Ensure that you use the targeted keywords in the title tags and if possible at the beginning. However, do not try to incorporate as many keywords as possible. This is known as keyword stuffing, and it has adverse effects as search engines might penalize you.
- Capitalize on length- The ideal range of a title should be 50-60 characters.
- Make it descriptive. You should structure the title to be as vivid as possible and reflect the content of your post.
Internet users are not very patient, and their attention quickly wanders if it is not captured quickly. They are only interested in specific information.
After opening your page, the headers will be the things that stand out. Often, readers will scroll through the article reading only the headers.
This helps them gain insight into what the post is about without reading it entirely. If they deem it interesting and relevant, they will return to the top and read it through.
This, therefore, means that your headers should be exciting and appealing. They should also incorporate keywords where possible.
You should also include sub-headers to help readers zero in on information.
When it comes to getting likes and shares for your content, readability is critical.
Long wordy paragraphs can be tedious to read. You should, therefore, try to break up your content into smaller chunks.
Whenever possible, use bullet points. They are neat and make the content easier to navigate. However, they should not also be used excessively, as it will make the material seem monotonous.
Incorporate creative visual content
When creating content, you should try to diversify. Images and videos can grab a user’s attention quickly. Information accompanied by visual content is known to be more easily understood as well as boost brand awareness and engagement. They also help improve the overall design and outlook of your website.
Automated Marketing Strategies
Once you incorporate social media and email marketing, you should automate these processes to ensure consistency in your marketing strategies.
Automation does not mean relinquishing full power to bots. All you need to do is enable bots to handle some aspects of your digital marketing.
This will help you free up more time for other responsibilities. You should still make sure that all interaction with clients is still personalized and relevant to them.
When it comes to mortgage marketing, it is vital to create a network. Having a network will help you keep appraised on the changes in the industry as well as get new clients.
Peers from other institutions that offer similar yet different services can be a good source of information on market trends. You can also develop a working relationship whereby you refer clients to each other.
Benefits of Digital Marketing
This form of marketing comes with several advantages. The following are some of them.
With a website and social media pages, you will be able to access a large pool of customers from anywhere in the world.
More importantly, your ads are targeted to the right audience, unlike traditional advertising mediums. SEO makes you visible to the web users looking for services similar to yours.
Easy to track and measure results
For companies to know which advertising channel to invest in more, they must be able to determine which one generates more leads. This is very hard to do with traditional channels of advertising such as radio, TV, and billboards.
However, with digital marketing analytics, you can assess the performance of digital marketing strategies. This accords you the ability to reassess plans that are failing while also giving you insight on which ones to reinvest in.
Digital marketing offers the chance to access your ideal customers at aprice significantly lower than other modes of advertising.
You can have your customer’s database linked to your website.
This way, you will be able to welcome them into your site with ads of what they prefer. The more they visit your website, the more information you will be able to collect from them.
This will make you better placed at formulating special offers for them in the future.
Level playing field
Startups and small businesses have for long been unable to compete with big companies on the marketing front due to the cost of advertising. With digital marketing, you can compete even with the largest corporations in generating leads from any place in the world.
Don’t be Left Behind
There are several mortgage broker marketing strategies that you can use to help you increase the number of leads.
Digital marketing offers excellent potential if used well. You should, however, formulate a marketing plan that incorporates different strategies to get the best results.