5 Proven Strategies to Generate More (and Better) Mortgage Leads
As a mortgage lender, there’s no denying that your job is personal. Guiding clients through one of the most important purchases of their lives is not something you take lightly. And you know that dedicating focused time for each client is key for success.
Yet, on top of all your daily priorities and meeting client needs, you also need to find time to find new clients and grow your business.
And, we’d all agree that times have been a lot trickier as of late. The COVID-19 pandemic has had a tremendous impact on many businesses and how they operate, as hordes of consumers have shifted to online communications and transactions. Being present online is now more important than ever.
Luckily, digital marketing is opening doors for lead generation and it’s easier to get started than you might think!
Digital marketing might seem like an odd lead generation strategy for such a highly-personal industry, but the ability to directly connect with target customers online is too good to pass up.
And as your competitors catch on, you really can’t afford not to explore it.
In order to take advantage of digital marketing, you just need to know which strategies can deliver the best return on investment — aka get the highest number of qualified leads in the pipeline.
Here are our picks for the top 5 digital marketing strategies to generate more (and better) mortgage leads:
Build your online community
The first step to utilizing the power of digital marketing is to begin building your online community. This is mainly done via social media and/or your website.
This is particularly important to achieve the Rule of 7’s, which says: consumers need to hear a message seven times before they will consider taking action.
This means building an audience and continually exposing them to your message makes them more likely to become a customer in the future.
The best way to build this audience is to consistently promote and distribute quality, engaging content. This content should speak directly to your ideal customer; solve their pain points, educate them on how your service is different, connect with them emotionally, and answer their most common questions.
Content can take many forms, and how you create and distribute it will vary by audience. Here are some of the most common forms:
- Customer profiles
- Case studies
- White papers
- Blogs and articles
Engage with your audience and other brands as much as possible to begin building up your online presence (and subsequently, instilling trust).
This can be done via organic social media channels, such as Facebook and Instagram. Still, in recent years it’s become much harder to reach the right people purely through organic content.
Adding paid social media to the mix is essential if you want your content to get noticed, and which business doesn’t want that.
Put simply: the more your audience begins to trust you, the more likely they are to get in touch when they’re ready to begin the borrowing process.
Target users with social media and tailored ads
Besides just being a great online community builder, social media can also be used as an incredibly targeted advertising platform.
Gone are the days when you needed to place an ad in the local paper without knowing whether or not any ideal customers would see it. Social media and retargeting ads make it easy to get your brand in front of people who are already in the market for your services and are actively seeking lenders.
Social media ads also let you target an audience by:
- Hobbies and interests
- Online behaviors
- And much more…
With retargeting ads, if someone has visited your website or a similar website of your choosing, you can create advertisements that will show for that customer on other sites (such as their social media profiles or websites they visit.) This is another effective way to achieve your Rule of 7’s and start bringing in qualified leads.
Reach out via email marketing
Once you’ve connected with potential quality leads, it’s important to stay in touch and nurture those leads through your funnel. Email marketing can help you do just that!
The conversion rate for email marketing in the financial services industry is an impressive 5.4%. That means if you have a list of 1,000 contacts, on average, you’d win 54 new mortgages!
When you consider that email marketing can be mostly automated (which requires little to no work for you after the initial setup) this becomes even more of an attractive option.
Here are just a few examples of what you can do with email marketing:
- Send out a monthly newsletter with a new product or opportunity announcements
- Send market updates
- Promote your blog and any new media your company has earned
- Send out customer loyalty prizes or feedback surveys
- Use email automation to schedule meetings and consultations
Gather and post online reviews
Online reviews are becoming more important than ever. A recent study showed that the average consumer reads 10 or more reviews before feeling they can trust a business. With mortgage lending being such a personal experience, winning this trust is vital.
There are several sites where customers can post reviews for your company including Google, Yelp, and Trustpilot. Be sure to feature your best reviews on your website or write case studies around them to give them even more momentum.
Perfect your website optimization
One of the biggest marketing mistakes made by companies (and even professional marketers) is successfully driving traffic to a website only to lose it to a frustrating or confusing user experience.
Today’s online-savvy customers expect a website to be clear, easy to navigate, and extremely user friendly. If your website is not meeting these needs, customers are likely to simply go elsewhere.
To avoid this, make sure your website is following these user-friendly rules:
- Your website should be designed to be viewed on mobile
- Use clear and prominent calls-to-action
- Keep your images and colors simple and clean
- Your copy should be concise, clear, and in an easy to read color (dark text on light backgrounds works best)
- Display your contact information in an obvious location and consider adding a live chat function
You’re ready to grow
We know nothing is more of a time-suck than sorting through unqualified leads. Using the targeted campaigns and tailored content mentioned above is key to bringing in the type of quality leads you’re seeking!
If you want to free up your time and still achieve the type of explosive lead generation mentioned above, check out our all-inclusive digital marketing and lead-generation system.