As a mortgage broker, it may seem that marketing ideas are limited. Or, you may believe that a majority of ideas about marketing do not apply to your field, and you might find mortgage marketing more complicated than it has to be. You may know that mortgage brokers usually adapt quite well to mastering the unique art of sales. However, you may misunderstand the key principles of mortgage marketing and how you can use them effectively and efficiently.
Did you know that marketing can prove a big challenge, particularly for small broker firms that are unsure how to best use it as an effective and efficient business tool? If you run a mortgage business, a plan of action is crucial to outline the results you want while addressing each marketing element to get the best results.
Real estate marketing and advertising are generally a pre-sales activity. This is why you should consider both online and offline opportunities to reach and communicate with your target market or target audience.
The good news is that there are many tips that you can use to your advantage, regardless of the economic cycle. Note that at any given time, many people are actively looking for a space to call “home.” So, it is up to you to help them find exactly what they are looking for by leveraging the right solutions.
A KPMG report revealed that brokers source nearly two-thirds of mortgages. Suppose you are looking to stand out from other mortgage brokers in such a highly competitive industry. In that case, it is vital that you leverage a range of innovative and creative marketing strategies, such as using mortgage software.
We have outlined seven different marketing strategies that you can use to fund and close more loans.
1. Use Email Marketing
Your email list is perhaps one of your business’s crucial assets as a mortgage broker. If you are wondering why email still works, you are not alone. Note that email marketing can be as personal and targeted as you would like it to be. And that is not all; it is a direct and convenient channel to your current client base.
Did you know that email marketing converts prospective clients better compared to any other digital marketing channel? Email marketing allows you to engage with potential homebuyers in a personal and creative way that blog posts and tweets cannot.
So, sending bi-monthly or weekly emails to your list will likely have a great impact on your mortgage business, provided you are doing it the right way. Email marketing is effective as it does not just keep you top of mind for profitable repeat business; it can create excellent opportunities for social sharing, email forwarding, and referral business. You just have to create and share content that offers value to your email subscribers.
2. Search Engine Optimization (SEO)
You know that almost everybody that you work with, such as your clients, will go to Google to conduct their research before contacting you. While you should pay for PPC Ads, ideally, you would like to get to the point where your business website shows up organically on search engines, like Google and Bing. Read this comprehensive guide to local SEO strategy to improve your search rankings.
Keep in mind that your website is important when telling borrowers and clients about your business. This is because it gives them essential news, information, and updates, and you can share your rates with them. After developing your mortgage broker site, it is important to flex your SEO muscles as it will allow you to put your website to great use. For example, you will have to generate blog and web content full of valuable and insightful information for your clients. Note that you will also use the content to rank high on search engines and increasing your company’s exposure in the process.
Do you want to turn your property management company website into a lead generating machine? Use Podium’s messaging tools to leverage the convenience and ease of texting to get the job done.
And it is worth noting that there’s a lot that goes into SEO. Also, Google constantly updates its search algorithms. So, you should work with a professional who knows and understands all of the different factors you have to get right to show up at the top of SERPs. Use Podium Webchat to connect remotely with your website visitors when you’ve improved your SEO strategy, and more site traffic is seen on your website.
3. Google Ads
Google Ads is another fantastic platform for mortgage brokers. You can use Google Ads to target users that search for specific topics, such as interest rates, at the exact time when they are ready to receive that information. For example, if somebody is searching for the best mortgage rates in Boston, you can ensure they see an advertisement for your mortgage business at the top of Google search results.
The best thing is that you do not need to pay for your advertisement to appear in the search results. This is because you only pay if somebody clicks your advertisement to visit your site. When you combine Google Ads with Google Analytics, the tool can give you rich and valuable insights on who is visiting your page, what they are looking for, and a lot more. Based on these insights, you will be able to make the necessary changes to your landing pages and your advertising campaigns. This will allow you to get the best return on your Google Ads investment.
4. Lead Engagement Software
There is no doubt that mortgage and lead engagement software solutions help lenders and mortgage brokers save time, comply with overwhelming regulations, increase efficiencies, and convert more. Did you know that lead generation and engagement software can help in making your email marketing campaign very easy and straightforward to manage?
For example, you can easily create multiple emails within one marketing campaign at one time for your business. And then, you can also schedule these emails to be sent out on specific dates over several months.
You probably know that one of the important challenges in marketing is that you have many variables to deal with. And if your marketing campaign isn’t successful, you can find it hard to identify exactly where the problem is. Is your site not engaging enough leads? Do you have significant difficulty retaining your clients?
Using the right lead management software, you can easily evaluate your marketing campaign. Note that this will allow you to determine what marketing strategies are working and which ones fall short.
5. Google My Business Reviews
You must have a Google My Business profile if you run a mortgage business. And it is worth noting that your business’ optimized Google profile is displayed with the map when somebody searches for mortgage brokerage service. Also, Google considers that the best results to display are the local ones.
When somebody clicks on your company name, the Business Profile will appear with some basic information, such as reviews, phone numbers, addresses, business hours, etc. Keep in mind that online reviews on Google My Business are not just important from the perspective of search engines but are also important for potential clients.
People usually would like to make sure they hire someone that has an excellent reputation in the market. Use these tips to collect more reviews on Google My Business.
Also, note that it takes good service and diligence when asking your happy and satisfied clients to leave a positive online review for your business. To ensure that you continue to receive positive reviews, you have to make some effort to reach out to all your clients and then request them to share their experience. Texting your clients a link to leave a review on your services is effective and now free with Podium Starter.
6. Expand Your Network
While we can’t deny that social media has become one of the main means of marketing, many people still rely heavily on face-to-face communication in order to determine whether they want to conduct business with your firm. So, offline marketing can still do wonders for your business if you play your cards right.
Did you know that 82% of Americans seek recommendations from their family and friends when considering services and products? This shows that it is vital to get your name out there. And networking online, as well as in-person, is one of the best ways to do this.
Many mortgage brokers do not find it very useful or effective to climb down their social profiles. As a result, people rarely get the chance to know them. So, you must go out there and start networking!
7. Facebook Reviews
Keep in mind that reviews provide credibility as well as proof for your mortgage business. So, you must encourage clients to leave reviews. Good reviews for your firm will mean that prospective clients trust you from the start.
Did you know that search engines, such as Google, take your Facebook reviews into account? So, all ratings and reviews of your mortgage business online help contribute toward your search engine ranking. Learn how you can get Facebook reviews just by asking.
There is no doubt that there are several ways that current clients and potential leads can communicate and engage with your mortgage brokerage business. However, the way they perceive you online is considerably influenced by your Facebook presence.