What is your marketing strategy for your mortgage business? Do you feel like you have it under control and you’re finding tons of leads? Or, do you feel like the pipeline has dried up?
Perhaps you’re on the opposite end of the spectrum: You have tons of leads, but your pipeline is unmanageable because there are too many leads to respond to, and you end up losing sales because you can’t get to everything on your own.
As a mortgage company, you need to promote your business in ways that work. Gone are the days of simply running print ads and referral programs with word-of-mouth promotion. No longer can your website be as simple as a picture of your sign and a list of operating hours.
To be competitive in today’s market, you have to do more than just provide excellent customer service. Marketing is a part of every competitive company’s business plan.
Sometimes, though, it can be hard to come up with ideas. Or on the other hand, there may be so many ideas out there that it is hard to figure out which ones are worth spending time on.
What mortgage marketing strategies are going to get you the best yield? For companies with limited marketing budgets, which strategies are worth spending those dollars on? Are there differences between how mortgage companies should market as compared to businesses in other industries?
These are all important questions to be asked by any mortgage broker who is trying to figure out how to spend their valuable time. While there are definitely different strategies to implement, depending on the specifics of your company, there are some things that work for pretty much everybody in the mortgage business who wants to take marketing seriously.
We are here to help!
At Whiteboard CRM, our focus isn’t just on marketing. While other CRMs work with countless industries, our focus is on marketing exclusively for mortgage companies. We understand the ins and outs of the kind of marketing that will get you mortgage leads, promote your company, and turn potential clients into closed deals.
These are strategies that our customers use with great success as they market their services to potential customers. Take a look and see what you could implement to start seeing increased revenue today. And don’t forget to let us know if you have questions!
1. A Great Website With a Good SEO Strategy
Today’s customers expect to be able to trust the companies they work with. They want a long-term relationship with you because they want to view you as a trusted expert. When they get to your website, whether it’s from a social media post, a search engine click or a word-of-mouth referral, they should end up on a clear, effective landing page that gives them the information they need.
You also want your site to be mobile friendly and up to date. There is a reason we talk about “content marketing” these days. You want to provide interesting, relevant content that people find useful and meaningful.
Search engine optimization (SEO) is one of the ways to ensure that the right people end up visiting your website. Lots of traffic isn’t very beneficial if the people visiting your site have no intention of ever buying your product.
A mortgage loan officer who puts together a great SEO strategy will end up with increased organic visits that can turn into great leads.
2. Social Media Content is vital for digital marketing
Social media content is another way to drive organic traffic to your site.
When we say “organic,” we mean traffic that you don’t pay for. There can be costs associated with social media content, such as paying a social media consultant or hiring a writer, but many companies are able to do their social media in-house as well.
Social media content can include posts, photos, galleries, updates, and videos. Visual content is more popular than text-based content, and we especially recommend video content as it is some of the most shareable content you can produce. Videos should be short and well made and include captions as many people watch online content without the sound on.
3. Social Media Ads and Pay-Per-Click Advertising
Another option is paying for advertising space. Some digital advertising platforms, such as Google Ads, use a model known as pay per click (PPC). PPC means just what it says, you don’t pay anything until a user clicks on your ad. Other digital ad platforms, such as Facebook, use a variety of ways to charge, including a fixed cost per thousand views of your ad. This is known as cost-per-thousand and is abbreviated CPM.
A Facebook ad can cost as little as a few dollars, although it is usually worthwhile to do a bigger investment, especially when you are building your online platform.
Outside of social media, PPC ads can be placed on search engine pages so that when someone looks for information on relevant services in your area, an ad for your company shows up at the top of the search results page.
Sponsored ads are a great way to keep your company at the top of mind for potential customers. Once they visit your site, they will get frequent reminders of your services. This will help them get through the funnel and end up closing on a mortgage with you.
4. Mortgage marketing tip: Good Lead Nurturing
Once you have a lead, how do you get that lead from “maybe” to “closed deal?” In real estate, people usually aren’t making impulsive purchases, and so there are a lot of reasons to walk alongside the customer and help them take each next step with confidence. And, of course, in a timely manner!
Lead nurturing is all about communicating with your leads in an effective way, nudging them to complete each next step.
Lead nurturing can be done entirely on your own, with constant phone calls, email marketing campaigns, and email newsletters. Or you can utilize a great CRM to automate the process! This will save you time and frustration as you can focus on the bigger picture of running your company while your leads are nurtured along and ready for you to step in when it’s time.
5. Experiential Marketing
If you want to try something new, check out experiential marketing! This kind of marketing is all about giving your customers some kind of active, positive, brand-building experience rather than simply receiving information in a passive manner.
Experiential marketing can include:
- Sponsoring special events in your community.
- Exciting live streams of unique opportunities that people otherwise wouldn’t get to see.
- Classes and training activities.
- Cool pop-up events.
- Partnering with other organizations and companies to provide cool experiences to the community on the whole.
Experiential marketing is a cool new way of engaging customers and building awareness of your brand, and we highly recommend thinking about how your company might get involved with the community in this way.
What happens when you implement intriguing, professional, and consistent marketing strategies?
This is how you build your brand, raise awareness about your services, and increase your revenue. A haphazard marketing plan will leave you frustrated and overworked.
A great marketing plan? It will give you a chance to take a deep breath as you see the leads come in and convert to sales.