The list of things that most mortgage industry professionals are good at is pretty long. However, when it comes to marketing, many seem stuck in the old ways (paper flyers, mail ads, etc.). Embracing some new digital marketing methods can yield great results.
Here are 4 things you can do right now to help increase mortgage acquisitions:
- Build Your Email List
It’s great if you’re using Facebook and other social media platforms to connect with customers and potential customers. But remember, when you’re using a third party platform, they make the rules and own your users. You must be building your own email list so that you control it. You can do that by having lead generation forms on your own website. Ask people to provide info in exchange for something – like getting your newsletter, getting free advice, or taking an action. This will let you capture user information and then use it to remarket to those potential customers.
2. Leverage Your Email Lists
As mentioned above, your email list is one of the most important assets of your business. Email marketing converts potential customers better than any other marketing channel on the Internet. Sending weekly or bi-monthly emails to your list can have a huge impact on your business, by providing relevant and valuable content to your list. Potential customers will look forward to your emails and take the time to read them because they know you can improve their current situation.
3. Target a Specific Audience
It sounds counter-productive to go after a narrow group, but casting a wide net often results in a basic message that is too generic and doesn’t resonate with the audience. Instead, target a primary audience like new homebuyers or those looking to refinance. You can target both groups, but you’ll need to create two separate campaigns.
Use the characteristics of each customer group to craft a tailored marketing message that speaks directly to their needs or concerns. New home buyers are likely looking for someone to guide them through the process, They are willing to pay more for helpful advice and they are often driven by referrals from family, friends and online reviews. Refinance customers are more rate-sensitive, likely to shop around for quotes, have been through the process and may have more mortgage knowledge. Understanding each group and crafting a marketing message that will appeal to each audience will yield the best results.
4. Set up Remarketing and Retargeting
Just because people come to your website doesn’t mean they’ll convert into a customer. In fact, only about 2% of user convert on a first visit. Setting up retargeting means that you can keep track of people who have visited your website and display your ads to them as they browse online. This can bring back over 90% of users by keeping your brand top of mind for them.You can set up retargeting for people reading your articles on Facebook or on your blog and have them fill out a lead form or provide more information about your lending services.You can also have a pop up on your site that engages with people as they are about to exit or that captures their email and send them a relevant email. Also using display ads, you can retarget people on other websites or when reading articles that are related to the real estate or mortgage industry.