Let’s face it – mortgage marketing isn’t always easy. Taking out a home loan isn’t a spur of the moment impulse buy. Since it’s such a big decision, people spend a considerable amount of time selecting the mortgage company they’ll work with. Improving your marketing strategy will bring you more business, but the key is to market yourself in the most effective ways. You don’t want to waste time on campaigns that don’t deliver the results you want. To help you out, we’re sharing four of the best mortgage marketing strategies that can have a significant impact on your business.
You may be surprised to know that in today’s highly digital age where consumers have the power to scour through Yelp and Google Reviews, they still prefer and value recommendations from people they know. That’s not to say that you shouldn’t strive for positive reviews, but it means that you should also work on strengthening existing relationships and expanding your network. Take every social opportunity from professional networking events to gatherings with friends to build new relationships and foster older ones. The goal of doing this is that you’ll become well-known as a loan officer and people that you know and meet will feel comfortable enough to work with you and recommend you to others. This may be an old-fashioned way of marketing, but it definitely is highly effective and therefore worth doing.
Direct mail has been a preferred mortgage marketing tool for decades. Its targeting capabilities are second to none, allowing you to focus specifically on your ideal audience. Data lists are organized by category (pre-screened, FHA/VA, reverse mortgage, etc.) so that you can market the right loan to the right people. Perhaps one of the most attractive benefits of direct mail is that when executed correctly, campaigns can yield high ROIs. In fact, studies have found that direct mail often produces a higher ROI than other types of marketing, including paid search and email. If you’re not already using direct mail, you really need to consider adding it to your marketing plan.
Strong Social Media Presence
Social media is a significant component of having a successful mortgage marketing strategy. Used correctly, it can be an excellent tool for promoting your business and increasing your exposure. People inherently want to see success and work with someone they believe to be successful, so share photos of your clients’ closings and any impressive stats about your recent work. Create posts to let people know about things they may be interested in such as lower interest rates or the benefits of working with you. Be sure to do so in an interesting way to keep your followers engaged and enjoying your content.
Smart Email Marketing
Email is another tool you can use to enhance your marketing efforts. Include forms to sign-up for your email list on your site to increase your database. It’s much better to grow your base organically and use existing in-house lists as opposed to buying an email list from a data company. Unlike direct mail, it’s much harder to guarantee the accuracy of a purchased email list. For campaigns, you should send messages to prospects based on where they are in the buying process. You can also create campaigns focusing on past clients to remind them of your services, ask for referrals, and see if they’re interested in refinancing or using you as their loan office for their next home purchase. Be sure not to bombard people with too many emails. Today people get upwards of 100 promotional emails each day. You don’t want your message to be another that gets ignored or found annoying, so be smart with how you frequently you send e-blasts out.
To learn more about effective mortgage marketing strategies and marketing with direct mail, contact us today.