More and more, mortgage experts have to market themselves and their services. But even with highly targeted campaigns, it’s a common challenge to be dissatisfied with the resulting leads. From people that aren’t really interested in applying for a mortgage to people who don’t fit the criteria you’re looking for, it’s easy to look at your new sales contacts (or lack thereof) and feel discouraged.
Nowadays, you have to assume that your clients perform significant research before working with any kind of financial expert—but especially so for a mortgage because of the cost and significance to their lives. Particularly for younger buyers but applicable for all your potential leads, the experience of purchasing a property is as important as the cost itself. Borrowers want to feel like they’re not being taken advantage of and that they’re able to ask questions as they go. So how you present yourself online and how you reach out to them matters now more than ever.
Your first step is to create a marketing plan to hone your ideal clientele, niche (if applicable), and business development goals in the short- and long-term. Once you know what you’re looking to accomplish, you can set your sights on reaching the right audience at the right time via the right channel. Whatever you’re hoping for in improving lead generation, there’s lots of ways to improve your marketing techniques.
Make Relevant Content
The challenge with outbound marketing (i.e., marketing that’s aimed out towards a client, like phone calls, emails, seminars, and other outreach) is that it’s hard to know what your customer wants and if your content is what they’re looking for. But if your emails are going unread or the audience isn’t engaging with the content—or if you’re not converting leads into actual business—chances are it’s missing the mark.
A good starting point is to ask a basic question: what problem or problems are my leads looking to solve? For example: do they need to understand more about the mortgage process? Are they trying to determine which mortgage loan officer (MLO) and financial institution is right for them? Are they hoping to refinance and wondering whether it’s worth the time and investment?
Then, solve that problem for them. The best way to do this is via content you create; this is known as inbound marketing (i.e., material that allows a client to come to you by looking at your social media, a website/blog, or even videos). Explain the mortgage process, from beginning to end, with a quick infographic or article. Make an explainer about the value of refinancing. Give insights about the property market and provide insider tips in a blog post. If this sounds intimidating, the content can be short and to the point with a call to action (CTA) to join your mailing list at the end.
Finally, combine your inbound and outbound marketing strategies by sending your content to your sales contacts as potential resources they might find helpful. With this type of content, it’s less immediately about whether they will work with you, but how you can help them. Giving useful information will help a lead feel valued and relieved that you understand their needs—and then they’ll remember you fondly when it comes time to choose a mortgage expert. Read more on repurposing content here.
Update and Optimize Your Website
Even though a website is a more static resource than social media (more on that in a moment), it’s still critical for a mortgage expert to create a compelling online presence. The same goes for a webpage you may have within an institution’s website: wherever people look to find your bio, resume, and credentials is a source to market yourself effectively.
Make your site clear and concise; list your expertise towards the top and explain explicitly how you can help potential clients. Note awards or accomplishments that make you stand out. Give a sense of how you add value—and don’t be afraid to brag a little. Add all your contact details at the top and bottom of the page.
In addition to helping people understand what you do, this will also help with search engine optimization (SEO). In short, as Google and other search engines go through websites looking for content to feature on search engine results pages (SERPs), using keywords in your bio that are common for your business and niche (like “best MLOs in X City” or “MLO for FHA insured loans”) will help potential leads find you more easily.
Create Great Social Media
Having a social media presence is a must for any professional looking to bring in business—and for mortgage experts looking to market themselves, it’s an underrated way to sell themselves as authorities in their area(s). Often, a professional may make dedicated pages that are separate from their personal pages or even eliminate personal social media entirely. Do some research on where your audiences are most active and what type of content you want to make, which will then determine which platforms to use (Facebook, Twitter, Instagram, YouTube, and TikTok are the most popular).
Social media also happens to be a place you can make actual content: you can record videos, post infographics, give tips and tricks, make comments about the market, and/or share photos of purchased properties. It’s easier to make content here than on a website, and you can then have all of your contact details on your website and ask people to follow you. Then, you can convert posts into outbound marketing for leads—sending your videos and posts to potential clients.
Don’t Discount Print
Even though digital is the primary marketing method nowadays, print collateral—like a one-sheet, direct mail, flyer, or print ad—can still be an important part of multichannel marketing. This is particularly relevant if your niche is a specific area; similarly, real estate agents looking to develop local relationships even make use of ad space and billboards in that particular region. Depending on your bandwidth or funds, see what’s feasible, understand what your competition is doing, and assess whether it’s worth the time and effort for you to create something.
Work With Referrals
If you had a good experience with a borrower, they’re your best resource to gain access to their friends, family, and professional network. Keeping in touch with them occasionally without overloading them with texts or emails is a key way to remind them of your expertise and gently ask if they know of anyone else looking to apply for a mortgage.
Marketing automation really helps here: instead of emailing former customers individually, you can write templates, preset some customization so it feels personal (name, date, and so on), and schedule out the emails for particular times. Whether it’s wishing someone well on a particular holiday or congratulating them on the yearly anniversary of their closing, automation helps you stay in touch without wasting time that could be spent elsewhere.
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