Digital marketing grows your mortgage lending business. Here’s how you can close more loans and convert more leads while using your time wisely online.
Mortgage lenders no longer solely rely on newspaper ads or realtor referrals to close more loans. Today, it's all about going DIGITAL. Being a successful lender means embracing the digital era of lending, as well as accepting the need for digital marketing. After all, an online marketing strategy can support your sales funnel and help you close more loans.
"Why bother?" some lenders may ask.
Because today people work, learn and shop online. The same applies to mortgage loans in Flagstaff and everywhere else. Before making a purchase, most people go online to see the type of company they are going to purchase from, as well as what other people say about the company.
This is why mortgage lenders need to establish a strong digital presence using digital marketing.
Why Does Digital Marketing Matter for Mortgage Lenders?
Loan officers don't have all the time in the world to market, especially with the number of deals you're handling. Automated marketing systems takes the load off your shoulders by helping you close more deals, as well as saving you more time.
Digital marketing helps mortgage brokers bring in more business, as well as develop stronger relationships with realtors. It also keeps your clients engaged and informed, which can help your business generate more referrals.
Remember: people are browsing the Internet for your services. If they can't find you online, they'll find your competitors instead. You'll also lose your leads. Digital marketing ensures that people will find your business first before they find out mortgage lenders.
But How Do You Get Started in Digital Marketing?
No one masters digital marketing overnight. It's OK to start slow and with the knowledge that you have (which you should cultivate along the way). Also, the ability to effectively target your audience is one of the best reasons to start marketing digitally.
Start by asking yourself: who is your business's target market? Once identify your audience, practice and see what works. You'll reach more people that are interested in your specific services. You can also monitor your ad campaigns and optimize them to get better results. Track your campaign's ROI to see if your marketing efforts are driving valuable results for your mortgage loan business.
When you track your campaign's performance, it's easier to improve and adapt to more changes. This will save you more time and money.
Also, focus on digital marketing tools that help your business the best. Don't feel like you have to do everything all at once. Start with an idea or two and go from there.
What Tools Should Your Digital Marketing Toolbox Have?
Your website does the marketing for your business online, 24 hours a day, seven days a week. It tells potential customers what you can do, how you can help them and why they should choose your mortgage lending company.
If you want to build a website yourself, use user-friendly platforms like Squarespace or Wix. Both websites offer professional templates that you can easily customize according to your branding. If a DIY approach isn't an option, hire a professional website developer and work with an SEO professional who practices white hat SEO.
What's white hat SEO? It covers techniques that meet search engine guidelines, ensuring your optimized website is not just easy but also pleasant to use. White hat tactics maintain your search engine ranking (SERP) so that your real estate business is always visible online.
Pay-per-click Search Engine Marketing
Fresh and useful content increases your brand's rankings in the SERPsorganically. However, there is a faster way to reach mortgage loan shoppers. Display your ad next to the search results.
Via pay-per-click marketing, you can bid for popular key phrases such as "loan refinancing," "best mortgage fees," or "low-interest mortgages." Depending on the number of marketers and businesses bidding for the same keywords, the prices can range from a few cents to hundreds of dollars! But the good news is, you will only pay when clients click on your ads.
Social media is a no-brainer for any business that wants to put its message out to their audiences. Also, there's more to social media marketing than just posting on Instagram, Facebook and Twitter. It involves learning more about trending conversations and topics within your industry. Posting and adding your voice on your social media platform is always the second step.
Social media offers three important things: a powerful communication channel, borrower insights and conversations influencing clients.
Email marketing is one of the best tools in your digital marketing toolbox. It increases awareness of your brand by reminding people of your business, as well as encouraging previous clients to return. To get the most out of your email marketing strategy, build a stable campaign that enriches subscribers with the right information at the right time. Know what your audience needs to know and help answer their questions.
Digital marketing is one of the best ways to grow your mortgage lending business. At the end of the day, you want to close more loans and convert more leads while using your time wisely. Sleep better at night by continually learning about digital marketing for your business.