Are you ready to take your mortgage marketing to the next level? Don't miss opportunities to engage with home buyers and expand your target markets. Outlined below are marketing strategies and tips that should be utilized to increase your mortgage customer base.
1. Take a More Active Role
Mortgage marketing is all about bringing reputation and experience to your customers; and in today's digital age, that means taking an active role in how you market yourself. Locally, you can create buzz and expand your brand by joining business organizations, participating in and/or sponsoring local community events, and staying generally active in the community.
2. Provide Meaningful Content
Many home buyers conduct their own research online prior to contacting a financial institution, and it is extremely important to provide useful information to capture them during their search. Home buyers are looking to understand a complex financial process and will appreciate meaningful, educational content provided by an authoritative source. Use your website and related online channels to provide valuable information on tips for first time home buyers, current rates, mortgage rate models, mortgage insurance, calculation tools, and other valuable resources. Providing meaningful content helps potential customers view your brand helpful and an expert on the subject, without having to push the hard sell.
3. Add a Personal Touch
Potential mortgage customers hate the idea of an impersonal process solely based on laying out numbers and assessing risks without regard for personal needs. Creating a mortgage marketing message that is personal and speaks to potential customers has proven more successful. Videos with staff members explaining parts of the mortgage process and how they can help customers through them puts home buyers at ease and can help motivate them to reach out to you when making their mortgage decision.
4. Join Relevant Online Communities
Certain online communities can help you reach more potential customers and develop a strong profile. If you have not already joined sites like Zillow (now merged with Trulia) and Realtor.com, be sure to do so! These sites are not just for realtors; they can help everyone involved in the home buying process market their services. Plus, joining and linking to your site is easy.
5. Measure ROI
Measuring the ROI on your mortgage marketing campaigns is important for future optimization and to ensure your efforts are producing more mortgages. To prove marketing ROI, you should measure your cost of customer acquisition compared to how much you are spending on marketing efforts. Don't forget to factor in important information like customer lifetime value as well. Once you have an accurate value for each customer, calculate ROI by subtracting customer acquisition costs from total customer value, then divide by that value. For more information on how to prove the ROI on your marketing budget, download our free eBook!