Due to a high level of competition and the economy, it can be difficult to attract new potential customers looking for a mortgage. In today’s age, the practice of cold calling is essentially dead and the competition for mortgage lending in the banking industry is as high as ever. This explains why so many mortgage lenders are turning to lead generation companies and new techniques to generate mortgage leads. Below we outline some of the most effective mortgage lead generation strategies that can help you replace or compliment cold calling and other traditional methods.
Switch Up Your Approach
In order to attract customers looking for a mortgage, banks must be willing to change their entire approach to conform to the changing times. Technology plays an increasingly large role in our lives. Therefore, banks must be open to adopting technology in order to stand out. The mortgage lending industry is incredibly competitive, which is why banks must make themselves stand out at every opportunity.
One of the most effective mortgage lead generation strategies is inbound marketing, which refers to strategies that are focused on bringing visitors in as opposed to pushing messaging onto them. With outbound marketing, you are pushing out mass messages in an already crowded space and can get lost among the competition. You can incorporate inbound marketing into your overall marketing strategy by posting and sharing informative content on your blog and social media sites. This content should be optimized with relevant keywords that your potential customers use to search so that it can be found in search engine results. Blog posts should include calls to action and lead capture forms as to generate leads via this method.
IP Marketing is another effective mortgage lead generation strategy. Internet Protocol Marketing refers to conducting reverse IP lookups to identify visitors to a website or blog, or the IP addresses of homes targeted by a direct mail campaign. Some information, such as location and demographics, about the visitor will be recorded. Based on this information, you will be able to deliver custom advertisements to your identified list while they browse websites online. Following up a direct mail campaign or website visitors with an IP Marketing campaign usually leads to a 10-20% increase in response rate. IP Marketing is highly trackable and the analytics will help you prove the ROI of this campaign.
Social Media Platforms
Yet another effective lead generation strategy for banks involves the use of social media platforms like Facebook, Twitter, and LinkedIn. On these websites, you will be able to advertise your mortgage lending services to an audience that is highly targeted based on their geographic location, interests, and more. Social media advertising provides robust reporting including click through rates to your bank’s website that can be helpful when proving campaign effectiveness.
These newer and more highly trackable strategies for mortgage lead generation provide increased lead generation results for banks while also helping to prove the ROI on lead gen campaigns. If you’re interested in lead gen for your bank and proving the ROI on your marketing campaigns, download our free eBook now!