One of the essential steps to growing your mortgage broker business is to plan how you will attract mortgage leads to your business.
Do you already have profitable clients, or are you just starting? Does your current demographic share any desirable traits? Do you want to continue targeting the same demographic or go after a different breed of clientele?
If you are a startup, then your marketing approach will take an entirely different route. Startup goals tend to be more short-term, which might be to figure out how to get some sales, build your client base, and decide where you need to be in the next 12-months.
Regardless of your goals as a mortgage loan originator, it’s essential to set realistic goals and create a marketing plan to get you there. Here are a few mortgage lead generation strategies you can try in your marketing plan.
Track Your Mortgage Leads
What gets measured gets improved. Every business, including mortgage brokers, should have a system that helps keep track of leads and where they are in the sales process. This means keeping tabs on every website visitor, social media interactions, phone calls and emails.
Advanced software at affordable prices is available to help you gather data on your mortgage leads and collate it into actionable knowledge.
Heat maps on your website track how well your website is engaging visitors and what they are doing when they land on your site. If a page isn’t living up to your expectations, you will have the information you need to make changes to improve your website’s performance.
Social media posting schedulers and engagement tracking software track and deliver information about how well your social media posts perform.
Email marketing software with advanced sales funnels features can help you stay engaged with your leads, virtually on autopilot.
In short, lead tracking software in all its guises stops you from shooting in the dark when creating your marketing campaign. Using their sophisticated features will not just help you attract more leads into your mortgage broker business. They will also ensure you can close more sales because of your ability to deliver a superior service.
Up Your Social Media Game
Just about everyone is on some form of social media these days, and the most successful mortgage brokers are the ones taking advantage of its huge market reach.
Social media typically doesn’t work the same as traditional mortgage lead generation techniques like paid advertisements. Instead, it creates a platform where you can engage with your demographic and add value through education.
You can also find out a lot about your audience on social media by asking questions, posting quizzes, and analyzing which of your posts receive the most engagement through comments, likes, and sharing.
Social media is all about building a community and developing trust. As any good marketing strategist knows, sales only come when there’s enough trust in a business. Social media can accelerate your efforts in that regard.
Make Your Brand Stand Out
The mortgage industry is a competitive market, and the best way to stay on top is to create a brand that stands apart from the competition.
There are many ways to make your brand stand out but knowing your target audience is critical.
When you understand your demographic and know what they want, you can then develop a mortgage lead generation plan that will deliver what they need.
Start by adding value without a sales agenda.
For example, the mortgage market can be a tricky one to navigate for the inexperienced. A regularly updated blog that provides value through educational material can deliver incredible value to your readers, especially for first home buyers and investors.
It will also give you more opportunities to get found in Google. The more articles you publish, the more your business will show up in the search results and the more loan officer leads you will have arriving on your landing pages.
Getting your brand regularly seen in the marketplace is the one of the best free ways to get new mortgage leads to book an appointment.
Plus, you will also be able to increase your level of engagement on social media when you share the information from your blog.
Make a Personal Connection
Traditionally, a mortgage broker’s website was not much more than a glorified online brochure providing visitors with just the essential information.
However, the modern website can enhance the customer’s journey through personal connection and engagement.
Chatbots allow website visitors to improve mortgage lead generation by engaging with your mortgage leads at a more personal level, whether real or using AI to deliver answers to queries. The interaction is more immediate than email and more convenient than reading a blog post or going elsewhere to search for the information they need.
A sophisticated chatbot can provide virtual assistance to your leads at any time of the day or night. When the conversation gets too complicated for it to handle, it can automatically guide the user to more information, book an appointment, or hand off the interaction to a live person.
Create a Lead Magnet
A lead magnet is something you offer for free in exchange for contact details.
Even though you deliver a lead magnet for free, they still need to offer immense value to your mortgage leads to be effective.
When creating a lead magnet for your mortgage broker marketing plan, consider your target demographic and create a lead magnet that offers value specific to them.
First home buyers would receive value from a guide to budgeting for a mortgage. Investors would benefit from a few tips on the best locations for capital growth or tips on renovating cheaply. Or you could offer your mortgage leads ideas on how to save for a deposit quickly.
People who sign up for a lead magnet are highly qualified prospects, and you can use their email to deliver even more value as you guide them through your sales funnel and ultimately conversion to a paying customer.