When it comes to generating more mortgage leads, there are a number of tricks and tips to keep in mind, but they all come back to one main objective: how do you market yourself while growing your business? This is the mortgage marketing X-factor. If LO’s want consistent mortgage lead generation they need to think outside the box — and stop relying on stagnant, networking events and generic mass-mailings or even cold calls. Networking events, in particular, are excellent at capturing prospects names and information for future reference, but not consistent enough to rely upon for business.
So where can a loan originator turn to acquire more mortgage leads?
Want more mortgage leads? Invest in Marketing Automation Tools for Mortgage Leads
Invest in mortgage marketing automation tools, which can improve referrals from real estate agents and generate a list for staying in touch with your customers. Add a tracking code installation/utilization to re-target visitors with ads after they have visited your website. These tools can help you save time and money, creating a sales funnel for your mortgage leads so you can focus just on the qualified prospects that belong to you and only you.
Test and acquire data
After delivering market-specific ads to your highly targeted audience, use A/B tested leadpages to capture your lead’s information. A/B testing is an ongoing process for marketers to test small changes in their campaigns and then determine which one yields the best results. Make sure your campaigns have an obvious call to action (CTA), and ensure you’re nurturing your customers through the sales cycle.
Be Mobile Friendly and Responsive
Invest in solutions that market your services in a mobile-friendly way. It’s not just recommended anymore – Google favors sites that offer a “mobile friendly” experience. A good portion of your email campaigns is being read on a mobile device as are your website and marketing materials. If any of those are difficult to read on a mobile device, that’s a lost opportunity for mortgage leads.
Want more mortgage leads? Seek Exposure on the MLS
Regardless of the technology you embrace as an LO, don’t forget about the element of human connection when acquiring more mortgage leads. Although not formally recognized as an advertising network, RatePlug’s direct integration into more than 60 MLS networks gives RatePlug connected lenders the ability to connect with more than 800,000 real estate agents – far more than any other advertising platform available. You need to shepherd your customers through the loan process, regardless of technology advancements. According to RatePlug CEO Brad Springer: “People need not only the intuitive expertise of a professional real estate agent, but they also need the professional experience of a loan officer to guide them through today’s mortgage maze.”
How do I generate more targeted mortgage leads?
If you’re looking to generate more targeted mortgage leads, you first need to look into the mirror. How do you creatively market yourself while simultaneously growing your mortgage leads? Generating mortgage leads is one of the most important tasks that you can undertake as a mortgage lender. But in order to boost lead quality with laser-targeted ads, you first need to think about how you can re-target your leads with a focus on a niche market, for example, first-time homebuyersand special financing programs.
Deploy Remarketing ads
Remarketing ads are essential for staying top of mind with potential leads. For most websites, only 2% of web traffic converts readers on the first visit. Retargeting is a way to keep track of people who have visited your websites but failed to take the desired action the first time. After a visitor has landed on your website (either through a Google AdWords campaign, social media, organically or from a website), you want your warm leads to keep your services “top of mind” so that that you can market more aggressively to them and keep them warm. This can be done in a number of ways, for example asking them to fill out a lead form, or gating a helpful white paper that supports your lending services. For the mortgage professional, Facebook retargeting ads can be extremely effective if you have a base level understanding of your audience. You can create a targeted audience based on age, sex, location, interests and behaviors and advertise directly to that audience.
Turn Past Customers Into Brand Ambassadors
Particularly in the mortgage business, customer referrals matter. Without testimonials from actual customers, even the flashiest creative outreach efforts and purchased mortgage leads will fall flat if you don’t leverage the delight of past customers.
Promoting your success cases can both amplify your customer-first mentality and provide real-life examples of how you make the process easier can go a long way in securing new leads. It can also help you secure more real estate agent referrals.
Be Transparent: Publish Your Rates and Products on the Local MLS
As a Loan Officer, you have access to a wealth of data about your customers that enables you to provide the utmost clarity in the homebuying process. The earliest and most effective way to provide this is within the MLS, during the home searching process. When you provide context to help them buyers understand the true cost of a home, and place this information directly on the MLS listing, you effectively put yourself in the room with the real estate agent at every showing. That’s the best form of mortgage marketing!