Small Business Brief

Marketing, Real Estate

The Ten Commandments of Mortgage Marketing

More than 60% of homes in the United States still have a mortgage to clear. 

While about 37% of family homes in the United States have since cleared their mortgages, the demand for home financing is still relatively high. More Americans are keener on owning their first and second homes today as the home ownership market gradually stabilizes after the recent financial crisis. 

So what are your stakes as you push your mortgage business on a path towards growth? Well, for most lenders, finding a niche in the mortgage financing market can be a real hassle. However, mortgage marketing does not have to be as sophisticated.

With these ten commandments of mortgage marketing, your mortgage business will be on a guaranteed upward spiral soon enough. Read on for insights you can rely on in this journey. 

1. Determine your Target Market 

How else would you try to push your home financing business without establishing your primary market? 

The main mistake most lenders make is to generalize the entire population as a potential target market. If you are keen on pulling the masses, you need to single out an interest group and focus all your energies into introducing products that appeal to them. 

For instance, if your target market is millennials, you need to determine what products and services matter to them. You also need to factor their economic capacity and the loan-repayment structures likely to favor them. You may also need to factor in the difference between new homeowners and refinance shoppers.

2. Use Social Media 

This is undoubtedly the first commandment with a guarantee.  

With over 2.65 billion people on social media, where else would you want to market your financing services if not on social media? 

In the past, there was a general assumption that social media belongs to millennials, who may not be ready to own property yet.

You’ll be delighted that more millennials are committing to buy their first homes at an earlier age as compared to all the other past generations. If you are looking for a deal-breaking entry into the home-financing market, your best trust social media to take you there.

3. You Know No Other Approach Apart from Automation 

With the speed with which the modern markets are adapting to technology, you can’t risk it using any other option when it comes to communicating and linking with clients. Automation is the in-thing in as far as making your mortgage business succeed is concerned.

If you’re not well versed with automation, don’t flinch. 

This process refers to the use of software platforms and technologies to harness the power of marketing via multiple channels. With marketing automation, you’ll not only get to reach out to more prospects but also achieve a level of efficiency uncommon in the current mortgage financing context. 

4. Trust the Usefulness of Content Marketing

There were more than 4.39 billion active internet users in the year 2019. 

For your mortgage business to excel, you must find a way to appeal to this critical target audience. Don’t you worry, with content marketing, your services can easily reach this audience with a simple click.

No digital marketing strategy is complete in the modern setting without imploring the use of content marketing. You can take the lead in the mortgage industry by creating insightful blogs that offer more information about the sector and the services you offer. 

5. Pay-per-Click options

Nothing sells you more out there than being on the first page of Google or other leading search engines. 

For most mortgage business owners, there’s always that underlying apprehension about the use of search engines. The hesitation is due to the view that most potential buyers are old fashioned.

It would help if you tried out options such as SEO as a critical mortgage marketing option to realize how useful Google AdWords can help sell your product out there.      

6. Email Marketing

How many people have you had contact with through email over the years? 

For most mortgage business owners, these may be mere acquaintances. However, for a futuristic business person, this may be an opportunity to expand your customer base. 

You can utilize email marketing to engage with current and potential clients on your services and what sets you apart from your competitors. You can also rely on direct email marketing to update your current and prospective customers on new products, discounts, and promotions. You don’t need to incur significant expenses when sending mass emails, which makes this option cost-effective.

7. Visual Content Is at the Center of Mortgage Marketing 

Human beings are visual. 

Your best bet when pushing your products and services to a new market would be to invest in visual content. However, this is not achievable without an outstanding website design strategy. It would help if you considered focusing on the perfect first impression for your prospects whenever you redirect them to your landing page.

Your landing page is what sets out your first impression when promoting your mortgage business. 

It would help if you considered working with a seasoned website design company that understands what clients like to see. Remember that impression is not the only thing; it is everything in marketing.  

8. Invest in Web Analytics 

Once you’ve put your content on mortgage marketing out there, it shouldn’t be the end of your efforts. You need to keep track of your web content. This allows you the opportunity to understand what works and what doesn’t work for you.  

Website analytics allow you a chance to assess the number of followers, likes, comments, and clicks on your various platforms. You are also able to establish how to customize your content in a way that appeals to your target audience.

9. Start a Newsletter Campaign

On top of launching a targeted email campaign, you may also focus on starting a newsletter campaign.  

You can launch fascinating newsletter editions either quarterly or monthly, depending on your workflow. Newsletters may be useful platforms to pass useful information on trends in the industry.

With newsletters, you have the option to offer subscription services for those visiting your site. Such newsletters may be sent via soft copies or hard copies with updates on important patterns in home financing.

10. Stale is Boring 

Marketing is all about keeping it current. You need to be an active participant in all your platforms if you’re going to keep the traffic flowing. Keep new content coming as consistently as possible to reduce the risk of redundancy.

New content keeps your readers coming back. It’s from such traffic that you are guaranteed to get new customers. 

Keep These Strategies Close To Your Heart as You Venture into Mortgage Marketing

Investors assume that capital is everything when launching out. 

However, the truth is that in businesses such as mortgage financing, you need to also focus on mortgage marketing for your products and services. Without the right services, your home financing services venture will flop. 

It would be best if you discovered ways of ensuring that you remain in the minds of prospective customers.  You can start by sourcing for professional website designers for your home page.

Explore our blog further for more insightful content.