There are many types of buyers in the mortgage world. The 2 main types of buyers are people that want to refinance their current mortgage loan and new homebuyers.
Refinancing borrowers are generally going to be wiser and rate-focused when it comes to choosing the right offer for them. Borrowers already have a mortgage deal that they are in. At the end of the day, the only thing you can offer is a better deal than what they already have or better customer service.
It is up to you to advertise better rates in a trustworthy manner to get your buyers. Borrowers will refinance with your company to save themselves money if the process is easy, possible, and seems legitimate.
If you miss communicating these 3 points, you will miss your sale.
New Home Buyers
New homebuyers consists of a mix of young first-time buyers and people looking for a good deal on their second home. The marketing should be different for the two types of customers.
You should walk first-time buyers through how to buy a home and think about the income level and wants of potential buyers. All potential customers should be put into categories to maximize your campaign’s effectiveness.
Adelaide Mortgage Brokers uses this technique to generate over 70% of their clients online - through a segmentation strategy categorizing their clients by income, knowledge level and life stages.
Update for Millennials
New homebuyers, especially in the next ten years, are going to be millennials. So start gearing your entire business to fit the upcoming generation.
It’s time to stop projecting the changes that you need to make and do them.
Millennials think in a certain way do to the era that they were raised. Millennials are excellent with extrapolating material off of the web and developing incite and opinions about topics and companies. Millennials sometimes struggle with basic home economics and topics older generations are familiar with, such as mortgages and banking. What a great opportunity for you to come in and offer a helping hand to potential customers.Millennials value companies that present information in a concise format. Instead of scaring customers away with unfamiliar terminology and concepts, why not make a self-help tool for millennials to learn more about the mortgage process? Phrase things simply. Create easy forms to fill-out. Make the process non-invasive. Millennials will appreciate that you were able to help them understand a process that it scary and overwhelming and will reward you with their loyalty. If Millennials do business with you, ask them to write an online review. Unlike older generations, Millennials will usually be happy to advertise your business in that way.
Aimia indicates that almost 50% of millennials are willing to promote products or services on social media sites for rewards. According to Kissmetrics, 89% of millennials trust recommendations from friends and family more than claims by a brand. This means that you should increase your business's online reviews.
Team Up with a Big Data Company
Now that you have mapped out your customers segments, it’s time to partner with a big data company. Professional data companies specialize in collecting consumer data. This consumer data ranges from simple mailing addresses to demographic and psychographic data. This data usually comes in the form of lists. The 3 most common types of lists are mailing, telemarketing, and email.
It’s important to work a trustworthy, long-term professional data provider that can guarantee data and works with you to create targeted consumer lists.
For example, ListGIANT has been in business over 15 years and has received the honor of being an Inc. 500/5000 company.
They spcialize in targeted mortgage lists and have several sorting options.
ListGIANT also has a promotion for 15% off your first mortgage list.
With the information that you can collect from big data companies, you can create targeted direct mail marketing campaigns to fit the customer segments previously discussed. This will boost your marketing campaign tenfold.
Run Digital Marketing Campaigns
Focus on: Social Media, PPC, and SEO to improve your digital marketing campaign for lead generation.
Plain and simple- your business needs to be social media savvy.
According to Statista, about 2.5 billion people will use social media by the end of 2018. If you don’t have a business account on the big 3 social media platforms: Facebook, Twitter, and Instagram, you are letting your business down in a big way.
The Pew research center shows that 82%$ of Millenials have a Facebook account.
Those millennials are your future customers. Go get them.
Facebook Messenger has become one of the most popular platforms to engage Millenials. Consumers send over 2 billion messages each month to business. This is the future of communication for businesses so the time is now to start implementing it.
If you want to learn how to reach potential buyers on messenger check this helpful resource Messenger Chatbot Marketing: The Definitive GuidePPC
Pay-Per-Click, is an internet marketing model in which advertisers pay a fee to a host site each time one of their ads is clicked. PPC has the potential to send your conversion rates soaring. Using PPC, you can buy traffic to your site instead of waiting around for people to find it.
SEO stands for Search Engine Optimization. SEO is the process of maximizing the number of visitors to a particular website by ensuring that the site appears high on the list of results returned by a search engine such as Google.
If you are wanting to entice your local audience, choose location specific with SEO marketing keywords on your website and internet ads. Don’t just say that you offer a service. Say that you offer a local service in whatever city that you are in. If a people in L.A. has plumbing problems, they will type “plumber in L.A.” or “plumber near me”. Boost your SEO by answering exactly what your prospect is asking for.
If you want to improve your digital marketing campaign, consider talking to a professional seo service like Giant Partners to improve your seo strategy. A proper SEO strategy makes your company an online powerhouse.
What setsGiant Partners apart from other SEO companies is the ability to offer a larger scope of services that go above and beyond traditional, national search-engine optimization offerings by creating a strong web front and implementing the right keywords for your brand.
Don't Neglect Your Website
We are in the internet era. It’s time to start treating your homepage like it is your actual business front. Would you enter a business that looked dingy, outdated, and like the floor would fall apart? Probably not. Would you trust that business to have up-to-date, quality products and services? Probably not.
You should have a strong business website. People will judge you based on your website even if your products or services are fantastic. Millennials will be skeptical of faulty links, typos, or cheesy formatting. Fortunately it is easy to improve your company website with sites like WordPress and simple web updating and monitoring. It’s worth it to spend at least 10 minutes a day to improve your website.
ListGIANT hopes that you enjoyed our 5 basic tips on how to improve your mortgage marketing. If you have any questions or are interested in our products and services, please call us at (805) 267-1575, or schedule a consultation.