Your mortgage sales pipeline isn’t going to fill itself.
You know you have to get out there and turn prospects into actual borrowers. But what’s the best way?
The bad news is that there’s no magical formula, no silver bullet for marketing your mortgage business. But there’s also good news. Advertising still works. You have the freedom to create an ad that is uniquely your own and that lets borrowers know how YOU are going to give them the mortgage that suits their financing needs. It all starts with your mortgage ad.
How to choose digital or print for mortgage ads? Don’t.
As a mortgage lending professional, you need all the exposure you can get in your target areas. Don’t limit yourself to one type of advertising, but make sure that all of your ads work together. For example, if you create a digital ad, make sure your paper flyers all point to the same website as your digital ad. Also, ensure that your graphics are consistent on all of your ads in order to make them feel like they are part of a unified effort to advertise your mortgage services. Choose one color scheme, logo, and font for all of your materials.
Set your mortgage brand apart.
In the world of mortgages and refinancing, potential borrowers are overloaded with options, both locally and nationally. Why should they come to you specifically? What do your mortgage services offer that no one else does?
This is where you need to develop and refine your Unique Selling Position, or USP, for your mortgage business. Do you offer more kinds of mortgages than your competition? Are you willing to travel to meet the client anywhere? Do you have the fastest turnaround time on paperwork? Whatever it is, make sure your USP is prominently featured on your print and digital ads
Embrace the online market to find mortgage clients.
Sites like Zillow and Trulia are here to stay, it seems, and most of your mortgage customers spend the majority of their time online. Learn how to make the most of these services and advertise there, making certain to tie your printed mortgage marketing to these efforts.
But be sure to reach out to your prospective borrowers on other web sites, too. Digital ads can reach them where they browse and help create that familiarity that comes from repetition. Brand awareness for mortgage professionals can’t be underestimated.
Be where your mortgage audience is.
How does your target market spend their time? Can you offer your mortgage services over coffee, or perhaps in the form of an educational talk at a library? Does the local fun run need sponsors? Perhaps you know which summer concerts are best attended, and you advertise on a local radio station playing that music. Whatever the method, it should be targeted to your mortgage services in the community you serve. When it comes to mortgage ads, the more specific the better. Anything too general, and your borrowers will assume you aren’t talking to them.
Get those testimonials from happy mortgage clients.
Your best marketing tool for your mortgage business lies with the borrowers you’ve already helped — referrals. Getting a customer testimony is crucial, as people tend to trust peer reviews more than ads themselves. Ask for positive Yelp reviews or put specific testimonials on your website. If you have other tools at your disposal, like a toll-free number or a live chat feature on your site, tell the customers vouching for you to mention it (i.e. “When I called your toll free number, I had no idea how helpful it would be.”).
Trace your steps and your traffic to your mortgage web site.
In order to know which method of advertising was truly effective, you’ll need to track your responses. Leave a specific email address on your fliers, set up an 800 number with separate extensions for each ad, or have different extensions on your mortgage website so you know what lead people to you (www.bestmortgagebrokerever.com/radio or /flier, for example). While brand awareness is tricky to measure, it helps lift all your other tactics. Be sure to benchmark how they were performing before and after your branding campaigns.
Create a call to action.
No matter where you run your mortgage ads, no matter which method you choose, include a call to action. Telling viewers to call your toll-free number or visit your website is a great start, but giving them an incentive to do so can help to seal the deal. Whether it’s a special offer, a free consultation, or valuable content the call to action needs to have a result attached in order to mobilize your potential mortgage consumer base.