Marketing Strategies for Mortgage Lenders and Brokers

By Kathryn Hawkins. Financial Services
Marketing strategies for mortgage lenders
Marketing strategies for mortgage lenders   Credit:  Paul Brennan via Pixabay  License: 

Content marketing and other marketing strategies can help loan officers and mortgage brokers connect with prospective home buyers.

Marketing Strategies for Mortgage Lenders and Brokers | Eucalypt

Financial Services

Content marketing and other marketing strategies can help loan officers and mortgage brokers connect with prospective home buyers.

The home-buying and financing process can be confusing and fraught with stress; after all, this is likely the most expensive purchase that most consumers will ever make. Furthermore, the sheer amount of mortgage lending options that are available—fixed, adjustable, 15-year, 30-year, etc.—can make buyers feel like they are reading another language.

For mortgage lenders and brokers, first impressions are everything—but you may not even be aware of whether a prospect is considering your business for help with a mortgage loan or home refinance until they're close to making a decision. That's because given the tight housing market, the majority of home buyers choose to seek a pre-approval from a loan officer to help strengthen their offer.

That means it's more important than ever to build an engaging mortgage marketing strategy that helps educate consumers and builds trust in your brand, so that when buyers are ready to purchase a home, they'll already be committed to working with your company.

And now, with mortgage rates close to a 20-year high, customers are even more wary about applying for a home loan. That means it's even more crucial to offer solid advice and practical tips to people who are on the fence about the financial benefit of buying a home in today's market, so that you can either convince them to move forward, or encourage them to check in when they're ready to make a purchase later on.

Here are eight ways mortgage brokers and lenders can market their services so they are top-of-mind at the time buyers are making their decisions, and can stay connected with customers to improve repeat business.

Hold informational sessions.

Holding educational sessions, either in-person or via webinars, to help walk would-be home buyers through the process will help them understand the mortgage industry and assure them they are in good hands while strengthening your relationship. Providing useful information in your sessions can help you build your reputation as an expert authority on the mortgage business, whether you're a loan officer or mortgage broker. Give your prospects the chance to engage in a Q&A, asking questions about the home buying and loan qualification process and supporting them with helpful, personalized advice.

Align with real estate professionals.

When a prospective home buyer approaches a real estate agent, the first recommended step is likely to seek a pre-approval for a home loan to bolster their offer. That's why building relationships and aligning with real estate agents and brokerages can pay dividends. Creating a pipeline of great referral partners can help you ensure that you'll have incoming leads even when you're not actively looking for potential clients.

Start with good old-fashioned networking, such as attending local Realtor-sponsored events or visiting open houses. You also might consider creating website content and email marketing campaigns specifically for real estate professionals. They want to feel knowledgeable when talking to their own clients, so provide educational information that helps them better understand the nuts and bolts of the mortgage industry.

house, keys, the door

Another best practice is to promote your real estate agent partners on digital marketing channels. When a deal closes, tag realtors on social media to thank them for their hard work, or share their new listing with your followers. It's important to forge strong bonds with this important source of referrals so that they'll keep you top of mind for future opportunities.

Become a go-to source for local news outlets.

To get in front of a bigger audience, look for opportunities to get your name in the news by connecting with local journalists as an expert source. Do the same for local radio and TV programs, reaching out to the producers of the morning show or evening newscast, who are always looking for local guests who can share timely trends about the mortgage industry. Just remember that your goal is to share educational news with their audience, rather than be overly self-promotional.

The best way to build your credibility with news outlets is to be available on their schedule—often their deadlines are tight, and they will turn to the person who answers their call first. Perform well, and they will call on you time and again. And of course, don't forget to share the resulting content on your social media posts and in your email marketing campaigns. Consider subscribing to Connectively/HARO, and follow our tips for becoming a go-to source.

film, television, video

Seek referrals.

A satisfied homebuyer is your best source of future business. Of course, you hope to work with them again, but in the meantime, you want to seek business from their family and friends. That's why the relationship doesn't end once the documents are signed.

Create a special follow-up content campaign for these important relationships by offering tips on home maintenance and information on considering a refinance or HELOC, so you stay top-of-mind with existing customers as the months move on. You might even host a client appreciation event, where you'll have the chance to reconnect with past clients and meet their families, increasing their likelihood of referring you to others.

Solicit reviews and testimonials from past clients.

Don't forget to seek testimonials to showcase on your website and in your content marketing -- in particular, video testimonials offer social proof that can go a long way towards getting a new prospect to trust you.

Prospective homebuyers will place great weight on hearing from past clients that you patiently helped them make the right choice for their personal situation, then made the entire process seamless.

megaphone, loud hailer, loud-hailer

Build a compelling website that demonstrates your mortgage expertise.

As potential customers are clicking around the web looking at houses, chances are good they are going to land on a mortgage lender website, too, to find out more about the process and see how much house they can afford. That's where your site has to speak for itself, offering a repository of information that can help them make a sound decision.

Successful sites should include a wide range of content types, including blog content that explains complex terms like amortization and adjustable-rate mortgages for first-time homebuyers; interactive calculators that help consumers understand their home-buying budgets; and opt-in resources such as ebooks, that will allow you to initiate an ongoing marketing campaign. Make sure that you focus on SEO in your marketing efforts, including a relevant keywords with a local focus so that regional home buyers will find you through Google and other search engines. You might even consider investing in paid promotion for your content on Facebook or Google‘s PPC ads.

It's equally important to track your digital marketing metrics: Make sure that you've properly set up Google Analytics and Adwords Manager, so that you can track acquisition sources, page views, cost per click, and other important metrics.

mobile, smartphone, app

Create a robust content portal on your website.

Consumers won't give up their email address without a reason, so focus on developing a content marketing strategy that convinces them. You'll need to provide content with genuine value to build your list of mortgage leads—for example, Arcus Lending offers ebooks with titles such as “How to Shop Mortgage Loan Rates Like a Pro,” and “Mortgage Preapproval 101.” While you may generate some traffic from organic SEO efforts and your existing contact list, it often makes sense to promote your content with targeted Facebook ads, LinkedIn ads, or Google PPC ads.

Once you have your prospective customers' email address, you can continue to market your services by providing useful, SEO-optimized mortgage industry content throughout the buying cycle, providing customized interactions based on their engagement with your site and content. Consider pieces on local housing trends, interviews with real estate agents, tips on polishing up your credit to help with their mortgage approval, and details on the various loan programs available. Keep an eye out for guest blogging opportunities on real estate and personal finance sites, too.

Having a robust content portal on your website not only helps attract potential customers but also establishes you as a thought leader in the mortgage industry. By consistently providing valuable and informative content, you can build trust with your audience and increase the chances of them choosing to work with you.

chess, board, game

Build a compelling content strategy

When you create content, consider incorporating visual elements such as infographics, videos and webinars into your content strategy. These can be highly engaging and shareable, helping you expand your reach and attract more leads.

It's also important to regularly review and analyze the performance of your content marketing efforts. This will allow you to make data-driven decisions on what type of content performs best, what topics are resonating with your audience, and where you can improve. This information can also be used to refine your target audience and adjust your content strategy accordingly.

Remember that content marketing is a long-term strategy, and it takes time to see results. But by consistently providing valuable and targeted content, you can establish yourself as a trusted source in the mortgage industry and attract more qualified leads to your business.

So don't underestimate the power of content marketing and make sure to invest in it as a key component of your overall marketing strategy. There are endless opportunities for creating relevant and valuable content in the mortgage industry, so keep exploring and experimenting to stay ahead of the competition.

Additionally, remember to promote your content through various channels such as social media, email marketing, and guest blogging. This will not only increase visibility for your content but also help improve your overall website traffic and search engine rankings.

In conclusion, creating informative and engaging content is crucial for success in loan officer marketing. By understanding your target audience, staying up-to-date on industry trends, and consistently providing valuable content, you can attract more qualified leads and establish yourself as a thought leader in the mortgage brokerage business.

Kathryn Hawkins

Kathryn Hawkins

Kathryn Hawkins is principal and chief content strategist of Eucalypt Media. She has worked as a freelance journalist for media publications and managed inbound marketing and content strategy for corporate and nonprofit clients for more than 16 years.

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