If you’re a mortgage broker looking to boost your business and increase your share of the real estate market, it’s time to start thinking about digital marketing. This includes all marketing efforts that use an electronic device or the internet.
This is not an overwhelming term for something complex. Instead, it is a convenient way of referring to the many ways you can leverage technology, social media and online tools to attract customers or clients.
The various types of digital marketing can include: Website design and optimization, search engine optimization (SEO), social media marketing (Facebook, Twitter, etc.), content creation (blogs) and paid advertising (e.g., pay-per-click).
As a mortgage broker, it’s essential that you know what digital marketing is and how it can benefit your business. Digital marketing is a way to reach and engage your target audience through online advertisements. In this article, you’ll learn why digital marketing is an important strategy for mortgage brokers like yourself and how you can get started with it.
First of all, digital marketing enables you to track the success of your advertisements by measuring performance metrics such as impression share, clicks, conversions and cost per click (CPC). This information will help you better understand what’s working well—and where improvements need to be made—so that your ads are always delivering maximum results.
Second of all, digital marketing has a large reach since anyone who uses the internet can see your ads; there are no geographical limitations like there would be with traditional advertising methods such as TV commercials or newspaper inserts.
And finally, digital marketing allows for targeted campaigns based on factors such as demographics and behaviour patterns so that only relevant people see messages about products They’re interested in purchasing from you (i.e., mortgages) rather than wasting everyone else’s time! This means higher returns on investment when compared with competing strategies because of its efficiency at reaching only those who will benefit from seeing them instead of wasting money showing ads that do not appeal to potential customers.
If investing wisely matters most then investing in what works should be our priority not just another way out there spending dollars trying different options hoping something clicks – this approach doesn’t work as we’ve seen over time so stick with an expertly crafted plan tailored specifically for each client needs according to their budget size goals etc before moving forward into unfamiliar territory which may or may not bring results!
Digital marketing is a crucial part of modern mortgage broker marketing. Why? Because it works! Digital marketing allows you to target your ideal customer, measure your results and generate new leads.
A large amount of the population are now using the internet to find mortgage brokers who can help them buy their next home, remortgage or purchase a buy-to-let property. Therefore, if you have no online presence, you could be missing out on significant business opportunities.
Before we get into the nitty-gritty of cost, it’s important to note that digital marketing is a long-term investment. No matter what, you’re going to be spending money for at least 6 months before you see any return on your investment (ROI).
There are a few factors that will determine how much return you can expect from your digital marketing investment, like your ongoing strategy and the quality of the team that has been hired to execute it. But it’s important to remember that any digital marketing agency worth its salt is in the business of helping your company make more money than what you pay them.
In other words, if you’re not working with an agency who can produce results, you’re wasting time and spending valuable money on something that isn’t making a difference for your company.
The best way to answer this question is with a success story. A mortgage brokerage we helped get started on their digital marketing journey by using BluMortgage was able to average 30–40 leads per month in their first year, before they even had an online presence! With the addition of our built in marketing platform, they increased those numbers by 50%!
Now that you have a better understanding of digital marketing, let’s discuss how to use it.
The first thing to keep in mind is that it takes time and dedication. Digital marketing for mortgage brokers isn’t something you do on the side when you have some extra time. It’s not just something you do on weekends or after work hours. If there’s one thing we want to stress in this article, it’s this: putting in all the effort upfront will only help you later down the line.
Before starting any campaign, make sure you define your problem and set goals for what you’re trying to achieve with your digital marketing efforts. Also be realistic about what is possible within your budget and available resources; don’t worry about what other companies are doing—instead focus on where your business needs improvement first.
Some examples would include increasing brand awareness among potential customers; boosting traffic on our website by creating more engaging content; attracting new leads who will convert into customers (and then retain those customers) because they feel like they need us in their lives!
Define Your Audience
Successful marketing is more than just creating content for your website. It’s about figuring out who you are trying to reach with that content and then reaching out to them in their preferred environment.
It’s not enough to say “Our target audience is everyone looking for a mortgage.” You need to be able to narrow it down further:
#1 Who are they? What do they look like, geographically and demographically? Where do they live? How old are they? What kind of work do they do? Do they have a family or live alone? Are they first-time buyers or refinancers?
#2 Where can we find them online? If your target audience doesn’t use social media, there is no reason to post on Facebook and Twitter every single day. Perhaps the best way to reach them is through email—but only if you know what email service providers (ESPs) most of them use and how often those ESPs will let you communicate. And if your audience spends most of their time on Google, Bing, or Yahoo!, creating an AdWords campaign might be the way to go.
Give Your Website Some Love
A user-friendly website is the cornerstone of any effective digital marketing strategy. As your website is the first place people will go to learn more about your mortgage brokerage, it’s important that they have a positive experience while they’re there.
A few things you should consider when updating your site include:
#1Make sure it’s mobile-friendly. With users spending an average of 3 hours per day on their smartphone, it’s crucial that your website be optimized for mobile users. An outdated website will frustrate visitors and could cause them to leave in search of another broker with a better online experience.
#2 Ensure content is easy to navigate. If potential clients can’t find what they’re looking for quickly and easily, then you probably won’t get their business. A good navigation bar allows visitors to move from one part of your website to another as effortlessly as possible, helping them locate the information that’s most relevant to them.
#3 Provide informative content for leads at each stage of the sales funnel. Every potential client is at a different point in his or her journey towards buying or refinancing a home loan; some are just starting out while others have been investigating options for years! Whether someone visits your website because they found the link through an ad on social media or was sent there by their friend who recently worked with you, having relevant content available will help convert strangers into leads, increase lead quality (and therefore speed up closings), and turn one-time customers into lifelong clients who refer other buyers/sellers/refinancers to you regularly!
Make it Personal
You’ve built your website and set up your social media profiles… now what?
One of the most important and often overlooked parts of digital marketing is building relationships with prospects and clients.
To build relationships, you have to connect with people where they are, which means being social. Here’s how it works:
#1 You share helpful content that solves problems for your audience on social media;
#2 People in your target market interact with you (by commenting or liking a post);
#3 You engage by responding and connecting personally with them;
#4 They like what you had to say, so they visit your website;
#5 They sign up for email updates to stay connected; and finally,
#6 They eventually become a client!
Another tip is to connect with your clients through SMS. With an automated feature that will help you not let anything fall through the cracks, you can keep in touch with your prospects and clients efficiently! BluMortgage offers a tool called BluText that is exactly what you need.
Build Your Email List
Email is one of the best ways to reach your customers and prospects. Email is direct, personal (in a non-creepy way), flexible in its approach and interaction, scalable, trackable and cost effective. If this sounds like a good marketing medium for you, it’s time to grow your list!
Email marketing allows you to share insights with customers and prospects on an ongoing basis. It’s an easy way to stay top of mind with these audiences. Frequent communication can make all the difference when it comes to retaining past clients and acquiring new ones.
Here are some suggestions for adding names to your email list:
#1 Ask every borrower for permission to send them emails about home ownership matters at closing. The purchase of a home is an ideal time to build relationships with new clients as well as add them to your email list.
#2 Ask past borrowers who’ve used you before for their permission at least once per year (at the anniversary of their mortgage closing) via email or letter included in their mortgage statement or billing statement from their services.
#3 Make sure your website has a clear place where visitors can sign up for regular updates from you!
Digital marketing is a great way to use digital technology to get the word out about your business. This collection of tools can be used to find more clients, build relationships with new and current ones and grow your business overall. Digital marketing is especially important for mortgage brokers because it’s a very cost-effective way to have a big impact on your bottom line.
Digital marketing comes in many forms including social media, blogs, email campaigns and more, but they all have one thing in common: each one allows you to target specific audiences with greater precision than other forms of advertising, making each effort more effective.
Book a demo today, and find out how BluMortgage can help you grow.
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