Generate Mortgage Leads: Strategies For Success

There are many ways to generate mortgage leads, and it's important to diversify your marketing strategies to build a steady flow of new business. Online advertising is the most common method, but it's not the only way. You can also try direct mail, telemarketing, and digital marketing. It's also a good idea to list yourself in local directories and online search engines, and to promote your business through community networks. Building a powerful referral network is key, and you can do this by creating a company page on LinkedIn and doing your own cold outreach. You could also consider buying lead lists, although this can be expensive and may not always be up-to-date.

Online advertising

Pay-per-click (PPC) Advertising

PPC advertising is a popular and effective way to generate leads online. When individuals search for a product or service, they usually enter specific terms like "mortgage", "lender", or "refinance". You can create PPC ads on search engines like Google, Bing, or Apple. Paid search ads are the most common type of PPC ad, and you only pay when someone clicks on your ad. It is important to bid on relevant keywords for your business and create high-quality ads that are likely to convert leads into loans.

Social Media Advertising

Social media platforms like Facebook, Instagram, and LinkedIn offer advertising options that can help you reach a wide audience. Consider running ads on Facebook, as it can help you generate a significant number of leads in a short period. Instagram and LinkedIn can also be effective platforms for reaching your target audience. LinkedIn, for example, allows you to target specific demographics and geographical locations.

Video Advertising

Creating a high-quality mortgage video with the help of a videographer can be a great way to advertise your services. You can post the video on your website, as well as on social media platforms like YouTube, Facebook, and Twitter. Running video ads on Google Ads can also increase your reach and engagement.

Email Marketing

Email marketing is another effective way to generate mortgage leads. Tools like MailChimp, HubSpot, and Constant Contact can help you stay in touch with potential leads and nurture them over time. Make sure to avoid sending out large email blasts from your personal account, as this may be flagged as spam.

Website Optimisation

Having a user-friendly and mobile-friendly website is crucial for generating mortgage leads. Ensure your website looks modern and professional, with easy navigation and interactive content. Establish yourself as an authority in the industry by creating high-quality, niche-focused content that demonstrates your expertise. This will help build trust with potential customers and drive organic traffic to your site.

Social media marketing

To effectively generate mortgage leads on social media, it is essential to understand your target audience. Identify the demographics, interests, and pain points of your ideal mortgage prospects. By understanding their needs and preferences, you can tailor your content and campaigns to resonate with them. Optimize your social media profiles by using professional and appealing visuals, writing engaging descriptions, and including relevant keywords. This ensures that your profiles are easily discoverable and make a positive impression.

Consistency is key in social media marketing. Regularly post valuable content related to the mortgage industry, such as informative articles, tips for homebuyers, and updates on interest rates. Maintain a consistent posting schedule to keep your audience engaged and establish your brand as a trusted source of information. Visual content, including images and videos, can significantly enhance your presence and attract more leads. Share infographics, success stories, or virtual home tours to capture attention.

Engaging with your audience in real-time is a powerful way to connect with people and generate leads. Use social listening tools to identify common concerns and address them through live sessions. Promote these sessions in advance and encourage viewers to ask questions. Show your personality with fun selfies and lighthearted posts that resonate with a broad audience. You can also use videos or infographics to simplify complex mortgage concepts, especially for first-time buyers.

Contests and giveaways are another effective strategy to attract attention and generate leads. Encourage participants to provide their contact information for a chance to win a prize or receive exclusive mortgage-related content. This increases your lead database and creates buzz around your brand. Additionally, consider partnering with influencers in the real estate or mortgage industry who have a significant following. Their endorsement can introduce your services to a broader audience.

Finally, social proof is a powerful motivator for potential leads. Share testimonials, reviews, and case studies from satisfied clients on your social media platforms. Highlight success stories to build trust and credibility. Encourage happy clients to leave reviews on Google My Business or Facebook, and then share these positive experiences across your channels. It is also important to measure the return on investment (ROI) of your social media efforts. Track the number of leads generated and analyze their conversion rates to identify the most effective strategies.

Referrals and networking

To build a strong referral network, consider the following strategies:

• Utilise LinkedIn: This platform is not just a resume repository; it is a vibrant community of professionals, including real estate agents, loan officers, investors, and developers. Create a company page or reach out directly to potential business partners.
• Tap into your existing network: Ask associates and local real estate agents where they source their leads. Don't be shy—those specialising in different areas of the mortgage or home-buying process may have valuable insights.
• Embrace technology: Use tools like Shape Software's Mortgage CRM to actively track and engage with referrals. This can enhance your referral strategy and facilitate business growth.
• Stay in touch with past clients: According to Shashank Shekhar, CEO of Inc 500 Company Arcus Lending, referrals from past customers are the "lowest cost and highest quality leads." Focus on providing ongoing value and maintaining strong communication.
• Pick up the phone: While digital communication has its place, a phone call can be more effective in building personal connections. Rhonda DelSignore-Muggan emphasises the importance of human connection, which can be fostered through phone conversations.
• Respond to customers' questions via video: Anthony VanDyke, a top mortgage professional, recommends using video and screen capture to explain complex financial concepts. This creates a memorable customer experience and helps them understand their options.
• Build content of tutorial-level quality: Position yourself as an instructor rather than a salesperson. Create explainer videos, workshop blogs, checklists, and FAQs to educate potential borrowers and establish yourself as a trusted authority.
• Highlight your specialty: Showcase what sets you apart from other real estate agents. Guest podcasting and blogging on other websites can help you reach a wider audience and attract buyers looking for specialised services.

Direct mail and cold calling

Direct mail marketing involves sending printed promotional materials to recipients' home addresses. This can include short postcards with eye-catching designs and clear calls to action, or longer brochures with detailed information about your mortgage offerings. Personalization is key to the success of direct mail campaigns, as it increases the chances of collecting new leads. You can personalize your direct mail by addressing recipients by name and sending targeted offers that are relevant to their specific needs or interests.

To execute a direct mail campaign, you can work with a direct mail fulfillment partner like mailing.com, who can help you identify and target homeowners who are most likely to respond to your campaign. They can also assist with printing and mailing your promotional materials, ensuring that your campaign meets regulations and adheres to USPS requirements.

Cold calling is another traditional method for generating mortgage leads. It involves calling potential customers who have not explicitly asked to be contacted and may not be familiar with your company. While cold calls can be intrusive or unwelcome, they can still be an effective way to connect with prospective home buyers. To increase your chances of success with cold calling, it's important to have a clear value proposition and be able to answer any questions or concerns that potential customers may have.

You can obtain leads for cold calling by purchasing contact information from lead providers or lead generation companies. However, buying leads has its drawbacks, as you don't have a pre-existing relationship with these prospects. Additionally, it's important to act quickly when you receive a lead, as the first company to make contact with a prospect is often the one that succeeds in making the sale.

By combining direct mail and cold calling with digital marketing strategies, such as creating a strong online presence and leveraging social media, you can effectively generate mortgage leads and grow your business.

Pay-per-click campaigns

Pay-per-click (PPC) campaigns are a form of online advertising where you only pay when someone clicks on your ad. This can be a great way to generate mortgage leads, as it allows you to target individuals who are searching for specific terms related to mortgages, such as "mortgage", "lender", or "refinance".

When creating a PPC campaign, it's important to choose the right search engine. Google is the most popular, but Bing and Apple are also worth considering. You'll also need to decide on the type of PPC ad you want to use. Paid search ads are the most common type, and they appear on the search engine results page when someone searches for a relevant keyword.

To get started with PPC, you'll need to bid on keywords that are relevant to your business. For example, if you're a mortgage lender, you might bid on keywords like "mortgage", "lender", or "home loan". The search engine will then use an automated process to determine the relevance of your ads and place them on the search engine results page accordingly.

It's important to note that your goal with PPC advertising should be to generate high-quality leads that convert to loans and provide a healthy return on investment (ROI). This means that you should focus on creating ads that are relevant to your target audience and that provide valuable information.

Another thing to keep in mind is that PPC campaigns can be complex and time-consuming to manage. It's important to continuously optimise your ads and test different strategies to get the best results. Additionally, it's worth noting that there are restrictions on targeting people by their credit score, income, or loan amount on certain platforms.

Overall, PPC campaigns can be a powerful tool for generating mortgage leads, but they require careful planning and management to be effective. By choosing the right keywords, creating relevant and valuable ads, and optimising your campaigns, you can successfully connect with potential borrowers and drive them through your sales funnel.

Frequently asked questions