How to Create and Implement the Best Digital Marketing Plan for Mortgage Companies

Every business these days needs a digital marketing plan to get more leads and profit.  The same holds for mortgage companies. An effective digital marketing is the one that aids a mortgage company to commence a conversation with clients and eventually allows them to make a wise decision. Whether it’s targeted for purchase or refinancing, the corresponding plan can prove to be beneficial. The corresponding mortgage marketing plan will also guide the mortgage company in continuing the conversation once the prospects have closed the loan and may be willing to refinance. One of the best pieces of advice is to create a tailored marketing plan from scratch to aptly handle the needs of the clients. If you are confused about how to design and employ the best digital marketing plan for mortgage then the following guide is a perfect assistance for you.

1) Set out your digital marketing objectives

A digital marketing plan with well-defined objectives is vital for a mortgage loan officer, mortgage marketing individual, or mortgage company. Such objectives should match your business’ set objectives. Even the best digital mortgage marketing experts recommend a mortgage business owner first set out the digital marketing objectives.

It is observed that most mortgage companies adopt a plan that focuses on generating more loan closings, with reduced cost. Determine some milestones to realize success. For example, you can consider a percentage increment in closing or the number of prospects to be added. Also, you can assimilate the percentage of lead conversion as a target.

In addition to setting out some specific targets, you also need to bear in mind digital marketing efforts supporting the set goals. For example, if you are an individual mortgage professional, prioritize depicting your business values. You can incorporate aspects like customer service and community support. You can book a demo from us to get expert guidance on mortgage marketing.

2) Recognize the target audience

Defining the objectives is not sufficient as you need to aptly identify your target audience. For creating a digital marketing plan for mortgage, most mortgage firms market to some common groups. These include first-time buyers, mortgage renters, trade-up buyers, vacation home buyers, in-process borrowers, referral partners, etc.

Contemplate the target audience in the context of generation. For instance, first-time buyers are usually around the age of 30 whereas homeowners can’t be eligible for a reverse mortgage till they don’t reach the age of 60.

You can consider posting content aligned to first-time buyers on Instagram. Post reverse mortgage details on Facebook. Make sure the communication stays engaging with the specific target audience. Express them the way you do business and the areas anticipated for growth.

3) Use different mediums for digital mortgage marketing

Once you have set the objectives and identified the target audience, the next important thing is to use various mediums for marketing. When preparing a mortgage marketing plan, think about what channels you would use and the functionalities desired in each. Some of the effective mediums include email/text messaging, social media platforms, and blogs/websites.

When considering email or text messaging, you can post educational messages intended for all target audiences. You can incorporate automatic drip campaigns that establish communication with prospects to guide them. Other strategies you can adopt are personalized communication, messages delivered depending on triggered events, and recurring messages (like weekly updates for real estate agents or a reminder for yearly credit report checks).

If you are using social media for digital mortgage marketing then you can consider the following aspects:

When considering a website/blog, you can specify basic information about your mortgage company, education content, news releases, introduce team members, etc. Also, you can incorporate a “contact us” form or relevant mortgage calculator. Request a demo from us to get recommendations on mortgage marketing.

4) Cobranding

Referrals directed from real estate agents can provide high-quality leads to mortgage lenders. Your digital marketing efforts can reap off with more leads. The corresponding plan must contain ways to establish relationships with referral partners. Your mortgage marketing company can accomplish cobranding by adopting any of the below tips:

5) Video

Including a video in the content can increase the engagement of customers and ultimately drive more leads. Optimizing your search engine results can be streamlined with the help of videos. For example, you can incorporate explainer animations to make potential borrowers comprehend your loan products and indirectly encourage them to post positive reviews.

Your mortgage marketing company can post live videos on various social media platforms to provide a personal touch to the audience. You can use a mortgage CRM that provides integrations with various kinds of services. Book a demo from us to enhance the efficiency of your mortgage marketing efforts.

Conclusion

Understanding how to create and employ a digital marketing plan is vital to realizing mortgage business success. Since each mortgage lending business is unique, the exact mortgage marketing plan varies. Primarily, it depends on the team size, demographics, performance objectives, etc. Make sure to thoroughly analyze the positive and negative aspects of your mortgage business and accordingly devise a digital marketing plan.