Reality check, leads are everything. They are what converts to clients. So, it’s a no brainer what having none means, which emphasizes the need to learn how to get mortgage leads.
In essence, you should be concentrating your effort in generating leads. Once you have them, it is a matter of funneling them down and converting them to clients.
It is a two-step process and sounds easy, but the devil is in the detail. Creating leads is not as simple as two words. Rather, it is a complex process which is an aggregate of one key element after another.
Table of Contents
What Are Mortgage Leads?
To understand how to generate leads, it is important to completely understand what mortgage leads are in the first place.
Generally, you are looking at any person who has a strong interest in taking out a mortgage. These are people who are in the market for the service, it is only a matter of finding the right lender or officer.
With that said, you are not trying to convince somebody that they need to take out a mortgage. Instead, you are trying to convince people that you are the right mortgage lender for them.
So, what you should be doing is getting your name out and informing an audience. Concentrate on your service as a mortgage lender instead of highlighting the importance and necessity of a mortgage.
The sooner you understand what leads are all about, the easier it is to target your marketing campaigns and make leads more susceptible to you and you alone.
How to Start Making Mortgage Leads
You now know that leads are already in the market for a mortgage loan, but how do you make yourself standout as a mortgage lender?
As early as now, let it be known that it is not just a single step. There are a lot of key elements to consider as well as smaller aspects that will all play a role in making you more visible.
1. Content, Content, Content
Content marketing is all the fuss with the dawn of the internet. You would wonder why, but it really isn’t that unusual. Creating quality content, in any form such as:
- Articles
- Blogs
- Videos
- Images
- Infographics
Results on a lot of things, like:
- Establishes your authority in the mortgage industry. The more you talk about what you know, the more trustworthy you become.
- Generates traffic to your website and pages. Because people are always looking for answers and your content can be the one that pops up in search engines that can give a person the advice they need. As a result, your service gets discovered and is going to be the primary choice.
- Creates client loyalty. When a client feels that they have been helped extensively throughout their journey with your content, they feel the need to give back and that means sticking to your service through and through.
What Content to Create for Mortgage Leads?
So, you know that content matters, but what kind of content?
It is one thing to say that content is helpful, and another to actually come up with something that will be sought out. So, here are some of the things you would want to venture into.
1. Answers to commonly asked questions
As someone who is in the mortgage industry, you know the common prevailing questions. No matter how big or small, provide answers to these inquiries.
No question is insignificant. As a matter of fact, target more obvious ones because these are the questions that are searched for on the internet instead of being actually asked on a mortgage lender.
2. Mortgage Guides
There are people who don’t ask a single question, but an entire process. For example,
- What is the process of taking out a mortgage?
- What are the requirements when taking out a mortgage?
- When I get denied, what steps can I take?
You can provide a step-by-step guide to these inquiries. Remember that people who are new to this are going to have similar questions. Questions that can’t be answered with a single line, but an entire guide.
3. Correcting Mortgage Misconceptions
There are people who don’t know anything, then there are ones who have some knowledge. You are looking at ones who have made their research and consultation, but are confused with the contradictory statements they have heard and read.
4. Content that Highlights Mortgages
Never forget about people who are deciding whether or not a mortgage is right for them. For every person contemplating their first property, it is always a tug-of-war between saving up or loaning from a friend, or taking out a mortgage. These people will be searching for answers on what makes mortgages the more preferred choice.
2. Specialties Will Get You Far
Go search for mortgage lenders and out comes a bunch of results. Point is, you are not the only one and you are nothing unique from the rest of the crowd.
While being an average mortgage lender isn’t necessarily bad, having specialties that separates you from the bunch will bring you a long way.
Imagine a person wanting service A. If you can guarantee that you are an expert on that, that client will prefer you over the competition.
It is simple logic, if someone does something better, why opt for the average mortgage lender?
Long story short, try to find your specialty or what service or skill you do best. If you don’t have any, put in the time and effort in developing one. While it may take some time, it is an investment in the future that can make all the difference.
What Counts as Specialties?
You might be wondering what counts as a specialty that you can leverage your reputation on. Here are some to give you an idea.
- Are you an expert on a specific loan program? Do you know the ins and outs? If you are capable of answering every question a client can throw or you have extensive experience with it, that is a specialty.
- You are well-versed on a specific type of property. If people are looking for residential homes, you are the go-to person. If they are in the market for mansions or for commercial use, you have a wide array of great choices for them.
- You can get things done. Having the right acquaintances and connections that can make the entire mortgage process easier for clients also counts as a specialty.
How to Market Your Specialties to Create Mortgage Leads
You have your skills and specialties, so what now? Having them is just the first part of generating leads, the most important aspect is knowing how to market them.
Indeed, you know your properties, but how would your clients know that? What do you put on your marketing materials to convince them that you are the lender for the job?
- Leverage on stories.
This is no different from story-telling. It’s like narrating a situation that has a dilemma and what you would do as a lender to solve that theoretical situation. Just make sure that the scenario is as realistic as it can get.
If you can tap into a scenario that a lot of people can relate to, it sends one message: you know your stuff.
- Testimonials and Feedbacks
You can talk all you want, but people are more likely to believe what others have to say. So, client feedback and testimonials will give you the instant and reliable reputation you need.
- Show Proof
If your specialty revolves around a certified skill, show your proof. What better way to make your clients trust you than to guarantee them that your specialty is formally recognized.
3. Social Media Drives Conversations
In the United States, 80% of the population use social media. That statistic serves true in other nations as well.
Apparently, social media has become a huge part in every person’s life. Whether it is a life update or knowing about the news, social media has become the go-to platform.
For a mortgage lender, that tells you one thing, marketing in the platform is a huge opportunity that can bring you far in generating mortgage leads.
Other than the huge audience in different platforms, what makes social media great?
1. Self-driving conversations
You don’t necessarily have to keep a conversation going, your audience can do that for you. Provided that you have enough people engaging in it.
The reason why conversations are so easy to fuel in social media is because of how it is designed. Once you get something started and it catches on, it results in a series of domino effects due to one simple button, the share button.
2. Everything points back to you
No matter how far your post has reached. Every reader and viewer will always be pointed back to your page and account. This is what makes your entire business easily visible to a wide array of audience. So, the essence of getting your service seen is not lost, but further emphasized.
3. Get creative without limitations
Social media is centered on creating content without limits. As a result, you are able to deliver your message clearly to your audience. You leave no ambiguity which leaves no room for misinterpretation which bids well for someone who is looking to acquire leads.
4. Reviews Propel You Forward
It is common for people to underappreciate reviews, but they actually deserve a lot more credit. Remember the last time you made a purchase, you felt more secure when you read a positive feedback.
That is no different with mortgage leads. With every positive review, you bring potential leads closer to you until they turn you as their most trustworthy and number one choice.
Here are other ways that reviews and feedback influence your audience:
- Consistent specific feedback gives your leads something to look forward. For example, if polite is a common word that comes up in your reviews, your leads are going to choose you because there is the guarantee of a characteristic they desire.
- Provides assurance for a positive experience. People want to be happy with the time and money they spend. Reviews give them that assurance that nothing will be put to waste.
- Gets you seen in search engine. By making good use of review websites like Yelp, a bunch of positive reviews will make you a prime result during searches.
Turn A Negative Review into An Opportunity
Like it or not, no matter how great of a service you deliver, you are going to receive a negative review.
It can be that a client deemed you insensitive or unresponsive. It is bound to happen, because just like anything else, you are not always going to be at the top of your game 24/7 and then there are people who are going to misinterpret you.
In short, you need to accept the fact that a negative review is a given. So, you shouldn’t put all your effort not to get one, but instead, know what to do when that happens.
Remember, a negative review is not the end. You still have one last opportunity to be able to turn it around and make have it as a positive experience that can further forward your marketing.
One word: response.
How you deal with a negative feedback tells a lot about your service. With the right words and actions, your potential mortgage leads will be looking at how positively you dealt with the situation, instead of the negative review.
The Biggest Challenge: How to Get Reviews?
While you may think that reviews are just short written feedback, most people find it tiresome to make. As a result, your clients are going to promise you to leave one, but never will. In the end, you barely get any.
So, the question is, can you improve your chances of receiving a positive review?
1. Make everything easier.
Remember that a review is an additional burden on the side of a prior client. They have no responsibility of doing it, so make sure that it can be done as easy as possible.
When asking for a review, send them the link instead of letting them search for your website.
2. Give a little thank you at the end.
You provided a great service, so they give back with a review. You then give thanks by giving them a little something. It can be a notice, gift, or incentive like a discount.
So, what seemed like an additional burden now becomes something that a client is obliged to do.
3. Remind them
Reviews are not being given not because clients are arrogant and don’t think that you deserve any. Instead, most people have the tendency to forget. There is nothing wrong with that, just make sure you make it a habit to remind them. With that little tip, you are bound to observe a rise in reviews left for your mortgage service.
5. Have The Right Friends (And Partners)
Where one’s business ends, another starts. With this in mind, find partners whom you can act as an extension of their business.
For example, divorce attorneys see the most people who take out a loan to deal with their current dilemma. A mortgage is one of them. Having them point their clients to you is a fast and sure way of getting yourself leads.
That’s not where the concept of partnership ends. One way or the other, a business or person can help you. It can be through making the entire process faster or increasing the chances of approval with certain client requirements.
The right partners can help you acquire more leads or make sure that those leads eventually turn into clients. Either way, expanding your contacts will help you down the road as a mortgage lender.
If you don’t know where to begin your partnership and collaboration journey, here are some types of people that may be of interest.
1. Financial Planners
This is equivalent to a real-life cheat code in the mortgage industry. If there is one person that has the most knowledge of a consumer’s financial situation, especially on their mortgage status, that would be them. They can point you to the right people who are in the market to take out a mortgage loan.
2. Bankers or Credit Unions
Head straight to those small banking institutions that offer all types of financial assistance, except for mortgage loans. Chances are, people have come to them for the service. What they need is a mortgage lender whom they can point their fingers to.
3. Loaning Institutions
There are businesses that are specifically catered towards providing a loan. However, one way or the other, some of them are going to be lacking in the mortgage department. Take the opportunity to fill out that position.
What’s Better? Paid or Organic Search?
In every online marketing strategy, you have two choices. You can opt for either paid ads or stay true with organic search results.
Organic search entails relying on SEO strategies to come out on the first page of a search engine. On the other hand, paid ads guarantee that you are on the first page regardless of the quality of your website.
So, which should you choose? Organic search seems to have more integrity over the other, while paid does sound to be the most practical and effective.
Why Paid Ads are Important
Indeed, SEO will get you on the first page of search engine results. However, it is not going to be that easy. To make things worse, search engine algorithms change, so when you rank first, be wary because chances are, it won’t stay like that forever.
In short, relying completely on organic search is like standing on thin ice. You never know when it will collapse and you are always wondering when will things start to go wrong.
You might not realize it, but you end up spending more on organic search than on paid ads. That’s because you are constantly taking every precautionary measure and effort just to stay on top of the game.
As they say, hope is not much of a reliable strategy.
In the end, paid ads can come out as the more economical choice. Pair that with the fact that you guarantee your presence on the first page, you ensure that you get seen for your mortgage leads.
With that said, paid ads should be a part of your marketing strategy. It should never be taken for granted or be left unappreciated. It is more integral than you would expect.
Why Organic Search is Also Important
So, paid ads have been highlighted, does that mean that organic search is the inferior choice?
When choosing between the two, neither is better nor worse, they each stand out in their own right.
Even if organic search can be hard to maintain at times, there are also situations when it can be easier. Also, there is the chance that your high rank will be maintained all throughout the years. So, if you have stopped working on a certain page’s SEO, it doesn’t mean that it is guaranteed to fall to the back of the search engine results page.
While organic search can be high maintenance, it can also require the least maintenance. If you are lucky, an article ranking high can help you get seen for years.
Also, you need to factor in how people are much more inclined to click on a non-ad website.
Never Underestimate Ease of Use
For the last tip, yet the most overlooked, ease of use is crucial. It doesn’t mean that you have secured a lead or client, they are bound to pursue your service. Unfortunately, when things get a little too difficult, they are bound to change their decision.
What this means is that in any step, never take shortcuts. Because out of the 10 steps, it only takes one mistake to completely reverse the decision of a lead.
The most common shortcut taken is not paying too much attention on website design and ease of use. When it looks complicated, unappealing to the eyes, and difficult to navigate, your lead will eventually get tired.
Put ease of use before anything else. Don’t overcomplicate things and be straight to the point with your service. If there is no way of making something completely intuitive, leave it out. Sometimes, a lacking feature is better than a complicated feature.
Learning How to Get Mortgage Leads is Not Simple
If you have come this far, then you already know that getting mortgage leads is no easy task. It requires a lot of steps, tips, and best practices, but with enough practice, you will eventually get used to it and constantly bring in leads.
The question however is, can you stick to the entire process that long? If you can’t, it doesn’t necessarily mean that you are bound to fail in your business. Instead, you just need a little help from the best digital marketing agency. Contact us today and receive a free strategy consultation that is right for your needs.
