Has your mortgage lending business become stagnant in recent times? Whether it’s economic, seasonal, or the COVID after-effects. There are many valid reasons you might be struggling.
If you’re looking to grow your mortgage business, it can be difficult to find the right leads. It would help if you had quality referrals. And these come from people who are already in the industry or have experience with mortgages.
So here are some tips for increasing mortgage leads for loan officers.
Create a Strong Marketing Strategy
Creating a strong marketing strategy helps in finding prospective borrower leads. For example:
Use Email Marketing
Emails are an excellent way of marketing your aftercare services. Done right, they allow you to offer exceptional value to your clients and leads. Send closing emails thanking leads for leaving details or transacting.
Create an email list that you can send out targeted emails to when there’s something special going on. It could include things like “New home buyers” or “Home sellers.” Or, you can send polite inquiries if they’ve been inactive for a while.
You’ll want to make sure your messages aren’t too sales-oriented, however. They’ll need to fit in with your brand image and not come across as cliche.
Social Media Marketing
Use social media sites such as Facebook and Twitter. These are great for promoting yourself and your business. Make it fun! People love to share their successes online, so don’t forget to do that.
Also, use platforms such as LinkedIn to connect with other professionals in the field. If someone mentions buying a house, ask them what type of lender they used. Ask questions about their experiences and see where this conversation goes.
Social media isn’t only about customer service. Good experiences lead to positive vibes spreading across the web. In turn, this encourages others to enquire about your services.
And, suppose you’ve got something unique to offer with your lending. Don’t be afraid to record your advice videos. A winning mindset goes a long way in the vlogging space.
You can use sites such as Youtube or TikTok. Many businesses have increased their leads and revenue as a result of adding value in this way.
Organic Search Advertising
Organic search advertising is otherwise known as Search Engine Optimization (SEO). SEO is another great tool for generating leads. SEO allows people who use Google to find information on your site first.
Suppose someone searches for a term related to mortgages. Then chances are they’re interested in buying one. Use keywords in your titles and start a blog to get noticed by potential borrowers.
Paid Search Advertising
Paid search advertising is useful for protecting your brand. But for most businesses, organic search advertising will save you much money.
Be careful not to get caught up in the hype of paid search advertising. It may end up costing more than what you’re making back from those clicks.
Customer service and customer experience are two very different things, despite sounding similar. But both carry equal weight in making sure you continue to generate a steady growth of leads.
Customer service is the skeleton of the transaction. It allows you to give the customer what they want. But for anyone who’s worked in retail, chances are you’ve heard of customer experience.
Customer experience focuses on the “above and beyond“. It’s the lasting memory of buying that product or service.
Apple is the perfect business to illustrate this. They show how a successful customer experience outshines customer service at any time.
Apple treats the buying experience like a Hollywood movie and makes you feel like you’re on the red carpet. From the brand reputation and adverts to the greetings at the door of the store. And don’t forget the box design taking several seconds to open.
Take a look at how your business can add value to your customers and what that looks like in the loan industry.
Turn them into customer experience teams. A great way of doing this is to train your customer service teams. A simple example that is easy to put in place is the greeting on the phone.
Suppose your sales staff start asking the customer how they wish to be addressed. Small gestures like these go a long way in most communities.
Automate All Your Processes
Don’t shy away from using technology to make your business run on autopilot, whether that’s finance, admin, legal, or marketing. Automation is the latest buzzword in maximizing efficiency within businesses.
First of all, you’ll spend less time on tasks. Instead, you’ll have more time to focus on potential leads and expanding your database. And, there’s software that will automate your lead generation for you as well.
Create a Mortgage Lead Generation Live Transfer
A live transfer is when a call center rep hands off a live call to a buyer who then speaks with the lead. The call center rep usually gets an inbound or outbound call. Before calling out to potential call buyers, the call center rep collects additional information.
Before dropping off the line, the rep introduces the lead and the call buyer. The data lead that was collected by the call center rep is then passed on to the call buyer.
Offer a Referral Scheme
Referrals and affiliates are a brilliant way to generate leads. And the best bit is that you can do so without having to do much work.
You offer payment in exchange for a new lead generated or a referral. In turn, the person who referred the lead does the initial legwork for you.
Offer Mortgage Refinance Services
Mortgage Refinance Services are a great way to grow your leads. Keeping an existing customer on your books is an easy conversion.
It frees up your resources to focus on generating new leads. Thus, you can add to the existing ones that won’t drop off the list from neglect.
Generate Mortgage Leads Today
The mortgage market has changed a lot over the last few years. In particular with the introduction of online lenders.
Yet, it remains a very competitive sector. In this sector, only those with strong relationships stand a chance of success in growing their mortgage leads at a steady pace.
Now you’re excited to learn more about growing your mortgage leads and referrals. Please get in touch today!